News LIVE updates: Germany refuses to boycott Russian energy

News Live Updates: Zelensky had earlier said that Ukraine would not compromise on its territorial integrity and sovereignty.

6:21 PM

Russia urges Washington to quit escalating tensions

Washington must stop escalating tensions if it wishes to normalize ties with Moscow, Russian Deputy Foreign Minister Sergei Ryabkov said on Tuesday.

 

"They need to stop their escalation, both verbally and in terms of pumping the Kiev regime with weapons," Ryabkov said, adding that the US must also stop threatening Russia, Xinhua news agency reported citing Russian media reports.

 

"In the meantime, we are seeing a downward trend in relations," said Ryabkov, who faults the US for the state of ties.

 

"We regret this. However, this doesn't have any effect on our determination to work towards achieving the goals of the special military operation and adapt to the circumstances resulting from US sanctions," he said.

6:01 PM

Gold eases as US Fed's plan to curb inflation lifts yields

Gold prices fell on Tuesday, tracking a retreat in crude oil prices, with pressure also coming from the U.S. Federal Reserve head's hawkish approach to tackling inflation which lifted Treasury yields. Spot gold XAU= fell 0.4% $1,928.30 per ounce by 1053 GMT. U.S. gold futures GCv1 dipped 0.1% to $1,928.00.

 

Fed Chair Jerome Powell said on Monday the central bank must move "expeditiously" to raise interest rates to rein in lofty inflation, possibly "more aggressively," to keep an upward price spiral from getting entrenched.

 

Gold is taking Powell's comments relatively well due to support from an overnight spike in crude oil prices, which is inflationary and hurts growth, said Saxo Bank analyst Ole Hansen. Crude oil prices drifting lower on the day is weighing on gold, he said.

 

5:42 PM

Oil rises towards $116 as EU weighs Russian ban

Oil rose towards $116 a barrel on Tuesday, adding to a 7% surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities.

 

European Union foreign ministers are split on whether to join the United States in banning Russian oil. Some countries, including Germany, say the bloc is too dependent on Russia's fossil fuels to withstand such a step.

 

"It is still not clear whether this will really happen," wrote Carsten Fritsch of Commerzbank in a report, adding: "a decision of this kind requires unanimity."

 

Brent crude rose 26 cents, or 0.2%, to $115.88 a barrel by 1140 GMT. U.S. West Texas Intermediate crude slipped 10 cents to $112.02. Both contracts had settled up more than 7% on Monday.

 

5:25 PM

Four vaccines approved for those below 18 years: Govt told Rajya Sabha

The Central Drugs Standard Control Organization in consultation with Subject Expert Committee has approved four COVID-19 vaccines for restricted use in emergency situation for those aged below 18 years, the Rajya Sabha was informed on Tuesday.

 

The four vaccines which have been approved are Zydus Cadila's ZyCovD (in the age group of 12 years and older), Bharat Biotech's Covaxin (for >2 to <18 years age group), Biological E's Corbevax (for =5 to <18 years age group) and Serum Institute of India's Covovax (for >12 to <18 years age group), Minister of State for Health Bharati Pravin Pawar said in a written reply.

5:23 PM

Mandatory for every car carrying upto 8 passengers to have 6 airbags: Nitin Gadkari in Lok Sabha

5:22 PM

Cabinet approves hike in MSP of raw jute for 2022-23 season

The Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved the minimum support price (MSP) for raw jute for 2022-23 season at Rs 4,750 per quintal, an increase of Rs 250 over previous year.

 

"The approval is based on recommendations of the Commission for Agricultural Costs and Prices (CACP). This would ensure a return of 60.53 per cent over all India weighted average cost of production. The announced MSP of raw jute for 2022-23 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the government in the Budget 2018-19," a release from the Ministry of Agriculture and Farmers' Welfare said.

 

The step assures a minimum of 50 per cent as margin of profit. It is one of the important and progressive steps towards ensuring better remunerative returns to the jute growers and to incentivise quality jute fibre, the government claimed.

5:17 PM

Govt closely monitoring global commodity price movements amid Russia-Ukraine war: FinMin

The government is closely monitoring the global commodity price movements and their impact on the Indian economy through trade in the aftermath of global supply disruptions amid the Russia-Ukraine war, Parliament was informed on Tuesday.

 

Minister of State for Finance Pankaj Chaudhury said the government is also committed to supporting initiatives for releases from Strategic Petroleum Reserves to mitigate market volatility and calm the rise in crude oil prices.

 

To a question on whether the government has made any review of the economy consequent upon the breakout of war between Russia and Ukraine, the minister said the geopolitical tension between Russia and Ukraine has led to global supply disruptions, resulting in a steep increase in global commodity prices, including crude oil, gas, edible oils and fertilisers, among others.

 

"Government of India is closely monitoring the global price movements and their impact on India's economy through trade," he said.

