Democratic Senator Jeanne Shaheen's comments came amid a major downturn between New Delhi and Washington after US President Donald Trump doubled tariffs on Indian goods to a whopping 50 percent, including a 25 percent additional duties for India's purchase of Russian crude oil.
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Gor also announced that India will be a member of the Pax Silica alliance.
An $1 per barrel change in crude price impacts the net import bill by Rs 3,513 crore.
India offset the decline in exports to traditional destinations by sharply ramping up shipments to Jordan (18,086 per cent), Hong Kong (17,006 per cent), Spain (13,436 per cent), the Philippines (2,235 per cent), and Namibia (1,068 per cent) in H1FY26.
External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio discussed cooperation in trade, critical minerals, nuclear energy, and defence, reaffirming commitment to a free and open Indo-Pacific.
India, the world's third largest oil consuming and importing nation, spent 112.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022. "According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports," it said.
The taxation of payments by Indian companies for importing defence material and oil and gas equipment from various countries like Russia, Ireland, Greece and Georgia will now become easier following an Income Tax Appellate Tribunal order.
Representatives Deborah Ross of North Carolina, Marc Veasey of Texas and Raja Krishnamoorthi of Illinois introduced the resolution on Friday in the House of Representatives to terminate Trump's national emergency authorising tariffs of up to 50 per cent on imports from India, helping to restore Congress' constitutional authority over trade.
'Whatever is necessary for life and is not made in your country, we will import it from outside.'
US President Donald Trump announced a deal with Pakistan to develop its oil reserves, suggesting Pakistan might sell oil to India in the future.
China has reacted positively to Russian President Vladimir Putin's visit to India, emphasizing the importance of trilateral ties between China, Russia, and India for regional and global peace and stability.
A senior Russian diplomat has called the US pressure on India for its procurement of Russian crude oil "unjustified," expressing confidence in continued energy cooperation between India and Russia despite external pressures.
The rupee plunged 26 paise to an all-time low of 90.75 against the US dollar in intra-day trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
On Friday, during the weekly media briefing, MEA spokesperson Randhir Jaiswal, when asked about media reports that some Indian oil companies have stopped taking oil from Russia, had said India has made clear its approach on the issue.
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The United States has imposed sanctions on at least half a dozen Indian companies accused of trading in Iranian petroleum and petrochemicals as part of broader action targeting 20 entities worldwide.
As the rupee has been on a downward slide and crossed 90 a dollar, consumer electronics firms are looking to raise prices of products ranging from air conditioners (ACs) to television panels up to 10 per cent.
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
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The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
Domestic fuel sales at 11.39 million tons in February were 0.2 per cent lower than 11.41 million tons of petroleum products consumption in the same month a year ago.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
'We've rectified that and we've got a good series against a strong team getting into the World Cup.'
The rupee breached 90-levels against the greenback for the first time on Wednesday, falling 6 paise to 90.02 in early trade, as banks kept buying US dollars at higher levels and FII outflows continued.
On the table are additional batches of S-400 surface-to-air missile systems from Russia, which India used with immense success during Operation Sindoor. India could buy at least two squadrons of Su-57 fighter jets plus joint production of S-500 air defence systems.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
Vellore-born NZ spinner Adithya Ashok keen to put India knowledge to test in ODIs
The first phase of the proposed India-US bilateral trade agreement (BTA) is 'nearing closure' and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
Russian President Vladimir Putin arrived in New Delhi for a two-day visit focused on strengthening ties with India, including defense cooperation and trade, amidst a changing geopolitical landscape.
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
Lavrov, who addressed the UN General Assembly shortly before External Affairs Minister S Jaishankar's speech at the high-level General Debate, said India and Russia share a "particularly privileged strategic partnership".
Maduro raised questions over the legality of his arrest during his first appearance before a US federal court in New York, claiming he was detained at his residence in Caracas, Venezuela, CNN reported.
However, copious oil supplies amid growing global output and slowing Chinese oil consumption will put India in a better bargaining position with Gulf suppliers.
Amid escalating India-US trade tensions, Nita Mukesh Ambani Cultural Centre -- the tony cultural event outfit run by billionaire Mukesh Ambani's wife -- has postponed next week's theatrical event in New York, citing "unforeseen circumstances".
The rupee plunged 38 paise to close at an all-time low of 90.32 against the US dollar on Thursday amid uncertainty over the India-US trade deal. Forex traders said the rupee is expected to trade with a negative bias as the delay in the trade deal between India and the US may continue to dent investor confidence.
Prime Minister Narendra Modi will host Russian President Vladimir Putin for a private dinner and summit, focusing on defence, trade, and geopolitical issues, including the Ukraine conflict and the impact of US sanctions.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
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