US Senator Warns India and China of Harsh Tariffs Over Russian Oil Trade

VNE Correspondent
-
0
US Senator Warns India and China of Harsh Tariffs Over Russian Oil Trade

United States Senator Lindsey Graham has issued a stern warning to countries continuing trade ties with Russia, declaring that a future Trump administration would slap punitive tariffs on nations like India, China, and Brazil for purchasing Russian oil amid the ongoing Ukraine conflict.

In a strongly worded interview with Fox News, Graham said the US must act aggressively to cut off Moscow’s revenue sources, particularly through energy exports. He claimed that trading partners who continue to import Russian oil are indirectly supporting President Vladimir Putin’s war efforts in Ukraine.

“Trump is going to impose tariffs on people that buy Russian oil — China, India, and Brazil… Here’s what I would tell China, India and Brazil: If you keep buying cheap Russian oil to allow this war to continue, we’re going to tear up the hell out of you, and we’re going to crush your economy,” Graham said.

The Republican senator, a close ally of former President Donald Trump, revealed that plans are underway to introduce 100 percent tariffs on oil-related imports from nations trading with Russia. This comes on the heels of his earlier proposal of a 500 percent tariff on goods from countries that continue commercial engagements with Moscow.

The remarks are the most explicit threat yet from a senior US lawmaker toward New Delhi, which has increased its Russian oil imports since the onset of the war in 2022. India has repeatedly defended its decision on the grounds of national interest and energy security, noting that discounted Russian crude helps cushion inflationary pressures in a developing economy.

Both India and China have maintained diplomatic and trade relationships with Russia despite mounting pressure from Western allies. India, in particular, has walked a tightrope by abstaining from anti-Russia resolutions at the UN while also expanding defense and energy cooperation with the US and its allies.

The U.S. administration under President Joe Biden has so far taken a more measured approach, urging countries like India to reduce reliance on Russian energy but stopping short of imposing economic penalties. However, with the 2024 US elections having brought Trump back into the spotlight, foreign policy under a second Trump term may become more hardline.

Graham’s warning signals what could be a sharp shift in Washington’s posture should Trump return to power, with trade relations and tariffs potentially becoming a key foreign policy lever to isolate Russia further.

International analysts believe such aggressive tariff impositions could have far-reaching implications for the global economy, especially in emerging markets. For India, a major buyer of Russian crude and a rising global economic power, such tariffs could disrupt both its energy supply chain and exports to the US.

There has been no official response yet from India’s Ministry of External Affairs or the Petroleum Ministry on Graham’s remarks. However, government sources have previously stated that India’s foreign policy remains guided by “strategic autonomy” and national interests.

The situation adds a new layer of uncertainty to global geopolitics and trade, as Western allies seek to choke off funding for Russia’s war machine while emerging economies strive to balance global alignments with domestic economic imperatives.

Guwahati to See Major Healthcare Expansion with ₹800 Crore Investment Boost

VNE Correspondent
-
0
Guwahati to See Major Healthcare Expansion with ₹800 Crore Investment Boost

Assam is set for a significant upgrade in healthcare infrastructure as the state government rolls out major projects worth over ₹800 crore in the capital city, Guwahati. These developments follow the momentum built by the “Advantage Assam” investment summit held earlier this year.

Chief Minister Himanta Biswa Sarma, while reviewing post-summit outcomes, announced three flagship projects that have received cabinet clearance for land allocation: a 500-bed Medanta super-speciality hospital, a 100-bed hospital dedicated to women and children, and a five-star Lemon Tree hotel. The government expects these projects to generate close to 2,700 new jobs across medical and hospitality sectors.

The upcoming Medanta hospital, to be developed by one of India’s premier private healthcare chains, will mark a significant advancement in tertiary medical services in the region. With state-of-the-art facilities and expert medical personnel, the hospital aims to reduce the dependency of patients from the Northeast on medical institutions outside the region.

In addition, the planned 100-bed women and child hospital will help bridge critical gaps in maternal and pediatric care in Guwahati and adjoining districts. Officials said the facility will offer specialized services in neonatal care, obstetrics, gynecology, and adolescent health, with a focus on affordability and accessibility.

