US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
Benchmark equity indices Sensex and Nifty extended their gains for the second straight session on Monday, driven by optimism over the India-US trade deal and robust buying in public sector banks, consumer durables, and realty stocks.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
Domestic equities surged on Tuesday, posting their best single-day gains in more than eight months after a long-awaited trade deal between India and the US. The deal, which lowered tariffs on Indian goods to 18 per cent from 50 per cent, significantly improved investor sentiment and lifted a key overhang for the market.
A bewildered world is at a loss to find bilateral and multilateral measures to stop President Trump from pursuing his vision of a world unabashedly dominated by the United States, points out T P Sreenivasan.
The India-US ties witnessed a major downturn after President Trump slapped a whopping 50 per cent tariff on Indian goods, including a 25 per cent punitive levy over Russian oil purchases.
Inflation data, trading activity of foreign investors and global trends would dictate sentiment in the stock market this week, according to analysts.
Whether Trump will actually press ahead with the oil sanctions remains unclear, since keeping Russian oil out of the world market risks high oil prices which could boomerang on the US economy and be damaging politically for Trump, points out Ambassador M K Bhadrakumar.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
The White House has claimed that India has begun 'scaling back' its oil purchases from Russia at the 'request' of President Donald Trump.
Reliance Industries Ltd, India's largest buyer of Russian oil and most impacted by the latest US sanctions, on Friday said it will comply with all applicable restrictions and will adjust its refinery operations to meet compliance requirements.
India and the US have entered a new phase in their relationship, marked by greater parity, point out Harsh V Pant and Vivek Mishra.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India has completely protected the interests of its agriculture and dairy sector in the India-US trade agreement.
The idea, Shah explains, was to keep the discipline of a shared start, without asking anyone to participate in a religious act that wasn't theirs. The anthem, he felt, offered a "common minimum" that didn't privilege one faith over another: stand together, start together, get to work.
US and India will promptly implement this framework and work towards finalising the interim agreement with a view to concluding a mutually beneficial bilateral trade agreement.
US President Donald Trump claimed India will stop buying oil from Russia, while also stating China will cut back substantially. He also discussed the conflict between India and Pakistan, reiterating his claim of helping settle the conflict.
Maamouls are classic Middle Eastern cookies that have a festive appeal even before you take a bite.
China has made serious inroads into Latin America, which the US may now be hinting is simply not ok: Stay in your lane, Xi! In simple terms, China will no longer have access to Venezuelan oil, points out Rajeev Srinivasan.
Clinical Italy trounce Nepal by 10 wickets to record maiden win in T20 World Cup
Benchmark indices Sensex and Nifty ended lower on Thursday, snapping a three-day rally, amid a weak trend in global stock markets.
Both countries commit to provide each other preferential market access in sectors of respective interest on a sustained basis
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
US President Donald Trump greeted India on its 77th Republic Day, highlighting the historic bond between the two democracies amid ongoing trade tensions.
A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
Divya Nair suggests five versatile ways to put your dosa batter to good use.
Stock market benchmark indices Sensex and Nifty surged in early trading session on Tuesday after India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from current 25 per cent.
Benchmark indices Sensex and Nifty ended marginally higher on Wednesday as a sharp decline in IT blue-chip stocks restricted the rally in the markets.
Italian cuisine is proof that great flavour doesn't need complicated techniques or hard-to-find ingredients.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
US President Donald Trump claims India has significantly reduced and nearly stopped purchasing oil from Russia, citing de-escalation efforts. This follows previous tensions over tariffs and India's energy sourcing.
Stock market benchmark indices Sensex and Nifty ended 2.5 per cent higher on Tuesday after India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent.
From the 30-Sensex firms, Larsen & Toubro, Tech Mahindra, Tata Consultancy Services, Reliance Industries, Tata Steel, and Trent were among the biggest laggards. On the other hand, Eternal, ICICI Bank, Bajaj Finance, and Bharat Electronics were the gainers.
Trump announced that India and the US agreed to a trade deal under which Washington will charge a reduced reciprocal tariff on Delhi, lowering it from 25 per cent to 18 per cent.
United States President Donald Trump on Wednesday claimed that India will significantly reduce Russian oil imports by year-end, citing Prime Minister Narendra Modi's assurance.
United States Senator Lindsey Graham on Sunday claimed that Indian Ambassador to the US Vinay Mohan Kwatra spoke to him last month about India buying less Russian oil and asked him to tell President Donald Trump to relieve the 25 per cent tariff.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances