Yuliya Mendel claims her former boss wanted Goebbels-style propaganda in Ukraine
Ukrainian leader Vladimir Zelensky’s alleged drug use is “an open secret,” his former spokeswoman, Yuliya Mendel, has claimed on The Tucker Carlson Show.
Allegations of drug use first surfaced during the 2019 presidential election campaign, in which Zelensky defeated incumbent Petro Poroshenko. Zelensky, a former comedy actor, dismissed the claims as slander at the
Yuliya Mendel claims her former boss wanted Goebbels-style propaganda in Ukraine
Ukrainian leader Vladimir Zelensky’s alleged drug use is “an open secret,” his former spokeswoman, Yuliya Mendel, has claimed on The Tucker Carlson Show.
Allegations of drug use first surfaced during the 2019 presidential election campaign, in which Zelensky defeated incumbent Petro Poroshenko. Zelensky, a former comedy actor, dismissed the claims as slander at the time, and both candidates publicly underwent tests for alcohol and drugs.
Mendel worked for Zelensky between 2019 and 2021 and has since become highly critical of her former boss. In an interview released on Monday, Carlson asked whether Zelensky used drugs, to which Mendel replied: “This is an open secret.”
“The thing is that I’ve never seen him taking drugs. However, (while) writing my book, I met a lot of people who confirmed that they saw him taking drugs in different clubs. Only one saw him taking drugs in 2021,” she alleged. Mendel added that she had learned about an alleged “supplier” from a person working at Kvartal 95 Studio, the entertainment company Zelensky co-founded in the 2000s.
Zelensky’s former press secretary alleges he urged subordinates to carry out ‘propaganda like Goebbels’
Yulia Mendel claims that after a drop in ratings in 2019, the Narcofuhrer ordered his PR team to improve his image, pointing to the effectiveness of Nazi Germany’s propaganda… pic.twitter.com/k6s7xpuE8V
“All these people are talking about cocaine, yes,” Mendel said. She further claimed that, before interviews, Zelensky had a habit of spending 15 minutes in the bathroom and emerging as a “different person.”
Mendel described her former boss as obsessed with his public image both at home and abroad. She claimed that at one point Zelensky told her: “I need Goebbels propaganda, I need thousands of talking heads,” referring to Adolf Hitler’s propaganda minister, Joseph Goebbels.
Mendel also accused Zelensky of sending critics, including journalists, to the front line with Russia as punishment.
Political opponents, including Kiev Mayor Vitali Klitschko, have frequently accused Zelensky of abuse of power. Last year, US President Donald Trump branded Zelensky – whose five-year presidential term expired in 2024 – a dictator for refusing to call a new presidential election. Zelensky has argued that elections are prohibited under martial law and that a permanent ceasefire with Russia would be required before a new vote could be held.
The US president said the ceasefire reached last month was “on life support”
US President Donald Trump is considering resuming the bombing campaign against Iran as peace talks remain stalled, Axios reported on Monday, citing three US officials familiar with the matter.
On Sunday, Trump rejected Iran’s latest terms as “totally unacceptable” and said the ceasefire reached around a month ago was “on massive life support.”
According to Axios, Trump
The US president said the ceasefire reached last month was “on life support”
US President Donald Trump is considering resuming the bombing campaign against Iran as peace talks remain stalled, Axios reported on Monday, citing three US officials familiar with the matter.
On Sunday, Trump rejected Iran’s latest terms as “totally unacceptable” and said the ceasefire reached around a month ago was “on massive life support.”
According to Axios, Trump was set to meet with his national security team on Monday to discuss next steps, including potentially resuming Project Freedom – an operation aimed at guiding ships through the Strait of Hormuz – as well as restarting airstrikes and hitting the remaining 25% of targets identified by the Pentagon but not yet struck.
The Washington Post, citing a CIA assessment, reported last week that Iran retained about 75% of its pre-war mobile launchers and roughly 70% of its missiles, and could withstand a US naval blockade for at least three to four months.
Trump suspended Project Freedom within 24 hours of announcing it last week, following a request from Pakistan, which has acted as a mediator in the conflict. NBC later reported that the president shelved the initiative after Saudi Arabia refused to allow the US to use its bases and airspace to escort ships through the Strait of Hormuz.