The inclusion of a Lemon Tree hotel as part of the development drive is also aimed at complementing Guwahati’s growing status as a business and medical hub. With medical tourism on the rise, the hotel is expected to cater to patients and families arriving from across the Northeast and neighboring countries like Bhutan and Bangladesh.

Speaking to reporters, state officials confirmed that land parcels for all three projects have been approved in prime city locations to ensure maximum accessibility and operational efficiency. Construction is expected to begin in phases over the coming months, with completion targets set for late 2026 or early 2027.

The “Advantage Assam” summit, hosted in February, attracted a wide array of investors and policy stakeholders. According to government sources, healthcare was identified as one of the top priority sectors, along with education, logistics, and agri-processing. The newly announced projects are among the first high-value outcomes of the summit to enter implementation.

Industry experts and healthcare professionals have welcomed the initiative, calling it a timely intervention to address the growing demand for advanced medical facilities in the state.

The Assam government has reiterated its commitment to fast-tracking approvals, infrastructure, and policy incentives to attract more investors to the state. With these developments, Guwahati is poised to emerge not just as a gateway to the Northeast, but also as a regional centre for premium healthcare and wellness services.

Nagaland University to House One of Northeast’s Four New Startup Incubation Centres

VNE Correspondent
-
0
Nagaland University to House One of Northeast’s Four New Startup Incubation Centres

In a major boost to the startup ecosystem of the Northeast, Nagaland University’s Kohima campus has been selected to host one of four regional startup incubation centres being established under a new initiative of the North Eastern Council (NEC). The programme, aimed at nurturing entrepreneurship in the region, is being implemented by the Indian Institute of Entrepreneurship (IIE), Guwahati.

The centre at Nagaland University is set to onboard 44 promising startups, including six from Assam, offering them mentorship, training, and access to resources needed to scale their ventures. As an added incentive, the top 50 performing startups across the four centres may be awarded seed funding of up to ₹5 lakh each.

The selection of Nagaland University comes at a time when the state is actively pushing for greater economic self-reliance and youth employment through innovation. University officials hailed the decision as a significant milestone for both the academic and business communities of Nagaland.

“This is a proud moment for the university and the state. We see this as a platform to channel the creativity of our young entrepreneurs into sustainable enterprises that contribute to the local economy,” said a senior faculty member from Nagaland University involved in the initiative.

The startup incubation centre will function as a nurturing ground for early-stage entrepreneurs across various sectors including agri-business, eco-tourism, education tech, and digital services. It will also serve as a training and support hub for aspiring entrepreneurs from other Northeastern states.

Officials from the Indian Institute of Entrepreneurship, the project’s nodal agency, said the goal is to create robust support infrastructure in underserved areas, while encouraging collaboration among young innovators from across the region.

This effort is part of a broader push by the central government to strengthen regional development in the Northeast through innovation-led enterprises. The NEC has identified entrepreneurship as one of the key engines of growth for the region, and this initiative is aligned with its Vision 2040 roadmap.

Entrepreneurs selected for incubation will receive support not just in the form of funds, but also in legal guidance, market linkage, product development, and investment-readiness training. The incubation centres are expected to become operational by the end of August 2025.

The Trading Trap – How Youth in Assam Are Falling Prey to Stock Market Scams

Dhruv Baruah
-
0
The Trading Trap – How Youth in Assam Are Falling Prey to Stock Market Scams

In recent years, Assam has witnessed a disturbing rise in trading-related scams that have financially devastated hundreds of individuals, especially young aspirants lured by the promise of quick profits in the stock market. The epicenter of this phenomenon lies in a rapidly growing ecosystem of unregulated trading classes, social media influencers, and fraudulent investment schemes that prey on the dreams of financial independence.

The Case That Shook Assam

One of the most high-profile cases that came to light was that of Sumi Borah and her husband Tarkik Borah in 2024. The couple was accused of orchestrating a massive scam in which they duped dozens of individuals by promising high returns from stock market investments. Victims alleged that they were encouraged to pool money which was then invested without transparency, resulting in huge losses. The Borahs allegedly lived a lavish lifestyle even as their victims struggled to recover their money.

While the investigation is ongoing, the incident raised serious questions about the unchecked rise of amateur trading experts and the absence of oversight on financial advisory services being offered across the state.

The Options Trading Craze

At the heart of many such scams is options trading, a high-risk, high-reward segment of the stock market. Options trading has become wildly popular among young people in Assam, who are drawn to the idea of making quick money without a conventional job.

Social media plays a significant role in this. Platforms like Instagram, Telegram, and YouTube are flooded with influencers sharing screenshots of their profits and offering paid classes that promise to turn novices into seasoned traders in weeks. These influencers often promote so-called “call groups” where they share entry and exit points of trades, encouraging a cult-like following among inexperienced youth.

“We were told we could earn Rs 2,000 to Rs 5,000 daily,” said one student who attended an options trading class in Guwahati. “But most of us lost our capital within days.”

The Coaching Industry Boom

The demand for trading knowledge has led to the mushrooming of coaching centers in Assam. Institutions like Candle Expert Academy and communities like TFAL (Trading For A Living), founded by Sapnanil Das, claim to simplify the complexities of the market for students across the Northeast. While some offer genuine mentorship, others are accused of overselling dreams.

Many of these classes cost anywhere from Rs 5,000 to Rs 70,000 and last just a few weeks. Advertisements typically focus on testimonials and pictures of luxury, rarely discussing the risk factors. Several trainers run their own Telegram channels or YouTube pages and encourage their students to follow them blindly.

As one victim stated in a complaint, “We were emotionally manipulated to believe this was the only way out of joblessness. They never talked about brokerage fees, taxes, or losses.”

A Banking Scandal With a Trading Twist

In a separate incident elsewhere, an ICICI Bank employee from outside Assam was arrested for siphoning off several crores from customers’ fixed deposits and investing it in the stock market. While this specific case did not originate in Assam, it has become a cautionary tale shared widely in local Telegram trading groups. The story, as reported by all media houses, underscores the extent of the greed and risk associated with unregulated investments, especially when financial professionals themselves fall prey to speculative trading.

The Psychology of the Scam

The appeal of trading is rooted in both aspiration and desperation. In Assam, where unemployment remains a concern, especially among the educated youth, the allure of turning a few thousand rupees into lakhs is irresistible. Many turn to trading not as a calculated investment but as a shortcut to financial success.

Moreover, the culture of easy information access has blurred the lines between education and exploitation. Anyone with a laptop and an internet connection can start a training program or sell predictions, making it hard for newcomers to differentiate between credible advice and manipulation.

Regulatory Vacuum

One of the biggest challenges in curbing these scams is the lack of regulation. While SEBI has laid down strict guidelines for financial advisors and portfolio managers, most trading influencers and classes operate outside these rules. They don’t register themselves or offer any legal recourse in case of fraud.

“There is no accountability. You pay for a course, lose money, and you are told it is because you didn’t follow the strategy properly,” said a 24-year-old engineering graduate who lost Rs 1.2 lakh through such a scheme.

The Way Forward

To protect Assam’s youth from falling into the trading trap, several steps are necessary:

  • Financial literacy programs must be integrated into school and college curricula.
  • The state government should consider registering and monitoring coaching institutions that offer trading-related content.
  • Strict action should be taken against those running fraudulent schemes under the garb of training.
  • Banks and financial institutions should regularly educate customers about safe investment practices.

A Culture of Silence

Many victims of trading scams do not come forward due to shame or the fear of being mocked. This silence enables scammers to continue exploiting others. It is crucial to foster a culture where financial loss due to fraud is not seen as a personal failure but a systemic issue that needs redressal.

Final Thoughts

Assam’s youth, like everywhere else, are ambitious, tech-savvy, and eager to take control of their financial futures. But without proper safeguards and education, this ambition is being hijacked by those who exploit dreams for profit.

As the number of trading scams grows, it is imperative for society, institutions, and the media to raise awareness and demand accountability. If left unchecked, the trading trap will not just hurt individual lives but could also erode public trust in legitimate financial systems.

