'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
'Modi's a great leader... But I don't understand why he's getting into bed with Putin and Xi Jinping...'
Russian President Vladimir Putin is expected to visit India around December 5 to hold annual summit talks with Prime Minister Narendra Modi to further solidify bilateral strategic ties.
Microsoft Corp has restored all services -- including email access -- to Russian oil giant Rosneft-backed Nayara Energy, just before a scheduled hearing in the Delhi high court over the service suspension.
Prime Minister Narendra Modi conveyed to Ukrainian President Volodymyr Zelenskyy that India remains committed to making every possible contribution for an early and peaceful solution to the conflict. Zelenskyy sought India's support in limiting Russian energy exports.
Trump said California has been particularly "hard hit" because of this, blaming democrat Gavin Newsom, the Governor of California, for this loss, calling him "weak and incompetent."
He added that India sells to the US, its biggest "client", "massive" amounts of goods, "but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."
After the war erupted between Russia and Ukraine, the US and Western nations imposed sanctions on Moscow. However, India has continued to purchase Russian oil.
India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
Even as Russia and West Asia have been slugging it out for market share in India to sell their crude oil, the US is quietly making its moves on the sidelines. The US has doubled its share of the Indian crude market in the past few months, according to industry sources and ship-tracking data. Some of the increase in America's market share may have come at the expense of Russia, India's biggest crude oil supplier, said industry sources.
The Trump administration has told the US Supreme Court that it imposed tariffs against India for purchasing Russian energy products as part of its strategy to address the war in Ukraine.
'Pakistan has found itself in a favourable position after Operation Sindoor by appreciating the mediation as claimed by Trump and recommending him for the Nobel Peace Prize.'
'Trump is not shy when he is frustrated with countries'
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this, savings from importing cheap Russian oil were significant enough to help Indian refiners tide over frozen petrol and diesel pump prices.
Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are "baseless and mischievous".
Russian oil giant PJSC Rosneft Oil Company is in early talks with Reliance Industries for sale of its 49.13 per cent stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for acquisition of Nayara, which will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No.1 oil refiner as well as give a meaningful presence in the fuel marketing space.
Stressing that wars are "very bad", Trump said that he seems to have "an ability to end them, to get people together" for which he uses the "power of the United States".
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.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
India-US relations, like Rome, were not built in a day, nor can they be demolished in a day.
All said and done, when the new global order emerges, India can only remain with the democracies, asserts Ambassador T P Sreenivasan.
United States President Donald Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi 'very substantially' over the next 24 hours because it is buying Russian oil.
Taking to social media platform X, Dmitriev said, "Russia confirms Putin-Trump summit may happen next week and summit preparations are ongoing. This can be a historic meeting. Dialogue will prevail."
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Among Sensex firms, Eternal, Infosys, Asian Paints, HDFC Bank, Bajaj Finserv and Titan were the major gainers. However, Tata Steel, Tech Mahindra, Adani Ports and Bharat Electronics were among the laggards.
'Scuttling 25 years of momentum with the only country that can serve as a counterweight to Chinese dominance in Asia would be a strategic disaster.'
Trump's new rules for how countries should treat him have led to the current breakdown in India-US relations, explains Ambassador T P Sreenivasan.
Oil prices rose following Biden's suggestion that United States and Israeli officials were considering a possible Israeli strike on Iranian oil facilities, as reported by the Washington Post.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
'No respite from economic pain is worth the loss of dignity and self-respect,' asserts former foreign secretary Shyam Saran.
'The biggest point of contention is market access for US agricultural and dairy products.'
India and Russia always stood "shoulder-to-shoulder" even in the most difficult situations, Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday, against the backdrop of possibly the worst phase in New Delhi's ties with the US in over two decades.
The collective West has always opposed strong leaders and economic development in India, asserts Colonel Anil A Athale (retd).
Indian billionaire Gautam Adani-led group's Haifa port in Israel was unharmed by the Iranian ballistic missile attack, with cargo operations progressing unhampered, sources said. Late on Saturday night, Iran targeted Israel's Haifa port and a nearby oil refinery in response to Tel Avi's attack on Iranian nuclear and other targets earlier this week.
The latest flashpoint in West Asia has derailed India's preliminary plans to resume crude oil imports from Iran, officials said. In January, officials of the Ministry of Petroleum and Natural Gas had told Business Standard that the government had been studying proposals for the same, given that India was trying to expand sources of imports. "We are always monitoring the situation when it comes to crude flows.
Oscar Piastri won the Dutch Grand Prix to take a mighty 34 point lead in the Formula One championship on Sunday as McLaren teammate and title rival Lando Norris saw his hopes go up in smoke.
"We will be guided by our national interest," he said.
Amid trade tensions between Delhi and Washington, the NYT article gives an account of how relations between Trump and Modi "unraveled" after Trump's repeated claims of solving the four-day conflict in May between India and Pakistan, an assertion denied by India.
'Xi is an individual led by a harder calculus and would scoff at melting over gestures.' 'That we did not know this was our failure,' asserts Aakar Patel.
