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.
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.
Geithner had told President Barack Obama that he would leave his cabinet by this summer as his family has moved to New York.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
The Trump administration has announced a temporary authorisation for countries to purchase Russian oil stranded at sea, aiming to stabilise global energy markets amid rising oil prices and tensions with Iran.
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.
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.
Paulson has also taken a dig at China "for not being bold" despite the fact that Beijing is integrated into the global economy.
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.
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 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.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
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."
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.
He was previously Chief-of-Staff and Budget specialist.
Aiming to further expand the bilateral economic engagement, US Treasury Secretary Timothy Geithner would travel to New Delhi and Mumbai later this month for the third annual meet of the US-India Economic and Financial Partnership.
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.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
'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.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
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.
Parliamentary Affairs Minister Kiren Rijiju strongly defended Lok Sabha Speaker Om Birla against a no-confidence motion, accusing the Congress party of attacking constitutional institutions and undermining parliamentary democracy.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
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.
Glimpses of US President Donald Trump's arrival in Tokyo, Japan, for the second stop on his Asia tour, October 27, 2025.
'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.'
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.
President Donald Trump on Friday signed an executive order retroactively lowering tariffs on a range of agricultural imports, including beef, tomatoes, coffee and bananas, with the change taking effect from November 20, CNN reported.
Amid disruptions in the Lok Sabha, opposition parties are protesting the denial of speaking rights to the Leader of Opposition, Rahul Gandhi, during discussions on the President's address. The Congress party draws parallels to a similar incident in 2004 when then-Prime Minister Manmohan Singh was prevented from speaking.
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.
US President Donald Trump received a mixed reception of cheers and boos at the US Open final at Arthur Ashe Stadium in New York on Sunday.
US President Donald Trump has said that India should not be "dumping" rice into the United States market and he will "take care" of it, while stressing that tariffs will solve the "problem" easily.
Trump claimed that he "got a call from Prime Minister Modi saying, 'we're done'. I said, 'you're done with what?'" Trump said and claimed Modi replied: "We're not going to go to war."
United States Treasury Secretary Scott Bessent has warned that the secondary tariffs on India could go up if 'things don't go well' during talks between President Donald Trump and Russian President Vladimir Putin in Alaska on Friday.
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The US is "pretty close" to reaching a "fair trade deal" with India, President Donald Trump has said, adding that he will lower the tariffs imposed on Indian goods at "some point".
Describing the India-United States relationship as 'very complicated', US Treasury Secretary Scott Bessent on Wednesday hoped that 'at the end of the day, we will come together.'
Congress MP Priyanka Gandhi Vadra challenged Prime Minister Narendra Modi to a Lok Sabha debate on Jawaharlal Nehru's 'mistakes' to address criticisms and focus on current issues like unemployment and inflation.
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