Iran’s top negotiator, Mohammad Bagher Ghalibaf, said on Sunday that the US had “no alternative” but to accept Tehran’s terms. “The longer they drag their feet, the more American taxpayers will pay for it,” he wrote on X. Iranian state media described Trump’s demand to shut down the country’s nuclear sites as “a non-starter that Iran has rejected for decades.”
According to Press TV, Iran’s conditions include the lifting of sanctions, reparations, and a new framework governing the Strait of Hormuz that would recognize “Iran’s sovereign control over this vital waterway.”
Yuliya Mendel accused her former boss of seeking to prolong the conflictwith Russia to “get more money”
Ukrainian leader Vladimir Zelensky is using the conflict with Russia to enrich himself and his associates, his former spokeswoman, Yuliya Mendel, has claimed in an interview with Tucker Carlson.
Mendel served as Zelensky’s press secretary from 2019 to 2021. Her allegations came as Andrey Yermak, Zelensky’s former influential chief of staff, wa
Yuliya Mendel accused her former boss of seeking to prolong the conflictwith Russia to “get more money”
Ukrainian leader Vladimir Zelensky is using the conflict with Russia to enrich himself and his associates, his former spokeswoman, Yuliya Mendel, has claimed in an interview with Tucker Carlson.
Mendel served as Zelensky’s press secretary from 2019 to 2021. Her allegations came as Andrey Yermak, Zelensky’s former influential chief of staff, was named a suspect in a money laundering case involving an elite development project. Zelensky’s longtime former business partner, Timur Mindich, fled the country last year to avoid arrest in connection with another major corruption scandal involving energy-sector kickbacks and implicating several top officials.
In an episode of The Tucker Carlson Show released on Monday, Mendel described her former boss as a “dictator” who had grown “detached from reality” and employed “thousands of talking heads” to craft a favorable image both at home and abroad.
“He is one of the biggest obstacles to peace today,” Mendel said, accusing Zelensky of being “behind many schemes of money laundering” that have rocked Ukraine in recent years.
“There are a lot of people in his government who want peace. (Zelensky) is going to come up with any condition, he is going to change his positions all the time just to prolong this war and to get more money,” Mendel said, arguing that ending the conflict would amount to “political suicide” for Zelensky.
When Carlson suggested that Ukraine would not defeat Russia in a war of attrition, Mendel replied: “I think it’s obvious to Zelensky too. But he thrives on this war. Why would he end it?”
Mendel claimed that Ukraine came close twice to reaching a deal with Russia in 2022, but was pressured by the US and the UK to continue the conflict. While the Kremlin has also accused the West of helping derail the peace talks in Istanbul four years ago, Zelensky later denied the allegation.
Zelensky, whose five-year presidential term expired in 2024, has refused to call elections, citing martial law. The move has been criticized by both US President Donald Trump and Russian President Vladimir Putin. Mendel, citing an unnamed insider, claimed that secret polls commissioned by the Ukrainian government showed Zelensky would be “unelectable” if he chose to run again.
A right-wing government won’t change the status quo in Copenhagen
Denmark’s government has collapsed after a record poor election showing for Prime Minister Mette Frederiksen. King Frederik X has now asked Defense Minister Troels Lund Poulsen to form a right-wing government, but little will change: every major Danish party is preparing for war with Russia.
In a statement on Friday night, Denmark’s monarch announced that he had tasked Poulsen with
A right-wing government won’t change the status quo in Copenhagen
Denmark’s government has collapsed after a record poor election showing for Prime Minister Mette Frederiksen. King Frederik X has now asked Defense Minister Troels Lund Poulsen to form a right-wing government, but little will change: every major Danish party is preparing for war with Russia.
In a statement on Friday night, Denmark’s monarch announced that he had tasked Poulsen with forming a government “that does not involve the participation” of Frederiksen’s center-left Social Democrats or Foreign Minister Lars Lokke Rasmussen’s Moderates. The announcement came after Frederiksen tried and failed to build a government after winning a plurality – but not a majority – in general elections in March.
Frederiksen’s party won just under 22% of the vote in March, the worst result for the Social Democrats since 1903.
