There were apprehensions that additional secondary tariffs would have hit India in case the US decided to enforce them.
Russian President Vladimir Putin, in his address to the Federal Assembly (Russia's bicameral parliament) on Sunday, stated that Moscow had developed a small-sized nuclear power unit that could be used in a cruise missile to extend its range practically indefinitely.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
India does not do trade agreements in a hurry or with a "gun to our head", Commerce and Industry Minister Piyush Goyal said on Friday. He said India is actively negotiating trade pacts with countries and regions, including the European Union (EU) and the US.
The Russians have termed Putin's visit to India, his first to this country since the outbreak of the Russia-Ukraine war, as 'Druzhba Dosti', which means 'friendship' in Russian and Hindi respectively.
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.
National Security Advisor Ajit Doval has travelled to Russia to hold crucial talks on bilateral energy and defence ties and to prepare ground for Russian President Vladimir Putin's visit to India later this year.
The enduring relationship between the two countries have survived the disintegration of the erstwhile USSR in 1991, the end of the Cold War and the regime change in both countries, points out Rup Narayan Das.
'The US is strongly placed to expand its crude supplies to India.'
When asked about Putin and North Korean leader Kim Jong Un with Chinese President Xi Jinping at China's military parade and whether he is considering slapping secondary sanctions on Moscow, Trump said, "Well, I've already done that with regard to India, and we're doing it with regard to other things."
The US House Foreign Affairs Committee Democrats stated that imposing tariffs on India will not deter Russian President Vladimir Putin or address Russia's invasion of Ukraine.
India has rejected White House Trade advisor Peter Navarro's comments on New Delhi for its procurement of Russian crude oil, calling them 'inaccurate and misleading'. The relations between New Delhi and Washington are on a downturn after President Donald Trump doubled tariffs on Indian goods.
NSA Ajit Doval has indicated that dates for Russian President Vladimir Putin's visit to India are being worked out during his meetings in Moscow. Discussions also covered bilateral energy and defence cooperation, amidst ongoing concerns over India's procurement of Russian crude oil.
Among Sensex firms, Hindustan Unilever dropped the most by 3.20 per cent. UltraTech Cement, Kotak Mahindra Bank, Adani Ports, Titan, HDFC Bank and Axis Bank were also among the laggards. However, Bharti Airtel, ICICI Bank, Bharat Electronics and Sun Pharma were among the gainers.
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
Senior Congress leader Shashi Tharoor says US tariffs are negatively impacting India, leading to job losses, and criticizes President Trump's diplomatic behavior.
Vance also hinted that the US may drop additional tariffs on countries if the US make a deal with Russia, and also apply more tariffs on the countries to bring this war to a close.
"So I think what happens is it's all bravado, because you think it feels good to fight with the biggest client in the world, but eventually your businesses are going to say you've got to stop this and go make a deal with America."
'Don't look at Russia only as a place to earn quickly and then leave.' 'Try to build experience in serious companies, skills and certifications that will serve you anywhere in the world.'
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.
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
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.
Former White House trade advisor Peter Navarro accuses India of being an 'oil money laundromat' for Russia, alleging that India's oil purchases are funding Putin's war in Ukraine. The accusations come amid existing trade tensions and tariffs imposed by the US.
'Reviewing terms such as war, invasion, acts of foreign enemies or hostilities, which often appear in industry exclusion lists, can help avoid surprises at the time of claim.'
'There are times when India should stand up without hesitation and voice its indignation over the US' pressure tactic. This is one such moment,' asserts Ambassador M K Bhadrakumar.
Russian President Vladimir Putin will travel to India in December, Kremlin foreign policy aide Yuri Ushakov said. Putin will meet Prime Minister Narendra Modi on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in China's Tianjin city to discuss the preparations for his visit to India.
The Ukrainian President's remarks come amid US President Donald Trump's criticism of India and China, labelling the countries as "primary funders" of the ongoing war in Ukraine.
Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States."
Navarro's remarks came after the public display of bonhomie by the three leaders on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin on Monday.
President Trump addresses questions about US imports from Russia and India's stance on purchasing Russian oil, hinting at potential tariffs.
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.
Saudi Arabia has ventured into mainstream cricket for the first time, announcing a strategic partnership with International League T20.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
'Geopolitically and diplomatically it's a very difficult situation for India.'
'We need to be very vigilant as we are passing through some fraught times.'
Ahead of trade talks between Indian and United States officials in Delhi, White House trade advisor Peter Navarro said India, which has the 'highest tariffs' of any major country, is 'coming to the table'.
Indian envoy Vinay Mohan Kwatra discussed fair, balanced and mutually beneficial trade ties with US lawmakers amid ongoing tariff tensions between New Delhi and Washington.
Putin further described the Ukraine conflict as a mere "pretext" by Western powers to take these broader punitive measures against countries maintaining strong economic ties with Russia.
Ukrainian President Volodymyr Zelenskyy has backed the imposition of tariffs on countries maintaining economic ties with Russia, saying it is the 'right idea' in the face of continued aggression by Moscow.
Prime Minister Narendra Modi on Saturday 'deeply' appreciated United States President Donald Trump's 'positive assessment' of the India-US partnership after the American leader hailed the 'special' relationship between the two nations -- remarks seen as an attempt to check the downturn in the ties.