Having said that, the surge in interest in trading among the youth of Assam is not inherently a negative trend. In fact, with the right guidance, disciplined learning, and a strong understanding of financial instruments, many can find success in the world of stock markets. The problem arises when the allure of quick wealth overshadows the need for caution, patience, and risk management.

If approached with sincerity and a long-term perspective, trading can be a fruitful venture. It demands dedication, time, and an openness to continuous learning—qualities that the stock market eventually rewards. And who knows, the next Rakesh Jhunjhunwala might very well emerge from Assam’s trading community. But let us not forget—while we might welcome another Big Bull, we would certainly not want to breed another Harshad Mehta, would we?

Ex-ICICI Bank CEO Chanda Kochhar Held Guilty Of Rs 64 Crore Bribe In Loan Sanction To Videocon

VNE Correspondent
-
0
Ex-ICICI Bank CEO Chanda Kochhar Held Guilty Of Rs 64 Crore Bribe In Loan Sanction To Videocon

In a significant development in the ICICI-Videocon loan case, former ICICI Bank Managing Director and CEO Chanda Kochhar has been found guilty by an appellate tribunal in New Delhi of accepting a ₹64 crore bribe in exchange for sanctioning a ₹300 crore loan to the Videocon Group. The tribunal’s order, dated July 3, concluded that the payment was a direct quid pro quo, routed through a company owned by her husband, Deepak Kochhar.

The tribunal stated that the bribe amount was transferred to NuPower Renewables Pvt Ltd, a company controlled by Deepak Kochhar, just one day after ICICI Bank disbursed the sanctioned loan to Videocon. The ₹64 crore came from Supreme Energy Pvt Ltd, linked to Videocon’s promoter Venugopal Dhoot. While Dhoot was shown as the formal owner, the tribunal found that Deepak Kochhar exercised actual control over Supreme Energy, revealing a concealed financial arrangement.

The judgment overturned an earlier order passed in 2020 that had allowed the release of assets worth ₹78 crore, which were attached by the Enforcement Directorate. The appellate tribunal criticised the lower authority for ignoring crucial facts and passing an order that lacked evidentiary backing. It upheld that the assets were indeed proceeds of crime and confirmed the money laundering allegations.

Chanda Kochhar was also found to have failed in disclosing her husband’s financial interests during the loan sanctioning process and did not recuse herself, violating ICICI Bank’s internal ethics and conflict of interest policies. The tribunal observed that such lapses from a senior executive indicated deliberate misconduct and a breach of fiduciary responsibility.

The tribunal also accepted the admissibility of statements recorded under Section 50 of the Prevention of Money Laundering Act, which were instrumental in confirming the money trail and sequence of events. It concluded that the structured flow of funds and their timing established the intent to facilitate a corrupt financial transaction.

The ruling is expected to have a significant impact on ongoing legal proceedings against Chanda Kochhar and Deepak Kochhar. It has also reignited the debate around corporate governance in India’s banking sector, particularly regarding how institutions handle internal oversight and transparency among top executives

Shivraj Singh Chouhan to Visit Assam Amid Flood and Drought Crisis

VNE Correspondent
-
0
Shivraj Singh Chouhan to Visit Assam Amid Flood and Drought Crisis

Union Agriculture Minister Shivraj Singh Chouhan is slated to visit Assam in the coming days to assess the dual impact of floods and drought on the state’s farming sector. The announcement came during a high-level meeting in New Delhi with ministers from Assam and Rajasthan, where Chouhan expressed serious concern over the hardships faced by the agrarian community in the North Eastern state.

“We are committed to standing by the farmers of Assam in this time of distress. I will soon visit the state to hear their concerns firsthand and coordinate relief measures,” the Union Minister said during the discussion.

Assam, which has been grappling with erratic weather patterns this monsoon, is witnessing widespread agricultural damage due to alternating spells of inundation and water scarcity. In response, the Centre has initiated targeted support to mitigate the damage and ensure continuity in crop production.