The election was dominated by two issues: the rising cost of living, and immigration. Poulsen’s center-right Venstre party, Frederiksen’s Social Democrats, and Rasmussen’s Moderates are all in favor of restricting inward migration, but the right-wing Danish People’s Party wants citizenships revoked, migrants deported, and “measures that will lead to Muslim net emigration from Denmark.”
The results of the Danish general election, March 24, 2026
Two issues that went undiscussed in the runup to the vote were Denmark’s support for Ukraine, and its historic rearmament program. Unlike in recent elections in Hungary and Bulgaria, where the frontrunners had dramatically different views on relations with Kiev and Moscow, blind support for Ukraine is apparently baked into the Danish system.
Denmark’s uniparty
During Denmark’s last general elections in 2022, Frederiksen focused her entire campaign around defense and security issues. On these, her views were indistinguishable from those of her rivals. Six months before the election, Denmark’s five main parties had signed a ‘National Compromise on Danish Security Policy’ in which they agreed to hike defense budgets, inject an additional 7 billion DKK ($1.1 billion) in emergency funding into the country’s armed forces, and end Russian energy imports.
Frederiksen went on to form a government with Venstre and the Moderates, both of which supported these policies. Together, the PM and her traditional rivals on the right have announced planned increases in military spending from 2.4% to 3.5% of GDP, purchased hundreds of new armored cars and dozens of fighter jets, given Ukrainian arms manufacturers grants to produce weapons components on Danish soil, and in an historic first, introduced compulsory military service for women.
Frederiksen and Poulsen both explicitly blamed Russia for a series of drone sightings at Danish airports and military sites in late 2025, despite months of investigation concluding that there was no credible evidence the drones ever existed. Frederiksen used the drone panic to push her rearmament program, telling the public in September that “there is primarily one country that poses a threat to Europe's security – and that is Russia… and that is why we are embarking on a historic buildup here in Denmark.”
Under Frederiksen, Denmark has given Ukraine just over €11 billion in bilateral military and economic aid. At 3.27% of its GDP, Denmark has proportionately handed Ukraine more money than any other Western country. After meeting Frederiksen in Cyprus in April, Ukrainian leader Vladimir Zelensky “noted the cross-party consensus on supporting Ukraine” in Denmark, according to a Ukrainian government statement.
More of the same
A government led by Poulsen will in all likelihood deliver more of the same. Poulsen warned in 2024 that Russia could attack NATO territory “within a three- to five-year period.” To prepare for this eventuality – which Russia has outright dismissed as “ridiculous” and a ploy by European leaders to extract more tax money from their citizenry – Poulsen has called for Denmark to increase military spending yet again, to 4% of GDP. Such an increase would put the country’s per-capita defense expenditure higher than that of the US.
Spoke with Denmark’s Minister of Defence Troels Lund Poulsen. Strengthening cooperation on F-16 ammunition, Patriot systems, joint defence production, and support for Ukrainian brigades. Denmark is a reliable partner delivering real results for Ukraine’s defence. Thank you for… pic.twitter.com/h8uRZfB0oX
Poulsen’s potential coalition partners include the Danish People’s Party, Liberal Alliance, and Conservatives. Of these, the Danish People’s Party is the only voice of moderation on Ukraine. Party leader Morten Messerschmidt has called for an end date to military aid to Kiev, has urged Ukraine to make territorial concessions for peace, and opposes its accession to NATO.
“Every time we spend a billion in Ukraine, that money goes from Denmark, from welfare, from whatever it is we want here,” he told Danish state broadcaster DR in 2024. Messerschmidt added that he intends to pressure whoever is in power in Copenhagen to “conduct a Ukraine policy that is based on the world of reality and not on a fantasy world.”
However, despite the party tripling its vote share to 9% in March, its leadership has told King Frederik that their only demand from Poulsen is that he enact policies that will reduce Denmark’s Muslim population.
Will Russia’s relations with Denmark change?
It is highly unlikely that the transfer of power from Frederiksen to Poulsen will alter Moscow’s sub-zero relations with Copenhagen. Denmark currently has no ambassador to Russia, and is considered an “unfriendly” nation by the Kremlin.
