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.
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
Donald Trump posted a photo on Truth Social listing himself as 'Acting President of Venezuela,' along with his US presidential designations. This follows recent US actions against Venezuela and claims regarding control over Venezuelan oil revenue.
India responds to US President Trump's claim that PM Modi assured him of halting Russian oil imports, stating it is diversifying energy sources to meet market conditions and safeguard consumer interests.
The threat of wars hovers over the negotiations in Oman, but the good part is that Trump called the talks to be 'very good' and Iran's President Masoud Pezeshkian responded that they 'constitute a step forward', points out Ambassador M K Bhadrakumar.
The US said India will lower tariffs on a "vast array" of American industrial and agricultural goods, such as "fruits, vegetables", to zero per cent under the trade deal announced by President Donald Trump.
The government has no say in where the country's refiners source oil from because these are commercial transactions.
India's purchase of Russian oil has risen to 2 million barrels per day in August, as refiners continue to prioritise economic considerations in their sourcing decisions. As much as 38 per cent out of an estimated 5.2 million barrels per day of crude oil imported in the first half of August came from Russia, according to global real-time data and analytics provider Kpler.
The waivers mean that financial institutions in the countries do not risk being cut off from the US financial system.
Using an expletive in his post on X, Navarro said, "Fact: India didn't buy Russian oil in large quantities before Russia invaded Ukraine. It's blood money and people are dying."
Trump's post on Truth Social comes a day after the US asked G7 countries to impose tariffs on countries purchasing oil from Russia.
The US Coast Guard seized a Russian oil tanker, the Marinera, in the North Atlantic. The crew includes three Indian citizens. Moscow has protested the seizure, calling it a violation of international maritime law and demanding humane treatment of the crew.
Former Indian envoys to Venezuela R Viswanathan and Yashvardhan Kumar Sinha said the action was anticipated and even 'unsurprising' in nature, claiming that the US has always worked against Maduro's regime.
External Affairs Minister S Jaishankar defends India's purchase of Russian oil, stating it is not the largest purchaser and that the US had previously supported such actions to stabilize energy markets. He also addresses concerns about tariffs and trade relations with the US.
A US official has stated that India's continued purchase of Russian oil is a point of contention in the relationship between the two countries, as it helps fund Russia's war efforts in Ukraine.
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.
Russian President Vladimir Putin's visit to India this week aims to secure energy supplies, stabilise defence deliveries and ensure bilateral trade continues smoothly despite strong Western sanctions, GTRI said on Tuesday.
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
India's annual oil import bill could rise by $9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022.
The US has extended waivers that exempt nine countries, including India and China, from fully complying with American sanctions targeting Iran's oil exports, citing their significant reduction in oil import from Tehran.
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 Secretary of States Hillary Clinton on Monday announced Obama administration's decision to exempt India and six other countries from US economic sanctions after they significantly reduced their imports of Iranian oil.
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.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
'No, India and China were not about to go to all-out war over a few rocks of Galwan.' 'The full picture of what went on at the highest level between two heads of State will not be known for a very, very long time and rightly so,' points out Colonel Anil A Athale, former head of the history division, ministry of defence.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
He added that current measures, including an oil quarantine and large naval deployments, are aimed at pressuring the Venezuelan regime.
Years of repression and disappearances have taught Venezuelans, the hard way, not to voice either their anger or their joy, observes Radha Roy Biswas who spent her formative years in Venezuela.
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.
India has cautioned against 'double standards' regarding its energy procurement from Russia, asserting that it is based on national interests and market dynamics, following a threat of secondary sanctions from NATO Secretary General Mark Rutte.
Russian President Vladimir Putin will make a two-day visit to India from December 4 to hold annual summit talks with Prime Minister Narendra Modi that is expected to produce a plethora of significant outcomes, including in the defence sphere, to further solidify the bilateral strategic ties.
President of the United States Donald Trump on Saturday confirmed that the US had carried out a large strike against Venezuela during which the incumbent President Nicolas Maduro and his wife were captured and taken out of the country.
Russia and China on Saturday condemned the United States airstrikes on Venezuela and the capture of its president, Nicolas Maduro and his wife.
India's exports to the US contracted 8.6 per cent to $6.3 billion in October, while imports rose 13.9 per cent to $4.5 billion leading to a trade surplus of $1.8 billion during the month.
The United States' efforts to isolate Iran for its alleged clandestine development of a nuclear weapons capability will figure in the strategic talks between Washington and New Delhi this week, but whether India will be issued a waiver from sanctions against those nations that do not dramatically curtail oil imports from Iran will not be a part of the discussions, a senior US official has indicated.
'Incidentally, Prime Minister (Modi) and President Trump have also spoken on the phone on eight occasions during 2025, covering different aspects of our wide-ranging partnership'
From the Sensex firms, Infosys climbed 3.86 per cent. HCL Tech, Tata Consultancy Services, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra were also among the gainers. However, Eternal, UltraTech Cement, Bharti Airtel and Adani Ports were among the laggards.
Putin argued that European countries are putting forward demands related to the conflict that Russia cannot accept. He further accused Europe of obstructing initiatives by the United States and President Donald Trump to pursue a negotiated settlement.
US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhi's continued buying of Russian oil.
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