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.
Bessent indicated that the U.S. is evaluating the status of Iranian oil as the current campaign progresses.
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 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.
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 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 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.
United States President Donald Trump on Friday signalled the US intention of going all out in its campaign against Iran's Islamic regime, warning Iran to watch out for what would happen today and saying that the US was winning the conflict despite what reports claimed.
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.
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.
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.
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.
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."
The United States Trade Representative (USTR) office on Wednesday launched a sweeping investigation into manufacturing and industrial practices in 16 economies, including India, citing concerns over what it calls 'structural excess capacity' that could distort global trade. Announcing the move on a White House press call, Jamieson Greer said the probe would be conducted under Section 301 of the Trade Act of 1974, one of Washington, DC's most powerful trade enforcement tools.
'This will split the Marathi and Shiv Sena vote.' 'The BJP has conducted 3 surveys indicating they shall secure 109 seats in the BMC.' 'They do not wish for the Shinde Sena to demonstrate excessive strength in the BMC.' 'If the Thackerays secure 60-70 seats, that will affect Shinde's seats.'
The call came before Iran's new supreme leader Mojtaba Khamenei vowed vengeance and urged citizens to continue their fight against the attacks by US and Israel.
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 has revoked the suspension of eight opposition MPs after assurances of maintaining order and decorum in the House. The decision follows a period of disruption and debate over parliamentary conduct.
Gold has emerged as the most stable asset during episodes of geopolitical stress, and crude oil has been more sensitive than others when it comes to regional conflicts and sanctions, according to a report in the Reserve Bank of India's (RBI's) monthly bulletin. Silver and the United States Treasury have showed moderate reactions.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
'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.
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.
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.
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 Trump administration has sanctioned entities and individuals from India involved in sales of Iran's petroleum and petroleum products, saying the funds from this trade support Tehran's regional terrorist proxies and procure weapons systems that are a direct threat to the US.
Texas Governor Greg Abbott has directed state agencies and public universities to suspend new H-1B visa petitions through May 2027, a move likely to affect Indian professionals. The order comes amid ongoing debate over skilled immigration and potential impacts on academic research and innovation.
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.
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.
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 US Department of the Treasury on Wednesday imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine.
Gehlot had on Wednesday refused to deliver the address to the Karnataka legislature, leading to a stalemate over the fate of the customary speech that outlines the government's policies.
'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.'
The Indian nationals sanctioned include Varun Pula, who owns Marshall Islands-based Bertha Shipping Inc., which owns and operates Comoros-flagged vessel PAMIR.
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.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
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.
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."
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.
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.
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