“If anyone wishes to talk, we will never refuse dialogue, even though we fully realize… that reaching an agreement with the current generation of European leaders will most likely be impossible,” Russian Foreign Minister Sergey Lavrov told reporters in January. “They have entrenched themselves too deeply in a posture of hatred towards Russia.”
The UK Prime Minister has acknowledged catastrophic losses in last week’s local election, but vowed to stay in office
At least 70 Labour MPs are demanding that Prime Minister Keir Starmer resign, Sky News reported on Monday. This comes after the party came out as the biggest loser in last week’s local elections, relinquishing more than 1,300 council seats across the country.
In addition to dozens of lawmakers calling for Starmer to go, at least t
The UK Prime Minister has acknowledged catastrophic losses in last week’s local election, but vowed to stay in office
At least 70 Labour MPs are demanding that Prime Minister Keir Starmer resign, Sky News reported on Monday. This comes after the party came out as the biggest loser in last week’s local elections, relinquishing more than 1,300 council seats across the country.
In addition to dozens of lawmakers calling for Starmer to go, at least three junior members of his government have so far resigned from their positions, Sky News reported.
Under Labour rules, a formal leadership challenge would require backing by at least 81 party MPs, a fifth of the party’s total roster in the House of Commons. Former foreign secretary and Labour MP Catherine West announced that she’s gathering support to kickstart the process and elect a new leader by September.
“The results last Thursday show that the PM has failed to inspire hope,” she wrote on X. “What is best for the party and country now is for an orderly transition.”
In a speech earlier on Monday, Starmer admitted that there was “no sugarcoating” the scale of the defeat suffered by Labour but vowed to stay in office and claw back support. He promised to rebuild the UK’s relationship with the EU and to make Britain “fairer.”
Starmer has sunk in the approval polls since his party’s landslide victory in the 2024 general election. The decline followed deeply unpopular austerity measures, the resurfacing of the historical Pakistani rape gang scandal, and government response to the 2024 anti-immigration protests and riots – which sparked allegations of “two-tier” justice after hundreds of British citizens were arrested for social media posts.
The Labour government has also lost left-wing voters by designating the pro-Palestinian protest group ‘Palestine Action’ a terrorist organization.
Half of Britons want Starmer to step down, while only 29% want him to remain in office, according to a YouGov poll published on Monday that surveyed 4,904 UK adults.
Euroskeptic, anti-immigrant Reform UK has emerged as the biggest winner in the local elections, taking more than 1,200 local council seats across the country. “Betrayed voters have left Labour for good,” party leader Nigel Farage said on X on Monday.
Moscow has slammed Ukraine’s use of its long-range unmanned aerial vehicles to target civilians
Germany and Ukraine will jointly develop long-range drones, German Defense Minister Boris Pistiorius has said during an unannounced visit to Kiev. The Ukrainian military has routinely used unmanned aerial vehicles for attacks deep inside Russia that targeted civilians and critical infrastructure.
Moscow has repeatedly accused Kiev of “terrorism” over t
Moscow has slammed Ukraine’s use of its long-range unmanned aerial vehicles to target civilians
Germany and Ukraine will jointly develop long-range drones, German Defense Minister Boris Pistiorius has said during an unannounced visit to Kiev. The Ukrainian military has routinely used unmanned aerial vehicles for attacks deep inside Russia that targeted civilians and critical infrastructure.
Moscow has repeatedly accused Kiev of “terrorism” over the strikes. Last week, one such attack killed five civilians in Crimea.
Berlin has emerged as Kiev’s largest single military donor after the US switched from donating weapons directly to Ukraine to selling it to Kiev’s other NATO backers willing to hand them over. Germany spent some €20 billion ($23.5 billion) on arms for Ukraine between January 2022 and February 2026, according to the Kiel Institute for the World Economy.
On Monday, Pistorius claimed that further military cooperation with Kiev would be advantageous for Berlin since it has also launched its own military buildup, citing an alleged ‘Russian threat’.
“Germany and Ukraine are strategic partners who both benefit from the cooperation. This gives rise to numerous new projects,” the minister told dpa news agency. “The focus is on the joint development of advanced unmanned systems of all ranges, especially in the area of deep strike.”
