RUSSIAN OIL PURCHASES
India and US trade deal still has a few stubborn cards to play: Fitch unit
Negotiations between India and the US have encountered significant sticking points affecting market access and agriculture. US Trade Representative Jamieson Greer noted the identification of all key issues during talks. Finance Minister Nirmala Sitharaman mentioned that negotiations have reached a plateau with limited opportunities for further concessions. India is advocating for more preferential access for its exports. Meanwhile, Washington seeks increased access to the Indian market, especially in agricultural sectors.
India-bound sunflower oil cargoes face cancellation, delays as war disrupts Russian shipments
The Russia-Ukraine conflict has also delayed about 60,000 tons of sunflower oil bound for India, prompting Indian buyers to step up palm oil purchases ahead of the festival season, trade sources said.
Ambani's Reliance drives India’s Venezuela oil imports to seven-year high
India is expecting to significantly increase its imports of Venezuelan oil this month due to appealing discounts. Venezuelan crude deliveries may exceed 465,000 barrels a day, marking the highest levels since December 2019. Reliance Industries is particularly benefiting from these low-cost supplies as Russian shipments decline amidst rising costs. While Venezuelan oil is more affordable, it presents processing challenges for some refineries.
Four horsemen of economic trouble? RBI governor flags the risks spooking the world
The RBI raised the repo rate 25 bps to 5.50%, its first hike in nearly four years, and shifted its stance to calibrated tightening. Governor Sanjay Malhotra flagged four global risks: West Asia tensions and volatile oil prices, tariff uncertainty, elevated bond yields and stretched AI stock valuations. He said these risks are clouding global sentiment despite resilient growth.
Explainer: Why have India-US trade talks stalled again and what's next?
Amid rising tariffs and geopolitical tensions, trade negotiations between India and the United States have reached an impasse. The US has voiced concerns over India's ongoing acquisition of Russian oil, which could trigger higher tariffs. India aims to safeguard its vital agricultural sectors during talks while advocating for enhanced export conditions. Future discussions, particularly with Secretary of State Marco Rubio's upcoming visit, may provide an opportunity for resolution.
Sitharaman sees a ‘plateau’, but India-US trade deal may not be at a dead end yet: GTRI
As India and the US engage in talks for a bilateral trade deal, uncertainties loom over tariff treatments. Finance Minister Nirmala Sitharaman mentioned that the scope for concessions is limited, indicating a plateau. Ajay Srivastava from GTRI cautioned against making unilateral concessions, stressing that additional tariffs might complicate trade relations. An effectively designed interim agreement is crucial for ensuring substantial benefits for India.
- Go To Page 1
India, China better positioned for Hormuz disruptions; Russian oil purchases likely to continue: Former Singapore Foreign Minister
India and China are better equipped to manage energy disruptions due to diverse sourcing and stockpiling. George Yeo emphasised India's ongoing purchase of Russian oil despite potential US pressure. He recommended India utilise open sources from China to develop its own technology capabilities. Yeo urged a pragmatic approach to India-China economic relations focusing on mutual benefits. This strategy will help India enhance its global competitiveness while fostering national interests.
Sanctions, tariffs turn into policy instruments, sometimes weaponised: P K Mishra
P K Mishra highlighted the impact of geopolitical tensions on global markets and economic vulnerabilities. He mentioned that India is diversifying its energy imports to reduce vulnerabilities and ensure economic stability. The need for macroeconomic resilience through fiscal space and adequate foreign reserves was also emphasised. Mishra pointed out the importance of critical minerals for the future of advanced manufacturing and sustainability.
Mr Prez, use your discretion wisely
Narendra Modi and Donald Trump discussed trade, energy, and defense, focusing on Russian oil sanctions. India is concerned about the economic impact of potential tariffs on its energy purchases. Both countries must consider their strategic relationship amid differing national interests and economic realities.
PM Modi and Trump hold first telephonic talks since Russia sanctions law; discuss trade, defence
Prime Minister Narendra Modi and US President Donald Trump have agreed to maintain close engagement to advance the India-US Comprehensive Global Strategic Partnership, Modi said on X. The leaders reviewed cooperation in trade, defence, energy and critical technologies, while also discussing regional and international issues and efforts to advance global peace and security.