4:55 PM

Putin wants to conquer not only Ukraine but also Baltic states: Volodymyr Zelensky

Ukrainian President Volodymyr Zelensky believes that his Russian counterpart Vladimir Putin may deliberately impose unrealistic demands on Kiev because he wants to conquer not only Ukraine but also the Baltic states.

 

When Zelensky was asked to clarify what he meant when he spoke about the risk of a World War III in the event of a failure to negotiate with Putin, Zelensky said: "This means that he (Putin) was not going to end this war. His plan - in which Ukraine is perceived as an intermediate step to the final result - is to occupy the Baltic states, states that were part of the Soviet Union. (He is considering) other states that used to be under control of the Soviet Army and Soviet Union," Ukrayinska Pravda reported.

4:53 PM

Indian road infrastructure will be like America's by Dec 2024: Nitin Gadkari in Lok Sabha

4:49 PM

Closely following Covid trajectory globally: Govt

Noting that various mathematical models meant for predicting coronavirus waves have repeatedly failed to give reliable results due to a small sample size, the Centre on Tuesday said it is closely following the virus trajectory globally, given the emergence of its new variants.

 

In a written reply to a question in the Rajya Sabha, Minister of State for Health Bharati Pravin Pawar further said the network of Indian SARS-CoV-2 Genomics Consortium (INSACOG) of laboratories is undertaking whole genome sequencing of samples for a timely detection of the mutant variants of the virus.

 

On whether researches at the Indian institutes of technology (IITs) have predicted a fourth wave of the pandemic in the country between June and August, she said the IIT Kanpur has clarified that it has not forecast a fourth wave of Covid-19.

4:23 PM

Akhilesh Yadav resigns as Lok Sabha member; to retain Karhal assembly seat

Samajwadi Party chief Akhilesh Yadav on Tuesday resigned as the member of Lok Sabha from Azamgarh constituency, deciding to retain the Karhal assembly seat he won in the recently held Uttar Pradesh polls, Press Trust of India reported.

 

By quitting as a Lok Sabha member, Yadav has made it clear that he would now concentrate on state politics.

 

Yadav met Lok Sabha Speaker Om Birla in Parliament House to put in his papers. The Samajwadi Party tweeted a short video of the party supremo handing over the resignation letter to Birla. It is usual for the Chair to announce the acceptance of a member's resignation in the House.

4:22 PM

Russian Nobel winner sells medal for refugees

Russian journalist Dmitry Muratov says he wants to auction off his 2021 Nobel Peace Prize medal to raise funds for Ukrainian refugees.

 

Muratov called Tuesday in the independent Novaya Gazeta newspaper, which he edits, for people to share with refugees, the wounded and children who need urgent treatment what is dear to you and has a value for others. Muratov is asking auction houses about the possibility of organising a sale.

 

Muratov said last year he was giving away his share of the Nobel prize money to causes including independent media, a Moscow hospice, and care for children with spinal problems. He said he wouldn't keep any himself.

4:21 PM

'Fortnite' raises $36 million for Ukraine humanitarian relief

Fortnite developer Epic Games has announced that it has raised $36 million for people affected by Russia's war on Ukraine. The money is being donated to a handful of different aid groups, including Direct Relief, the United Nations High Commissioner for Refugees, the United Nations Children's Fund, and the World Food Programme.

 

"We are not waiting for the actual funds to come in from our platform and payment partners, which can take a while depending on how the transaction was processed," Epic said in a blog post. "As transactions are reported, we will log them and send the funds to the humanitarian relief organisations within days."

 

Epic Games recently announced that there are now more than 500 million game accounts.

4:15 PM

Christian scholars denounce Putin's religious ideology behind Ukraine war

More than a 1,000 global Christian scholars and researchers at several world universities, including from Russia, have signed a declaration denouncing the religious ideology that is driving Vladimir Putin's invasion of Ukraine. The declaration, organised by Dr Brandon Gallaher from the University of Exeter and Dr Pantelis Kalaitzidis, from Volos Academy in Greece, has expressed horror at the suffering in Ukraine and the weaponisation of Christianity in Russia.

 

It is now available in over 10 languages, and has so far garnered 1,127 signatures, including from nearly 20 Russian experts.

 

"The Russian invasion of Ukraine on February 24, 2022, is a historic threat to the people of Orthodox Christian tradition," the scholars wrote.

4:11 PM

New Zealand reports 20,907 new community cases of Covid-19

New Zealand reported 20,907 new community cases of Covid-19 on Tuesday, said the Ministry of Health in a statement.

 

Among the new community infections, 4,291 were in the largest city Auckland. The rest of the cases were identified across the nation, including 3,488 in Canterbury, according to the ministry.In addition, there were 34 new cases of Covid-19 detected at the New Zealand border, said the ministry.There were 1,016 Covid-19 patients in New Zealand hospitals, including 25 people at the intensive care unit or high dependency unit. READ MORE HERE...