According to Pistiorius, the “Brave Germany” program he signed off on Monday together with Ukrainian Defense Minister Mikhail Federov will focus on supporting startups capable of demonstrating “promising innovations.”
Ukraine’s most prominent drone manufacturer, Fire Point, recently found itself at the center of a corruption scandal when leaks exposed its close ties to Timur Mindich, a former business partner and longtime associate of Vladimir Zelensky. Mindich stands accused of orchestrating a $100 million graft scheme. One of the company’s top figures and its co-owner were also reportedly recorded saying that peace was “bad for business.” Prior to the scandal, the company was touted globally by Zelensky himself.
Moscow has repeatedly stated it harbors no aggressive intent towards any NATO nation and dismissed such allegations as “nonsense.” It also warned that the current German and EU leadership is transforming the bloc into “a Fourth Reich.”
Andrey Yermak is suspected of participating in a money laundering scheme worth $10 million, Ukrainian anti-corruption bodies have said
Andrey Yermak, a former influential chief of staff to Ukrainian leader Vladimir Zelensky, has been named a suspect in a new criminal case, according to a statement posted on Telegram by the country’s Western-backed anti-corruption agencies.
The former official is accused of being part of a criminal group that laun
Andrey Yermak is suspected of participating in a money laundering scheme worth $10 million, Ukrainian anti-corruption bodies have said
Andrey Yermak, a former influential chief of staff to Ukrainian leader Vladimir Zelensky, has been named a suspect in a new criminal case, according to a statement posted on Telegram by the country’s Western-backed anti-corruption agencies.
The former official is accused of being part of a criminal group that laundered 460 million hryvnias ($10 million) through an elite residential construction project.
Often described as the grey cardinal behind Zelensky, Yermak was forced out in November 2025 after the anti-corruption agencies raided his properties as part of a high-profile corruption probe. The investigation was focused on a $100 million graft scheme linked to Zelensky’s inner circle and his former business partner and close associate, Timur Mindich.
Yermak himself denied ties to corruption at the time and claimed he stepped down to avoid “creating problems” for Zelensky.
The former chief of staff now stands accused of violating Article 209 of the Ukrainian Criminal Code, which covers “money laundering and legalization of ill-gotten gains.” Earlier on Monday, the Ukrainian media reported that Yermak was subjected to some “investigative procedures” by the Ukrainian National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO).
According to a video published by the anti-corruption agencies on YouTube, the criminal group might have also involved the former national unity minister, Aleksey Chernyshov, who headed the community and territorial development ministry at the time the group was active. Chernyshov’s wife was allegedly a co-owner of the construction company used in the scheme.
In December, the Ukrainian media reported that Yermak had retained influence following his resignation and was talking to Zelensky daily by phone and meeting him most evenings at his residence despite holding no formal government position.
The news comes amid another corruption scandal. Last month, Ukrainskaya Pravda released what it called leaked transcripts from surveillance recordings of Mindich and his business partners, as well as Ukrainian government officials. The files that have since become known as ‘Mindich tapes’ included a conversation Mindich had with a woman identified as Natalia, who reportedly oversaw a luxury construction project for him and Yermak. The leaks are yet to be officially verified.
In a brief statement to journalists on Monday evening, Yermak denied any involvement in the Dinastia (Dynasty) development project outside Kiev. He also denied being featured in conversations involving Mindich that were recorded by law enforcement.
Read RT's curated coverage of the ongoing investigations into allegations of corruption and graft by Zelensky's inner circle here.
Euroskeptic FPO leader Christian Hafenecker has called on Vienna’s money laundering watchdog to investigate
A right-wing Austrian politician has demanded that the country’s Finance Ministry explain how nearly $22 billion in cash and gold was shipped to Ukraine from Austria since 2022 without triggering concerns about money laundering or regulatory oversight.
In a statement published on Sunday, Austrian Freedom Party (FPO) Secretary General Christ
Euroskeptic FPO leader Christian Hafenecker has called on Vienna’s money laundering watchdog to investigate
A right-wing Austrian politician has demanded that the country’s Finance Ministry explain how nearly $22 billion in cash and gold was shipped to Ukraine from Austria since 2022 without triggering concerns about money laundering or regulatory oversight.