India's Russian crude imports fall to five-month low as refiners diversify supplies
India's crude oil landscape shifted in September as imports from Russia plummeted to their lowest since April, prompting refiners to seek alternatives. Despite this drop, overall crude imports surged, bolstered by robust refinery activity and rising fuel requirements. Increased supplies from Iraq and Saudi Arabia have effectively offset the reduction of Russian crude. This scenario underscores the flexibility of Indian refiners to navigate geopolitical uncertainties and evolving market demands.
From Hormuz to Saudi to US sanctions, world feels the oil heat
The war in West Asia has caused significant disruptions to global oil supplies and prices. Saudi Arabia faces challenges with pipeline closures, forcing alternative routes for exports. Meanwhile, India's oil imports have significantly increased in response to evolving market conditions. The potential of expanded sanctions further complicates India's energy security as it navigates foreign relations. A diplomatic solution between the US and Iran is essential to stabilize oil markets.
Foreign Secy Vikram Misri meets US Congressional delegation, discusses Russia Sanctions Bill and strategic ties
Foreign Secretary Vikram Misri recently met a bipartisan US Congressional delegation led by Representative Brian Mast. Discussions included the Sanctioning Russia and Iran Act and the trajectory of India-US relations. Misri previously held discussions focusing on critical technologies and energy security during the United Nations General Assembly. Cooperation topics featured in the meetings also encompassed semiconductors and civil nuclear initiatives.
Jaishankar-Lavrov meet: Annual summit; BRICS Parliamentary Forum on agenda
EAM S Jaishankar and Sergey Lavrov met in New York during the UN General Assembly's High-Level Week. They talked about Russian-Indian cooperation and various global developments including the Ukraine crisis. Jaishankar emphasized the ongoing efforts to strengthen strategic ties between India and Russia. Additionally, he had discussions with Iranian Foreign Minister Abbas Araghchi regarding the Gulf conflict.
Russian crude supplies enabled India to cushion against oil supply shocks caused by West Asian war: Deputy FM
Russia has significantly increased oil supply to India in response to disruptions from the conflict in West Asia. Indian imports of Russian crude oil nearly doubled following the outbreak of conflict, reaching 2.25 million barrels per day. The Indian government emphasizes the importance of multiple energy suppliers to maintain affordable energy supply for its population. India is raising concerns about tariffs imposed on Russian oil amid ongoing geopolitical issues.
Jaishankar meets Russia, Iran foreign ministers at UNGA days after Trump signs sanctions law
During the UN General Assembly, India's External Affairs Minister S. Jaishankar conferred with officials from Russia and Iran, highlighting vital areas like bilateral ties, BRICS collaboration, and the Gulf conflict. He reaffirmed India's focus on energy security in light of recent US sanctions. Furthermore, Jaishankar participated in discussions with the Gulf Cooperation Council to fortify partnerships, alongside co-chairing a dialogue centered on the ramifications of artificial intelligence on maritime security.
Foreign secretary Vikram Misri flags tariff move in talks with US undersecretary
India's Foreign Secretary Vikram Misri conducted meetings in New York regarding several bilateral issues. He raised concerns about the potential effect of Russia and Iran sanctions on India-US relations. Misri's discussions with US Undersecretary of State Allison Hooker focused on energy security and civil nuclear cooperation. India is awaiting the Trump administration's decision on tariffs for purchasing Russian oil.
India left more exposed to Trump's 100% oil threat as China gets tariff breather
India could find itself more exposed to US tariff pressure over Russian oil after Washington and Beijing extended their Busan trade truce until January 10, 2027, according to GTRI. The think tank's founder Ajay Srivastava argues that China's tariff breathing room leaves New Delhi facing greater risk from Trump's new powers to impose tariffs of up to 100% on major buyers of Russian energy.
