Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. NATO’s 100% Sanctions Warning to India, China & Brazil NATO Secretary General Mark Rutte, with backing from U.S. President Donald Trump, issued a stark ultimatum: any country still trading oil and gas with Russia will face “100% secondary sanctions.” Targeting China, India, and Brazil directly, Rutte urged their leaders to pressure Putin into serious peace talks within 50 days—echoing Trump’s threat of “biting” trade penalties if no progress is made. For India, which has ramped up imports of discounted Russian oil since the Ukraine war began, the message signals growing Western impatience and raises the economic cost of neutrality. 2. Vedanta Faces Fire from Short Seller Viceroy Viceroy Research has reignited scrutiny on Vedanta Ltd, accusing its promoters of secretly holding a 1.91% stake via a trust-controlled entity, PTC Cables Pvt Ltd. The report claims this vehicle was used to funnel ₹1,500 crore in dividends to promoter-linked entities. Vedanta dismissed the allegations as “baseless,” stating full regulatory compliance. Yet public records show links to the Agarwal family and longtime associates. While JP Morgan backed Vedanta with an Overweight rating, the shadow of opaque trust structures and governance concerns continues to hover. 3. Tesla Finally Enters India—With a Luxury SUV, Not Scale Tesla has launched its long-awaited India operations with a flagship showroom in Mumbai’s BKC and the Model Y SUV priced between ₹61–68 lakh. While not aimed at mass adoption, Tesla’s appeal lies in its battery range, tech branding, and cargo space. However, its full self-driving features remain off-limits due to legal and regulatory barriers. India recently eased EV import duties for companies promising local manufacturing within three years, but Elon Musk skipped a planned visit and hasn’t committed to building in India yet. For now, Tesla rides on novelty rather than numbers. 4. Nvidia’s China Chip Move Raises Eyebrows in Washington Nvidia is seeking U.S. approval to resume sales of its H20 AI chips to China—part of a broader deal involving rare earth shipments to U.S. firms. Commerce Secretary Howard Lutnick confirmed the chip sale is linked to this “magnet” trade agreement. While the H20 chips are legally exportable, they remain powerful due to Nvidia’s software ecosystem. Lawmakers, however, are alarmed. Bipartisan critics argue the move undermines national security and could accelerate China’s AI ambitions, especially for companies like DeepSeek. With China generating $17B in revenue for Nvidia last year, CEO Jensen Huang’s balancing act could carry geopolitical consequences. 5. Trump Says US-India Trade Deal “Within Reach”—But Dairy Is a Dealbreaker Former President Donald Trump signaled progress on a long-pending trade pact with India, declaring, “We’re going to have access into India.” He cited a finalized deal with Indonesia as precedent, where U.S. exports face zero tariffs. But talks with India remain stuck—particularly over dairy imports. India has drawn a firm line, refusing U.S. dairy unless it’s certified free of animal byproducts, protecting its cultural norms and small farmers. With bilateral trade hovering around $200 billion and a $500 billion target by 2030, both nations are engaged in a complex tariff tug-of-war. Learn more about your ad choices. Visit megaphone.fm/adchoices