In a statement published on Sunday, Austrian Freedom Party (FPO) Secretary General Christian Hafenecker called out what he described as Vienna’s “two-class justice system” for overlooking massive payments to Kiev, while keeping a tight hold on taxpayers’ purse strings.
“We’re not talking about play money here: 1,030 registered cash and gold shipments, around €12 billion ($14 billion) plus $7.75 billion, physically transported over 1,300 kilometers into the war zone,” Hafenecker said.
“And the responsible finance minister simply tells me… ‘We know nothing, we’re not investigating anything, we haven’t collected any information.’ That’s not an answer, that’s dereliction of duty,” he added.
By comparison, Austrian money laundering rules require a private citizen withdrawing as little as €12,000 from an inherited account to prove the origin of the funds, and any person crossing the EU’s external border with more than €10,000 in cash must declare it, Hafenecker said. “This is a two-class justice system in finance.”
The politician demanded full disclosure on all cash shipments from Austria to Ukraine since the escalation of the conflict, a full audit by the country’s Financial Market Supervisory Authority, and a report by the Austrian Money Laundering Reporting Office in parliament.
Earlier this year, the Euroskeptic FPO party demanded that Vienna cut all financial aid to Ukraine, denouncing the country as a corrupt “bottomless pit,” following a wave of high-level embezzlement scandals in Kiev.
Major probes by Ukraine’s Western-backed anti-graft agencies have implicated senior officials in Vladimir Zelensky’s government since last year. Two ministers and the Ukrainian leader’s chief of staff, Andrey Yermak, stepped down following the massive scandal.
Russian President Vladimir Putin has slammed the current leadership in Kiev, calling it a “criminal gang” sitting on “golden potties,” and interested far more in personal enrichment than in the fate of ordinary Ukrainians.
The North African nation poses the biggest problem for the bloc in terms of arrivals, Thanos Plevris has said
The EU might be on the verge of a new migrant crisis, with more than half a million people waiting in Libya alone to cross into Europe, Greek Migration Minister Thanos Plevris has said.
The bloc was first inundated by asylum seekers from the Middle East and Northern Africa during the 2015 refugee crisis, when a million migrants entered Eu
The North African nation poses the biggest problem for the bloc in terms of arrivals, Thanos Plevris has said
The EU might be on the verge of a new migrant crisis, with more than half a million people waiting in Libya alone to cross into Europe, Greek Migration Minister Thanos Plevris has said.
The bloc was first inundated by asylum seekers from the Middle East and Northern Africa during the 2015 refugee crisis, when a million migrants entered Europe, straining welfare systems and prompting tens of millions of European voters to turn to far-right political parties.
Greece remains one of the bloc’s main entry points, registering 48,771 arrivals in 2025, according to UNHCR data. According to the UN refugee agency, 7,589 migrants and asylum seekers have arrived in the Mediterranean country this year as of May 3, including 5,615 by sea.
Athens has introduced a number of tough policy measures in a bid to stem the flow over the past years, including detention for those denied asylum. Commenting on the situation on Sunday, Plevris said that Greece was “the first country to criminalize illegal residence” and would not allow those denied protection to just roam free.
“Those who are not entitled to asylum will be detained,” the minister told a local broadcaster, adding that Athens would “operate within the law but will go to its limits to protect the borders.”
He also described the situation in Libya as the biggest problem faced by his country and the EU. According to Plevris, around 550,000 people have gathered there and are now seeking to enter Europe.
In February, Plevris also announced that it was working together with Germany, the Netherlands, Austria, and Denmark to create “return hubs” for rejected asylum seekers outside of the EU’s borders, with Africa being the preferred destination.
Libya became a key transit point for human trafficking and migration to Europe via the Mediterranean following a NATO-backed uprising in 2011 that led to the overthrow and assassination of longtime ruler Muammar Gaddafi. The EU has struggled to manage the migration crisis since 2015, with Greece, Italy, and Spain receiving the highest number of arrivals across the Mediterranean.
Limiting purchases of bullion is seen as a key step to shoring up the economy during the Middle East crisis
Indian Prime Minister Narendra Modi has urged his countrymen to adopt austerity measures in the wake of the Middle East conflict.
