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An Iran-bound crude shipment that was initially headed for India changed course mid-voyage and began moving towards China, sparking speculation that payment issues or sanctions-related hurdles may have forced the diversion. Now, the ministry of petroleum and natural gas stepped in to clarify that there are no payment problems calling such claims "factually incorrect." The reports of a possible fallout came after ship-tracking firm Kpler said that the Aframax tanker Ping Shun -- which had initia ...Read More >
Russian President Vladimir Putin reaffirmed Moscow's role as a steady energy supplier for India's growing economy. He highlighted expanding cooperation in nuclear power, trade routes like INSTC, and Russia's participation in 'Make in India'. Russia has reaffirmed its long-standing energy partnership with India, with President Vladimir Putin declaring that Moscow will remain a steady, uninterrupted supplier for the country's fast-growing economy. While adressing the joint press address with Prim ...Read More >
In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The U.S. and India are close to a possible trade deal that would reduce tariffs on Indian exports to about 15% to 16% from the current 50%, according to the Mint. In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The bilateral trade agreement could be announced when President D ...Read More >
President Trump stated he discussed trade and energy with Indian Prime Minister Modi, who assured him India would limit oil purchases from Russia. This comes as Trump pressures Moscow to end the Ukraine war, with India being a major buyer of Russian crude. United States President Donald Trump said he held talks with Prime Minister Narendra Modi on Tuesday, with their conversation focused largely on trade. "Let me extend our warmest wishes to the people of India. I just spoke to your Prime Mini ...Read More >
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Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Friday that India and Brazil have agreed to expand their partnership in oil exploration and production, with Indian upstream oil companies such as ONGC expected to participate in upcoming offshore projects in the Latin American country. New Delhi, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Friday that India and Brazil have agreed to expand their partnership in oil exploration and production, with Indian upstr ...Read More >
Oil markets are trying to make sense of claims from Donald Trump about whether India and China will continue to purchase Russian oil, offering the latest example of how the president is willing to intertwine energy, trade, and geopolitics. This past week has seen Trump repeatedly claim that India is soon set to buy "no oil" from Russia, which, earlier in the week, Indian officials declined to confirm. Trump was unbowed, saying Friday at the White House, "They've already de-escalated." Equally ...Read More >
Kedia Advisory - Crude oil yesterday settled lower by 1.68% at 5,145 as investors reacted to concerns over a potential supply surplus and renewed trade tensions between the U.S. and China. The International Energy Agency (IEA) forecasted that the global oil market could face a surplus of up to 4 million barrels per day in 2026, significantly higher than earlier estimates, amid rising output from OPEC+ and sluggish demand growth. The ongoing U.S.-China trade dispute, with both nations imposing ne ...Read More >
Russia's energy ties with India are in tune with New Delhi's national interests, Russian envoy Denis Alipov said on Thursday, asserting that overall bilateral trade relations are on an upswing. Alipov's remarks came hours after US President Donald Trump claimed that Prime Minister Narendra Modi assured him that New Delhi will stop procuring Russian crude oil. "This is a question for the Indian government (to answer)," the envoy told reporters when asked if India will continue to procure Russia ...Read More >
Russia's energy ties with India are in tune with New Delhi's national interests, Russian envoy Denis Alipov said on Thursday, asserting that overall bilateral trade relations are on an upswing. Alipov's remarks came hours after US President Donald Trump claimed that Prime Minister Narendra Modi assured him that New Delhi will stop procuring Russian crude oil. "This is a question for the Indian government (to answer)," the envoy told reporters when asked if India will continue to procure Russia ...Read More >
Amidst US criticism over Russian oil imports, India's Oil Minister Hardeep Puri defended the country's energy strategy, arguing that it stabilises global markets and prevents price surges. Puri refuted claims of undermining sanctions, highlighting adherence to international rules and legal transactions. Amid continuing criticism of India by Trump and his officials over oil purchases from Russia, Oil minister Hardeep Puri on September 1 came up with a strong rebuttal, countering US rhetoric with ...Read More >
WASHINGTON/NEW DELHI, Aug 27 (Reuters) - U.S. President Donald Trump's doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday, delivering a serious blow to ties between two powerful democracies that had in recent decades become strategic partners. A punitive 25% tariff, imposed due to India's purchases of Russian oil, was added to Trump's prior 25% tariff on many imports from the South Asian nation. It takes total duties as high as 50% for goods as var ...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 >
India defends its right to purchase from the cheapest source, while strengthening ties with Russia and China. Russia expects India to continue buying its oil, a senior official said, even as the South Asian nation faces higher US tariffs and harsh criticism from Trump administration officials for the trade. India's imports of Russian crude are likely to stay at current levels, Evgeny Griva, the deputy trade representative of Russia in India, told reporters in New Delhi on Wednesday. The remark ...Read More >
Indian negotiators had not expected to conclude a meaningful deal in time to meet Mr. Trump's revised deadline of Aug. 1. But they did expect to be treated as well as their neighbors, and to keep haggling with American officials until October or November, when Mr. Trump was invited to visit India as part of the Quad defense group, which brings together four big democracies -- India, the United States, Japan and Australia -- with a shared interest in standing up to China. Instead, they were fed ...Read More >
No decision has been taken as yet on stopping imports from Russia, the people said, asking not to be named due to the sensitivity of the matter. Both state-run and private refiners are allowed to buy from their preferred sources, and crude purchases remain a commercial decision made by them, several of the people said. Trump blasted India on Wednesday for continuing to purchase most of its military equipment and energy from Russia. The US leader imposed a surprise 25 per cent tariff on India an ...Read More >
India is importing more crude oil from the United States. Imports have increased significantly since January 2025. The rise is particularly noticeable in the April-June quarter. The financial value of these imports has more than doubled. India's imports of LPG and LNG from America have also increased. Both countries are optimistic about their relationship. India has dramatically increased its crude oil imports from the United States since President Donald Trump returned to the White House for h ...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 >
Back in April, Trump had announced tariffs of up to 27% on Indian goods, which was later paused. Since then, both sides have been racing to negotiate an agreement, with officials sometimes sounding positive and at other times, measured. "We continue to speak with our Indian counterparts. We've always had very constructive discussions with them," US Trade Representative Jamieson Greer said earlier this week. He also acknowledged that although he had earlier said a deal with India might be "imm ...Read More >
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