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New Delhi [India], December 5 (ANI): 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 Prime Minister Narendra Modi, he said the two countries are seeing "successful partnership in energy," adding that "Russia is a reliable supply of oil, gas, coal and everything that is required for the develop ...Read More >
The Indian Rupee weakened against the US Dollar today. Month-end import demand and higher global crude oil prices are impacting the currency. Investors are awaiting the Federal Reserve's policy decision for further direction. Meanwhile, Indian equity markets showed gains in early trade. Crude oil imports from the United States have seen a significant increase. The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from im ...Read More >
NEW DELHI: India's largest oil refiner and fuel retailer, IndianOil, on Monday said it will comply with international sanctions, without referring to the latest US curbs on Rosneft and Lukoil -- two of the largest Russian crude exporters."We will abide by all sanctions imposed by the international community," company chairman Arvinder Singh Sahney said but declined to specify whether IndianOil will stop buying discounted Russian crude.IndianOil is the second Indian refining entity after private ...Read More >
India faces a dilemma: Should it continue buying Russian oil one way or another, or cease its imports altogether? For sure, the US has no right to dictate how two sovereign nations conduct their bilateral trade. While Russian companies have been sanctioned by the US, Moscow has no intention of stopping its oil exports. It is for the importing countries, such as India and China, to decide whether they are willing to risk potential secondary sanctions from the US for doing business with the sancti ...Read More >
NEW DELHI: As trade pact negotiations gain traction, India is pressing for a fair deal and clearer signals from Washington on sanctions related to Russian oil. In a key meeting India's Ambassador to the US, Vinay Mohan Kwatra, met US Deputy Secretary of Energy James Danly to review the India-US energy security partnership and recent trends in bilateral energy trade. Sources said the talks also touched on how impending US sanctions could affect global oil flows, even as supplies remain stable. " ...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 >
(The Center Square) - Indian conglomerate Reliance Industries said Friday it will adjust its refining operations to abide with U.S. and European sanctions on purchases of Russian crude oil. Reliance, India's largest oil importer, said in a statement posted on X that it is assessing the impact of restrictions announced in recent days by the European Union, United Kingdom and United States. The company said it will fully comply with applicable regulations while maintaining relationships with supp ...Read More >
Mumbai (Maharashtra) [India], October 24 (ANI): Reliance Industries said on Friday that it is assessing the implications, including the new compliance requirements, of the recent restrictions announced by the European Union, United Kingdom and the United States on crude oil imports from Russia and export of refined products to Europe and will comply with the EU's guidelines on the import of refined products into Europe. A Reliance Spokesperson said in a statement that whenever there is any guid ...Read More >
New Delhi: Indian refiners are likely to ramp up crude oil purchases from the Middle East, Latin America and the US to compensate for reduced imports from Russia, following Washington's sanctions on two major Russian producers, sources and analysts said. The US government, on October 22, imposed sanctions on Russia's two largest crude oil producers, Rosneft and Lukoil, barring all American entities and individuals from conducting business with them. Non-US firms could also face penalties if fou ...Read More >
[BENGALURU] Gold prices rose on Friday (Oct 24), supported by lingering geopolitical worries and US-China trade tensions, as investors awaited key US inflation data due later in the day for further cues on the interest rate path. Spot gold was up 0.3 per cent at US$4,138.52 per ounce, as at 9.20 am. However, bullion was on track for its worst week since May, down 2.7 per cent so far this week. US gold futures for December delivery rose 0.2 per cent to US$4,152.30 per ounce. US President Donal ...Read More >
For India -- whose dependence on cheaper Russian crude has risen significantly over the past three years -- these two firms account for about 60% of Russian oil supplies The fresh sanctions announced by the United States on Russia's two largest oil companies, Rosneft and Lukoil, are expected to raise India's crude oil import bill by around 2%, according to industry experts. Analysts noted that the two companies are among the world's major crude exporters, together supplying around 4 to 5 milli ...Read More >
Reuters: Indian refineries are ready to significantly reduce purchases of raw materials from Russia. Reliance Industries, India's largest private buyer of Russian oil, will be forced to reduce or stop imports in order to meet government requirements. The country may change its oil strategy in the face of global pressure, the agency said. After the conflict began in 2022, India became the largest buyer of discounted Russian oil, importing up to 1.7 million barrels per day. The decision to reduc ...Read More >