To support resilient farming, Chouhan has directed the immediate notification of region-suitable crop varieties including rajma (kidney beans), masoor (red lentils), arhar (pigeon pea), and sunflower for Assam. These crops are considered better suited to the evolving agro-climatic conditions in the state and are expected to help farmers adapt to future climate uncertainties.

In a major boost to sustainable agriculture in the region, the Union Minister also announced a one-year extension of the Mission Organic Value Chain Development for the North Eastern Region (MOVCDNER) specifically for Assam. The scheme has been instrumental in promoting organic practices, improving market access, and increasing incomes of tribal and smallholder farmers.

During the meeting, Chouhan acknowledged that fake seeds and fertilisers remain a persistent threat to farmers across the country, including Assam. He assured that the Centre will take stricter legal measures to prevent such fraudulent practices.

“We are extremely serious about the issue of fake seeds and fertilisers, and we will make the law stricter,”
Chouhan asserted, adding that stronger oversight mechanisms are being planned to safeguard farmers.

While the meeting also included discussions with Rajasthan officials on drought preparedness and seed quality issues, the primary focus remained on urgent agricultural interventions in Assam. Officials from the Union Agriculture Ministry have been instructed to expedite support and coordination with the state government.

The proposed visit by Chouhan marks the Centre’s renewed attention toward the North East, particularly as climate-related challenges increasingly threaten the region’s agricultural economy.

Parliamentry Committee allocates 16 hours to debate Operation Sindoor in Lok Sabha

VNE Correspondent
-
0
Parliamentry Committee allocates 16 hours to debate Operation Sindoor in Lok Sabha

The Lok Sabha will devote 16 hours to debate Operation Sindoor, the counter-terror mission launched by the Indian Armed Forces following the recent Pahalgam terror attack, as decided in the Business Advisory Committee meeting held on the opening day of Parliament’s Monsoon Session.

Despite this major development, the inaugural day was marred by continuous protests from the opposition benches, demanding immediate discussions on the attack and the government’s response. Their disruptions led to three adjournments in the Lower House before any substantial business could be transacted.

Parliamentary Affairs Minister Kiren Rijiju and Defence Minister Rajnath Singh addressed the House, assuring members that the government was prepared to discuss all national concerns, including the attack in Jammu and Kashmir. However, the opposition remained unrelenting, insisting on prioritising the debate without delay.

Meanwhile, the Rajya Sabha functioned with relative order after an initial adjournment. It conducted Question Hour, addressed Special Mentions, and passed the Lading Bill, 2025 after deliberations.

Along with the time allocated for Operation Sindoor, the Lok Sabha will also dedicate 12 hours to discuss the Income Tax Bill, 2025, while the Rajya Sabha has been allotted 9 hours for the same legislation.

In a significant parallel development, 145 Lok Sabha MPs submitted a memorandum to Speaker Om Birla, seeking the removal of Justice Yashwant Varma. The impeachment motion, brought under Articles 124, 217, and 218 of the Constitution, pertains to allegations involving a large recovery of cash from the judge’s residence. Parliament is now expected to initiate a formal inquiry into the matter.

As the Monsoon Session proceeds, the combination of legislative urgency and political confrontation sets the stage for high-stakes discussions in both Houses.

Death Toll Rises to 27 in Dhaka Jet Crash; 25 Children Confirmed Dead

VNE Correspondent
-
0
Death Toll Rises to 27 in Dhaka Jet Crash; 25 Children Confirmed Dead

The death toll from Monday’s jet crash at Milestone School and College in Dhaka has climbed to 27, with officials confirming that 25 of the victims were children, many under the age of 12.

At a press briefing on Tuesday morning, Professor Md Sayedur Rahman, special assistant for health and family welfare to the chief adviser, said that 78 people were injured in the crash and are receiving treatment at various hospitals. Five of them remain in critical condition at the National Institute of Burn and Plastic Surgery.

“Among the deceased, 25 are children. The others are the pilot of the aircraft and a female schoolteacher,” Rahman said. He added that 20 of the deceased have been identified and their bodies handed over to their families.