US must pivot from tariffs to Quad partnership with India: Former US NSA John Bolton
John Bolton expressed concerns over the new Sanctioning Russia and Iran Act of 2026 legislation. He warned that expanded sanctions authority to President Trump could lead to geopolitical issues. Bolton advised the administration to prioritize strategic relations with India rather than imposing tariffs. He emphasized the importance of focusing on threats posed by China in these discussions.
Jaishankar flags India’s concerns over US sanctions law in talks with Rubio
S Jaishankar reiterated India's concerns regarding the Sanctioning Russia and Iran Act in discussions with Marco Rubio. This legislation poses a potential threat of 100% tariffs on Russian oil purchases, which India heavily relies on. The sanctions coincide with disruptions in global energy supplies due to conflicts in the region. Approximately 45% of India's crude imports were from Russia in August.
India’s Russian oil imports fall 16.5% in August as Middle East supplies rise
India’s Russian oil imports fell 16.5% month-on-month to about 2.1 million bpd in August, while purchases from Iraq rose sharply and Saudi Arabia increased supplies. The shift comes as Middle Eastern producers use storage and export terminals outside the Strait of Hormuz, while Indian refiners weigh future Russian purchases against potential US trade measures.
India’s oil buyers may cut Russia cargoes as US risk rises
Indian refiners may reduce Russian crude imports amid new US sanctions. This move comes as the US legislation allows tariffs on countries buying Russian oil. India has previously adjusted its Russian oil purchases based on US pressure. The nation seeks affordable energy for its large population. Future buying cycles will occur during this period of uncertainty.
India studying details of US tariffs on Russian oil buyers: Piyush Goyal
India is examining details of potential US tariffs on Russian oil buyers, Piyush Goyal says. Washington is increasing pressure on nations still purchasing Russian energy resources. A new US law allows tariffs up to 100% on Russian oil and gas importers. Major buyers like India and China face potential higher duties on their US exports. The legislation takes effect within thirty days, impacting global energy trade.
US' nips at Moscow may sour India ties
India voices strong opposition to potential US tariffs on Russian oil imports. This move could negatively impact India-US relations and global energy supplies. New Delhi emphasizes its commitment to ensuring energy security for its citizens. Discussions on this issue are expected during upcoming high-level diplomatic meetings. India will protect its trade and economic interests through necessary measures.
NCP (SP) asks Centre to spell out economic fallout of US tariff threat over Russian oil
The NCP (SP) seeks details on India's economic exposure to a new US law. This legislation authorizes significant tariffs on nations buying Russian energy resources. Party leader Mahesh Tapase warned of higher fuel costs for citizens. He questioned the government's preparedness for potential trade disruptions. The party demands transparency regarding exporter protection and alternative oil sources.
US tariffs on India: A timeline of duties, deals and reversals
India and United States trade saw tariff changes since April 2025. Tariffs were imposed and later rescinded due to geopolitical events. A trade deal framework was agreed upon between the two nations. The US Supreme Court struck down a reciprocal tariff system. Current tariffs include Section 301 and sectoral duties on Indian goods.
"Energy sourcing based on national interest": MEA on purchase of Russian oil
India's energy sourcing decisions prioritize national interest for its vast population. The nation continues to acquire energy from diversified global sources. New Delhi has conveyed its concerns regarding US sanctions legislation to Washington. India remains determined to protect its trade and economic interests. The government will collaborate with industry bodies on legislative implications.
New US sanctions bill on Russia puts Modi in a bind
India faces a difficult energy policy choice regarding Russian oil imports. Potential US tariffs threaten Indian exports and bilateral trade relations. Maintaining Russian oil purchases could increase domestic fuel prices before elections. New Delhi emphasizes ensuring energy security for its large population. This situation complicates ongoing trade talks with Washington.
India must not let energy security become a US trade ‘weapon’, warns GTRI
According to a warning from a US think tank, Indian goods could face tariffs as high as 100%. This move may compel India to significantly limit its imports of oil from Russia. The recent US legislation permits tariffs on principal buyers of Russian energy, highlighting India's growing reliance on Russian crude since 2022. The think tank recommends prioritizing energy security over achieving trade advantages.
Load More