New Delhi: Reliance Industries Ltd, India's largest buyer of discounted Russian oil, plans to scale back imports following fresh US sanctions on Moscow-linked firms, dealing a significant blow to billionaire Mukesh Ambani's conglomerate. State-run refiners, however, may continue purchases through intermediary traders for now, industry officials said. Reliance, which operates the world's largest single-site oil refining complex at Jamnagar in Gujarat, purchased about half of the 1.7-1.8 million ...Read More >
NEW DELHI: Indian refiners are poised to sharply curtail imports of Russian oil to comply with new U.S. sanctions on two top Russian producers, industry sources said on Thursday, potentially removing a major hurdle to a trade deal with the United States. The change comes as India faces punishing 50% tariffs on its exports to the U.S. - with half of those duties in retaliation for Russian oil purchases - and negotiates a potential trade deal that could bring those tariffs in line with Asian peer ...Read More >
New Delhi, Oct 23 (PTI) Billionaire Mukesh Ambani's Reliance Industries Ltd, India's biggest buyer of discounted Russian oil, plans to scale back imports of Russian crude oil following fresh US sanctions on Moscow-linked firms, sources said. State-run refiners, however, may continue purchases through intermediary traders for now, industry officials said. Reliance, which operates the world's largest single-site oil refining complex at Jamnagar in Gujarat, purchased about half of the 1.7-1.8 mil ...Read More >
Mumbai, Oct 23 (PTI) Equity benchmark indices Sensex and Nifty ended marginally higher on Thursday, helped by robust buying in IT and tech stocks amid growing optimism on the US-India trade deal front. After hitting a 52-week high, indices reversed most of their intra-day gains on fag-end profit-taking after sentiment turned cautious amid concerns over US sanctions against Russia's two largest oil companies. Besides, an over one per cent decline in heavyweight Reliance Industries also pulled t ...Read More >
New Delhi, Oct 23 (PTI) US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Amban ...Read More >
NEW YORK (Reuters) -Oil prices were stable on Thursday as traders prepared for a potential halt to India's Russian oil imports, which could reshape flows and boost demand for supplies from elsewhere. Brent crude futures were down 28 cents, or 0.45%, to $61.63 a barrel at 12:40 p.m. EDT (1640 GMT). U.S. West Texas Intermediate futures were down 19 cents, or 0.33%, to $58.08. U.S. President Donald Trump said Prime Minister Narendra Modi had pledged on Wednesday that India would stop buying from ...Read More >
He added: "Indian companies source energy supplies from around the world while taking overall market conditions into account. We would stress that there should be no double standards, especially when it comes to energy trade." Nayara Energy has come under the lens of Western governments given that 49.13 percent of the Indian company is owned by Russia's petroleum giant Rosneft. Nayara, formerly Essar Oil Ltd, operates a refinery at Vadinar in Gujarat, which was hit with sanctions by the Europea ...Read More >
NEW DELHI: India on Thursday firmly rejected the United Kingdom's latest sanctions on Russia's oil sector, criticising the move as unilateral and warned against "double standards" in global energy trade. Among the entities targeted was Indian refiner Nayara Energy, which London accused of facilitating Russian oil exports. "We have noted the latest sanctions announced by the UK. We do not subscribe to any unilateral sanctions," said External Affairs Ministry spokesperson Randhir Jaiswal. "The Go ...Read More >
NEW DELHI (Reuters) -Western powers have ramped up pressure on Russia's oil sales amid its war with Ukraine as U.S. President Donald Trump said India would stop buying and Britain imposed sanctions on top Russian oil firms. Ukrainian President Volodymyr Zelenskiy is schedule to meet Trump in Washington on Friday to push for military and energy support at a time when Kyiv and Moscow are escalating the war with attacks on energy infrastructure. Indian officials are also in Washington for trade t ...Read More >
NEW DELHI: India on Thursday firmly rejected the United Kingdom's latest sanctions targeting Russia's oil sector and Indian firms, reiterating that it does not recognise unilateral sanctions, warning against "double standards" in energy trade."We have noted the latest sanctions announced by the UK... We do not subscribe to any unilateral sanctions. The Government of India considers the provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens," ...Read More >
NEW DELHI: Global crude oil prices rebounded from a five-month low after US President Donald Trump said Indian Prime Minister Narendra Modi had promised to halt purchases of Russian barrels -- a move that could tighten global supply. Speaking to reporters at the White House, Trump said, "So I was not happy that India was buying oil, and he (Prime Minister Narendra Modi) assured me today that they will not be buying oil from Russia. That's a big step. Now we're going to get China to do the same ...Read More >
New Delhi, Sep 16 (SocialNews.XYZ): The Trade Representation of Russia in India is the official partner of the 9th LNG India Summit 2025 to be held here on September 24-25. The international oil and gas event, dedicated to LNG (liquefied natural gas) sector cooperation, is being organised by the Indian branch of Messe Frankfurt. "For Russian companies, participation offers direct dialogue opportunities with Indian ministries and regulatory bodies, major market players, and insight into potenti ...Read More >
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