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's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data.
Afghan Foreign Minister Amir Khan Muttaqi announced that Kabul will send diplomats to India as part of efforts to improve bilateral relations. He assured New Delhi that Afghan soil will not be used for activities detrimental to India's interests.
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.
'Geopolitically and diplomatically it's a very difficult situation for India.'
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."
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.
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.
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.
'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.'
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.
'Modi's a great leader... But I don't understand why he's getting into bed with Putin and Xi Jinping...'
United States President Donald Trump on Wednesday said Prime Minister Narendra Modi had assured him that India would stop purchasing oil from Russia, describing it as "a big step" in efforts to increase global pressure on Moscow.
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.
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.
His assertion came after Trump claimed that his "friend" PM Modi has assured him that India would stop purchasing oil from Russia, a move he described as a big step toward increasing pressure on Moscow over its invasion of Ukraine.
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".
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 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.
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.
Echoing United States President Donald Trump's stance on imposing economic sanctions against countries maintaining trade ties with Russia if Moscow doesn't put an end to the conflict in Ukraine, North Atlantic Treaty Organisaiton (NATO) Secretary General Mark Rutte on Tuesday (local time) urged India, China, and Brazil to reconsider their economic relations with Russia, warning of potential secondary sanctions, reported Reuters.
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.
Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
Trump's post on Truth Social comes a day after the US asked G7 countries to impose tariffs on countries purchasing oil from Russia.
'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.'
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.
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.
'We need to be very vigilant as we are passing through some fraught times.'
Plans for big bang reforms in the GST regime by Diwali, the Putin-Trump summit and S&P upgrading India's sovereign credit rating are likely to instil optimism in the domestic equity market in the week ahead, analysts said. Besides, trends in global markets and the trading activity of foreign investors would also impact domestic investors' sentiment.
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.
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."
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.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
The escalation of conflict in the West Asian region is expected to push already high logistics costs besides hurting trade in sectors such as oil, electronics and agriculture, according to exporters. They said that insurance costs for exports to the countries directly involved in the war could also go up, which will impact Indian exporters' working capital. Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India's trade with countries like Israel, Jordan, and Lebanon.
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.
On August 7, the US president announced doubling tariffs on Indian goods to 50 percent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement.
'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 is expected to visit India around December 5 to hold annual summit talks with Prime Minister Narendra Modi to further solidify bilateral strategic ties.
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
