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.
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.
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.
The Indian and Chinese militaries held a fresh round of high-level military talks focusing on maintaining peace and security along the Line of Actual Control (LAC) in eastern Ladakh.
'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.
Ukrainian drones attacked the Kirishi oil refinery in Russia's northwest, one of the country's largest, sparking a fire when debris fell from a shot-down drone, Russian officials said on Sunday, France 24 reported.
'Trump is not shy when he is frustrated with countries'
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
Kremlin spokesman Dmitry Peskov said the two leaders had a tete-a-tete in the car for about an hour.
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.
Russian chess Grandmaster Boris Spassky, who took French nationality in 1978, was the 10th World chess champion, holding the title from 1969-1972, when he lost it to American Bobby Fischer in Reykjavik in a contest later dubbed as the "Match of the Century".
Prime Minister Narendra Modi was offered a lift by Russian President Vladimir Putin in his AURUS limousine to reach the venue of their bilateral talks on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin on Monday.
"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."
Medvedev in Shanghai semis as Rinderknech joins cousin Vacherot in last four
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.
Russia has a "special mechanism" to confront any challenge arising out of the US slapping punitive measures against India for its procurement of Russian crude oil, Russian charge d'affaires Roman Babushkin said on Wednesday.
The White House trade advisor's remarks came on a day US President Donald Trump announced that India and the US are continuing negotiations to address the trade barriers.
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 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.
'India is cosying up to Xi Jinping. They don't need the Russian oil. It's a refining profiteering scheme.'
US Secretary of State Marco Rubio claims President Donald Trump was instrumental in bringing about the cessation of hostilities between India and Pakistan, a claim India has consistently denied.
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."
United States President Donald Trump on Wednesday announced his upcoming diplomatic trip to Malaysia, South Korea, and Japan, highlighting a significant meeting with Chinese President Xi Jinping in South Korea.
Russian Foreign Minister Sergei Lavrov on Thursday said the US threats of tariffs against India and China are failing and there is a growing understanding in Washington of the futility of talking in such language with two ancient civilisations.
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.
As Russia continues to escalate its strikes on Ukraine, United States President Donald Trump on Sunday (local time) said that he has plans to speak with his Russian counterpart Vladimir Putin in the coming days, as several European leaders are expected to visit the United States for what he described as 'very interesting discussions' aimed at resolving the ongoing Russia-Ukraine conflict.
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.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
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.
External Affairs Minister S Jaishankar has called on Brazil, Russia, India, China, South Africa (BRICS) to defend the multilateral trading system amid increasing protectionism and tariff volatility during a meeting of the bloc's foreign ministers in New York on the sidelines of the United Nations General Assembly session.
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.
She clocked a championships record time of 3 minutes 16.81 seconds to win the 1500m T54 gold after earlier claiming the women's 5000m T54 and 800m T53 crowns.
HAL executives said deliveries of the Tejas Mk1A to the IAF would begin within this year, but only after the successful completion of the weapons-firing trials currently underway.
During a visit to the UK, former US President Donald Trump reiterated his claim of intervening to resolve a conflict between India and Pakistan, linking it to trade negotiations. He also discussed tariffs on India for buying Russian oil and the Russia-Ukraine conflict.
External Affairs Minister S Jaishankar criticizes Pakistan's attempts to protect a terror group at the UN Security Council, highlighting the need for urgent reforms within the global body.
India has confirmed that 12 Indian nationals have died while serving in the Russian military during the ongoing conflict in Ukraine. Another 16 Indians, who were serving in the Russian armed forces, are listed as missing by Russia. The Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said a total of 126 Indians were serving with the Russian military and 96 of them have so far been discharged.
Trump also said he is "very disappointed" that India would be buying "so much oil" from Russia.
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.
Check out these images from the Shanghai Cooperation Organisation summit in Tianjin, China, on Monday morning featuring Prime Minister Narendra Modi, Chinese President Xi Jinping and Russian President Vladimir Putin, taking bon homie to a new level.
'A deal will only be possible if India stops buying Russian oil -- but even then, New Delhi must not compromise its core red lines.'
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