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Ukrainian President Zelenskyy expressed optimism about India's support for Ukraine in the conflict with Russia, despite ongoing concerns from the U.S. regarding India's energy trade with Moscow. While the U.S. considers tariffs to deter Russian oil purchases by India and China, Zelenskyy emphasized the importance of maintaining ties with New Delhi. Ukrainian President Volodymyr Zelenskyy on Tuesday (local time) said he believes India is "mostly" on Kyiv's side in the war with Russia, even as th ...Read More >
(Bloomberg) -- Oil fell as traders looked past US efforts to force India to quit buying Russian crude, and broader markets carried a risk-off tone. Global benchmark Brent dropped below $68 a barrel, while West Texas Intermediate was near $64. White House trade adviser Peter Navarro stepped up the pressure on New Delhi to halt purchases of Russian energy after Washington doubled a levy on imports from the country to 50%. Calling Indians "arrogant," he cast the conflict in Ukraine as "Modi's war, ...Read More >
Barclays estimates that the new 25% US tariffs, along with penalties on Russian imports, could reduce India's GDP growth by 30 basis points this fiscal year. Despite the higher duties, India's domestic demand-driven economy is unlikely to be significantly affected. New Delhi, The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven ...Read More >
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