The tragic incident occurred on Monday afternoon when a training aircraft crashed directly into the school building during class hours, sparking a fire that quickly engulfed multiple classrooms. The cause of the crash is still under investigation.

Security measures at the National Institute of Burn and Plastic Surgery have been tightened following the arrival of large crowds of relatives and onlookers. Army personnel have been deployed to manage access and assist with crowd control.

The Bangladesh government has assured full support to the families of the victims. Prime Minister Sheikh Hasina offered her condolences and directed authorities to ensure the best medical care for the injured.

Classes at Milestone School and College remain suspended, and a formal inquiry is underway to determine the cause and accountability behind the incident

Vice Presidential Polls to Be Held As Soon As Possible: EC

VNE Correspondent
-
0
Vice Presidential Polls to Be Held As Soon As Possible: EC

The Election Commission of India (ECI) on Monday confirmed that the process to elect the country’s next Vice President will be conducted “as soon as possible,” as the term of the incumbent Vice President Jagdeep Dhankhar draws to a close.

Responding to mounting queries about the timeline for the vice presidential election, a senior official from the poll panel stated that the Commission is preparing to notify the schedule shortly, in accordance with constitutional provisions.

The Vice President of India is elected by an electoral college comprising members of both the Lok Sabha and the Rajya Sabha. The current Vice President, Jagdeep Dhankhar, assumed office in August 2022. His five-year tenure is expected to end in August 2027, but an early poll is necessitated in light of his likely elevation to another constitutional role, sources indicated.

While the ECI has not provided a specific date yet, it emphasized that the election would be conducted well within the constitutional deadline and with full transparency.

Political circles are already abuzz with speculation over potential candidates. Leaders from various parties have begun informal consultations, though no formal nominations have been made.

According to Article 66 of the Constitution, the Vice President is elected through a system of proportional representation by means of a single transferable vote, ensuring that the outcome reflects the strength of different political blocs in Parliament.

The Vice President also serves as the ex-officio Chairperson of the Rajya Sabha, making the role crucial for the functioning of the Upper House.

More details are expected to emerge once the Election Commission formally announces the poll schedule in the coming days.

Neiphiu Ri Orders Urgent Survey, Roadwork Plan for Landslide-Hit NH-29

VNE Correspondent
-
0
Neiphiu Ri Orders Urgent Survey, Roadwork Plan for Landslide-Hit NH-29

Nagaland Chief Minister Neiphiu Rio on Monday conducted a field inspection of the landslide-affected section of National Highway-29 between Kohima and Dimapur, where heavy monsoon rains have caused major road damage and disruptions.

Joined by Deputy Chief Minister T R Zeliang and key officials from the State Public Works Department (PWD), the district administration, and Jotsoma village, the chief minister assessed areas where road segments have caved in, including a precarious stretch near the old Kohima Municipal Council dumping site.

Rio directed the PWD to carry out a fresh survey for new road alignment in the affected zones and instructed district officials to initiate talks with landowners to resolve compensation issues. He stressed the need for durable long-term infrastructure, such as reinforced drainage systems and larger hume pipes, to prevent future landslides.

Calling for a statewide assessment of highway damages, the chief minister asked for a consolidated proposal for post-monsoon restoration work.

Jotsoma village leaders raised concerns over potential land subsidence endangering their homes and urged quick construction of retaining walls. Rio assured villagers that all necessary steps were being taken to ensure safety and road connectivity.

Deputy CM Zeliang told reporters that the Centre has sanctioned Rs 24 crore for repairs along the 12-kilometre stretch. Tenders for the work, floated on June 23, will be opened on July 30. He added that the government is evaluating modern slope protection techniques using geotextile and geosynthetic materials, currently being tested in the Pagla Pahar region.

Meanwhile, NH-2 at Phesama remains blocked due to continuing mudslides and land ownership disputes. A joint site visit involving top officials and contractors is scheduled for Tuesday to push for quicker restoration.

The state is also examining the feasibility of an alternative route between Kohima and Mao in Manipur to bypass the unstable terrain, subject to local cooperation and land availability.

1...202122...49Page 21 of 49