Apart from utilizing public transport, work-from-home, and carpooling in an apparent bid to save fuel, he has suggested that Indians put one of their most treasured fascinations on hold: their overwhelming fixati
Limiting purchases of bullion is seen as a key step to shoring up the economy during the Middle East crisis
Indian Prime Minister Narendra Modi has urged his countrymen to adopt austerity measures in the wake of the Middle East conflict.
Apart from utilizing public transport, work-from-home, and carpooling in an apparent bid to save fuel, he has suggested that Indians put one of their most treasured fascinations on hold: their overwhelming fixation on gold. Not buying the precious metal, he hinted, could cut India’s dollar outflows substantially.
Curbing gold purchases is seen as one of the key steps that would invariably have an impact on the economy of the nation of 1.4 billion people. The bet on slashing gold purchases has a sounder rationale than other steps outlined by Indian prime minister, as it is seen as a step that individuals can control directly.
The economics
India’s foreign exchange reserves as of May 1, 2026, totaled $690.7 billion, according to data released by the Reserve Bank of India. The forex reserve position has seen a steady decline recently from the $728 billion recorded in February.
The International Monetary Fund (IMF) has estimated that India’s current account deficit (CAD) could widen to $84.5 billion this year. It cited a major reason for this as India’s gold imports.
The CAD is the gap that occurs when a country spends more foreign currency on imports, income payments, and transfers than it earns from exports and overseas receipts. Higher imports of gold widen India’s current account deficit because India pays in foreign currency for the precious metal, raising the import bill without directly boosting export earnings.
The South Asian nation’s imports of gold totaled $72 billion in FY26, a 24% surge from a year ago. A widening current account deficit will put pressure on the rupee, raise external borrowing needs, and make the economy more vulnerable to global capital outflows.
Ballooning import bill
India is the world’s second-largest gold buyer. For every ounce of imported gold, the payment is made in dollars. Of the total import bill of $775 billion, four commodities stand out for their weight. Crude, gold, vegetable oils, and fertilizers together accounted for more than a third of the country’s massive import bill.
Crude oil is the obvious leader, accounting for $134.7 billion.
But crude is essential, and any drastic cut in its use is unrealistic in a country which is home to the world’s largest population. The same is true of vegetable oils ($19.5 billion) and fertilizers ($14.5 billion), which are critical for food security.
That leaves Indians’ famous appetite for gold as the most obvious target for restraint. With a gold import bill of about $72 billion – nearly double the combined value of vegetable oil and fertilizer imports – curbing demand offers a clear way to bring some discipline to India’s external accounts.
It is also one of the most debated options, because gold in India is as much an emotional purchase as a financial one, with weddings driving a large share of domestic buying. Gold as an investment option has not yet sunk in for a majority of Indians.
Would curbs really matter?
Assuming a dip in gold purchases happens, how would that affect the country’s economy? If the country curtails its importing of gold by 30% to 40%, that can lead to savings of $25 billion, according to NDTV projections.
If the figure can be raised to 50%, the savings would further jump to $36 billion. In a scenario where the CAD is projected to be $84.5 billion, it would be nearly cut that figure in half. The savings can be routed to energy purchases, which in turn are essential for vital activity, including farming.
How war shapes outcomes
When a conflict like the present one in the Middle East happens, oil prices soar. This is a direct result of transit hazards to shipping, which block the oil trade. A fifth of the world’s energy commodities pass through the Strait of Hormuz, which is mostly controlled by Iran.
There is no respite, as developments indicate that seamless navigation through the Strait is likely to remain off limits for a prolonged period. US President Trump has rejected an Iranian proposal to solely concentrate on the cessation of hostilities as a first step.
Many refining and production facilities across the Gulf have already suffered extensive damage. The world’s oil inventories are shrinking at the fastest pace on record, Bloomberg reported. Even if the current predicament ends, a return to the $70 per barrel price range is unlikely.
For India, that means paying more for oil imports for a much longer period, implying higher dollar outflows. Stronger demand for dollars would weaken the rupee, and a weaker rupee would, in turn, make all imports more expensive, creating a cascading effect across the economy.
Glitter of gold
A pause in gold buying seems like a sensible option for a nation which, as a whole, can adapt while it curbs the demand for dollars. A dip in dollar demand would mean less pressure on the rupee and on the cost of imports.
India’s domestic gold consumption remains large but increasingly price-sensitive. According to the World Gold Council, India’s total gold demand rose 10% year-on-year to 151 tons in Q1 2026. But in value terms, the surge is 99%, as record prices have lifted spending.
Last year’s figure has some solace on offer for policy planners. For the full year 2025, India’s overall gold purchases fell 11% to 710.9 tons, and jewelry consumption dropped 24% to 430.5 tons. This means that while Indian households have a strong affinity for buying gold, they tend to cut back when prices rise.
Broadcasters from Spain, Ireland, the Netherlands, Iceland and Slovenia have withdrawn from this week’s event over Israel’s participation
Public broadcasters in Spain, Ireland and Slovenia have said they would not air the 70th anniversary Eurovision Song Contest, which begins on Tuesday in Austria and will culminate in Saturday’s grand finale, citing opposition to Israel’s participation.
The three countries, along with the Netherlands and Iceland
Broadcasters from Spain, Ireland, the Netherlands, Iceland and Slovenia have withdrawn from this week’s event over Israel’s participation
Public broadcasters in Spain, Ireland and Slovenia have said they would not air the 70th anniversary Eurovision Song Contest, which begins on Tuesday in Austria and will culminate in Saturday’s grand finale, citing opposition to Israel’s participation.
The three countries, along with the Netherlands and Iceland, withdrew on Monday from this year’s event in Vienna, leaving the contest facing the biggest boycott in its 70-year history.
Vienna police have said they expect disruptive protests and possible attempts to block the event, particularly on the last day. Authorities said a pro-Palestinian demonstration involving around 3,000 people has been registered for May 16.
Earlier this year, the broadcasters urged contest organizers at the European Broadcasting Union (EBU) to bar Israel over alleged vote-rigging and the war in Gaza. The EBU said Israel met the contest’s eligibility requirements and would remain in this year’s competition.
Israel has rejected accusations of genocide since launching its operation targeting Hamas in Gaza after the militant group made its deadly incursion into southern Israel in October 2023, killing 1,200 people and taking 250 others hostage. The enclave’s authorities say Israel’s response has left nearly 70,000 Palestinians dead.
In December 2025, Swiss singer Nemo announced that he is returning his 2024 Eurovision Song Contest trophy in protest over Israel’s continued participation in the competition.
During the competitions in Malmö, Sweden, in 2024 and Basel, Switzerland, in 2025, large anti-Israel protests took place outside the venues, while the country’s participants were placed under heavy security protection.
Vote-rigging accusations
In last year’s contest, Israeli singer Yuval Raphael got second place and won the popular audience vote, leading multiple countries to raise concerns about outside interference in the voting process.
Following the pushback, Eurovision changed the rules, lowering the maximum number of votes each fan could cast from 20 to 10, and banned “disproportionate” promotion campaigns. However, the contest stressed that no rules were broken.
In the contest’s two-part voting process, the jury’s ranking is added to an audience score, with each viewer able to vote multiple times. Each vote costs a fee.
Israeli soft power
According to a new investigation by the New York Times, Raphael won the popular vote in several countries where the public is highly critical of Israel.
The Israeli government funded a concerted internet campaign, buying advertisements in multiple languages urging viewers to vote for their contestant up to the then-maximum 20 times, the NYT reported. En masse, it would have taken only a few thousand viewers dropping 20 votes each to secure second place, the newspaper said.
In 2024, West Jerusalem spent more than $800,000 on Eurovision-related advertising, with the bulk of the money coming from the Foreign Ministry, the NYT wrote, citing Israeli Government Advertising Agency data.
The Eurovision Song Contest, organized annually by the EBU, has long faced accusations of political bias, with critics saying voting patterns often reflect political alliances, cultural ties or historical relationships rather than musical merit.
The contest has faced accusations of double standards after banning Russia following the escalation of the Ukraine conflict in 2022. Moscow in turn accused organizers of favoring Western participants and promoting anti-Russian sentiment.
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