MOSCOW: Russian President Vladimir Putin won a landslide re-election victory on Sunday, extending his rule over the world's largest country for another six years at a time when his ties with the West are on a hostile trajectory.
Putin's victory will extend his total time in office to nearly a quarter of a century, until 2024, by which time he will be 71. Only Soviet dictator Josef Stalin ruled for longer. Putin has promised to use his new term to beef up Russia's defences against the West and to raise living standards.
In a widely expected outcome, an exit poll by pollster VTsIOM showed Putin, who has dominated the political landscape for the last 18 years, had won 73.9 percent of the vote. The Central Election Commission, speaking after almost a third of the votes had been counted, put Putin on 73 percent.
Backed by state TV, the ruling party, and credited with an approval rating around 80 percent, his victory was never in doubt. His nearest challenger, Communist Party candidate Pavel Grudinin, got just over 11 percent, according to exit polls, while nationalist Vladimir Zhirinovsky got around 6 percent.
None of the seven candidates who ran against him posed a threat, and opposition leader Alexei Navalny was barred from running. Critics alleged that officials had compelled people to come to the polls to ensure that voter boredom at the one-sided contest did not lead to a low turnout.
Russia's Central Election Commission recognised that there were some irregularities, but was likely to dismiss wider criticism and declare the overall result legitimate.
Putin loyalists said the result was a vindication of his tough stance towards the West.
"I think that in the United States and Britain they've understood they cannot influence our elections," Senator Igor Morozov said on state television.
Valentina Matviyenko, a close Putin ally and speaker of the upper house of parliament, hailed the victory as a moral one over the West.
"Our elections have proved once again ... that it's not possible to manipulate our people," she said. "People came together. No other country in the world has such open and transparent elections."
The immediate question is if and when opponents like Navalny organise protests, citing fraud, and how large and sustained those protests will be. A senior opposition politician has warned they could descend into street clashes if police crack down too hard on demonstrators.
The longer-term question is whether Putin will soften his anti-Western rhetoric now the election is won.
Exit polls suggest Vladimir Putin easily wins re-election
Exit polls suggest Vladimir Putin easily wins re-election
India, EU agree on trade deal slashing tariffs on 99.5% of Indian exports
- Agreement expected to be signed later this year and come into force in early 2027
- Duty cuts on 99.5% Indian exports to EU unlikely to offset US tariff impact, expert says
NEW DELHI: India and the EU have concluded negotiations on a deal creating a free trade zone of 2 billion people, European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi said on Tuesday.
Talks for the pact, referred to by both leaders as the “mother of all deals,” started in 2007 and stalled repeatedly over the years, with the negotiation process only speeding up last year, following new US tariff polices.
The agreement is expected to be signed later this year and may come into force in early 2027.
“People around the world are calling it the ‘mother of all deals.’ This agreement brings huge opportunities for India’s 1.4 billion people and for millions of people across European countries,” Modi said during a joint press conference with Von der Leyen and European Council President Antonio Costa in New Delhi.
“It represents 25 percent of the global GDP and one-third of global trade.”
The deal paves the way for India to open its vast market to free trade with the EU, its biggest trading partner, and gain preferential access for almost all of its exports to the 27-nation European bloc.
“We have created a free trade zone of 2 billion people, with both sides set to gain economically,” Von der Leyen said. “We have sent a signal to the world that rules-based cooperation still delivers great outcomes.”
The conclusion of negotiations comes as US President Donald Trump slapped India with 50 percent tariffs and has threatened to impose new duties on several EU countries unless they support his efforts to take over Greenland.
“This is a signal to the US that like-minded entities, EU and India, are willing to come together and work together,” Prof. Harsh V. Pant, vice president of the Observer Research Foundation, told Arab News.
“Here are two countries that are bringing in a greater predictability and less volatility in their relationship, and they will move ahead irrespective of what the US does.”
The deal is expected to double EU goods exports to India by 2032 as tariffs on 96.6 percent of EU goods exports — from automobiles and industrial goods to wine and chocolates — will be eliminated or reduced, saving up to $4.75 billion per year in duties on European products, according to a European Commission press release on Tuesday.
At the same time, the EU will eliminate or reduce tariffs on 99.5 percent of goods imported from India over seven years, India’s Ministry of Commerce and Industry said in a statement, projecting gains mainly in labor-intensive sectors like textiles, leather, marine products, gems and jewelry.
“Indian services will also benefit from the trade deal. But, more than just export growth, the deal is part of a broader EU-India alliance on green tech, critical raw materials, digital rules and other aspects, which should channelize higher FDI (foreign direct investment) into India,” said Dr. Anupam Manur, professor of economics at the Takshashila Institution.
“India can potentially have a welfare and income gain of 0.5 percent of its GDP in the long run. It would also boost Indian exports to the EU by about $5 billion from the current level of about $76 billion.”
The agreement is unlikely to fully compensate for a slowdown in trade with the US.
“In the near term, this will partially offset the loss of exports to the US due to tariffs but cannot be expected to entirely mitigate it. Shifting supply chains and exports take time,” Manur said.
“The implementation of the FTA would take about a year’s time. The deal is expected to come into force by early 2027.”
