US Treasury Secretary Scott Bessent indicated a potential pathway to remove tariffs imposed on India for purchasing Russian oil, citing a significant decrease in such purchases. He also criticized Europe's approach and accused India of profiting from discounted Russian oil.
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
Iranian state media reports that Ayatollah Ali Khamenei's son, Mojtaba Ali Khamenei, has been appointed as Iran's new Supreme Leader by the Assembly of Experts, a move criticised by US President Donald Trump.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
Foreign investors pulled out Rs 21,000 crore (around $2.3 billion) from Indian equities over the last four trading sessions amid deteriorating global risk sentiment triggered by the West Asia crisis.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
Amid rising tensions, Israel's Defence Minister has issued a stark warning that any leader succeeding Iran's Supreme Leader Ali Khamenei will be considered a target, as reports suggest his son Mojtaba may be next in line.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
Investors with a 6 to 12 month horizon may consider them. They should align their holding period with the fund's maturity profile and prefer schemes with a lower expense ratio.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
Opposition members in Lok Sabha have submitted a notice to move a resolution seeking the removal of Speaker Om Birla, citing concerns over impartiality and the disallowing of opposition voices.
Union Minister Kiren Rijiju criticizes the behavior of opposition MPs in the Lok Sabha, alleging disruptive conduct and disrespect towards the Prime Minister and the House's dignity.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
The Lok Sabha is set to debate a motion seeking the removal of Speaker Om Birla, a rare event where he will be seated among members as the House considers allegations of partisan conduct.
'The entire US ecosystem built over decades at the bases in the Gulf region, especially the UAE, costing trillions of dollars have been decimated, dealing a mortal blow to the US Central Command's war capability,' points out Ambassador M K Bhadrakumar.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
Rijiju, however, did not specify when and who will give notice for privilege motion against Gandhi. It is believed that someone from treasury benches in the Lok Sabha will do so.
BJP's women MPs have requested Lok Sabha Speaker Om Birla to take strict action against opposition MPs for disruptive behavior in Parliament, including protests that prevented Prime Minister Modi from addressing the House.
'Even if it is defeated and the Speaker remains, the Opposition parties that have lost faith in his impartiality will continue to have that feeling.' 'If the Speaker reflects on this and tries to be more neutral, more impartial, more objective in his conduct -- then one can say the resolution had a salutary effect. That would be the best outcome.'
US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
The 'Toshkhana' (treasury) of the Banke Bihari temple in Mathura, locked since 1971, was opened for inspection under the supervision of a Supreme Court-appointed committee. The inventory included copper coins, stones, silver and golden sticks.
The Lok Sabha Secretariat defends Speaker Om Birla's concerns regarding Prime Minister Narendra Modi's safety amidst opposition protests and disruptions in the House.
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
Rahul Gandhi said that had an INDIA Bloc government negotiated the trade agreement with the US, it would have told US President Donald Trump that he should treat India as an equal.
The rupee witnessed its worst single-day decline in around two months since November 21, 2025, due to demand for dollars among importers, said dealers. The maturing short positions in the non-deliverable forwards market further weighed on the local currency.
Opposition members in the Bihar legislative council were suspended and evicted after demanding an apology from Chief Minister Nitish Kumar for allegedly using foul language against their leader Rabri Devi, leading to a day of disruption and accusations from both sides.
The Speaker thanked Modi for acceding to his request and avoiding unpleasant scenes in the Lok Sabha by not coming to the House on Wednesday.
The finance minister said that consolidation of state-owned banks could proceed at any time without waiting for the recommendations of the proposed high-level committee on banking.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
The prime minister is now expected to speak on Thursday in the Rajya Sabha, where the debate on the Motion of Thanks on the President's Address has taken place without any disruption.
'The prime minister didn't come to Parliament.' 'But the BJP MP is charging that you wanted to assault the prime minister.' 'Only a person who has the intellect and ideology of the BJP can come up with such bizarre charges.'
Congress leader Rahul Gandhi alleges he was prevented from quoting from former army chief MM Naravane's book in Parliament, claiming it criticizes PM Modi and Defence Minister Rajnath Singh's handling of the 2020 conflict with China.
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