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NEW DELHI: Oil prices have been on the boil since the war between the US, Israel and Iran broke out on 28 February. To ease supply concerns and prices of over $100 per barrel, the Organization of Petroleum Exporting Countries (OPEC) and its allies including Russia, together known as OPEC+, agreed to increase production in May. Mint looks at how the proposed rise in output might impact global prices. With the blockade of the Strait of Hormuz, about 20% of global energy supplies from Gulf countri ...Read More >
NEW DELHI -- India announced Saturday it has resumed oil imports from Iran for the first time in seven years, as the ongoing Middle East conflict disrupts global energy supplies. The move marks India's first public confirmation since 2019, when it halted Iranian oil purchases after US sanctions waivers expired. "Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports," the Mini ...Read More >
NEW DELHI, April 2: India joined over 35 nations in a UK-convened summit on Thursday to discuss political and diplomatic measures to reopen the Strait of Hormuz, which has been effectively closed since late February following US-Israel strikes on Iran. Represented by Foreign Secretary Vikram Misri, India participated in the virtual talks focused on restoring freedom of navigation, ensuring the safety of trapped ships and seafarers, and resuming the flow of vital commodities. The UK emphasized d ...Read More >
New Delhi [India], April 2 (ANI): India's Foreign Secretary Vikram Misri on Thursday participated in a high-level meeting hosted by the United Kingdom on the evolving situation in West Asia, underlining concerns over maritime security, energy supply disruptions and the need for diplomatic de-escalation. According to a press release, the meeting, convened by the UK Foreign Secretary, saw participation from more than 60 countries amid rising tensions in the region. During the discussions, the Fo ...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 >
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 >
New Delhi: The Congress on Wednesday took a swipe at the government after US President Donald Trump repeated his claim that India is "not going to buy much oil from Russia" and, said this is the fourth time in six days that the American leader has announced India's policy. Congress general secretary in-charge communications Jairam Ramesh said, "The PM has finally acknowledged publicly that President Trump called him up and that the two spoke to each other. But all that the PM has said is that t ...Read More >
New Delhi [India], October 22 (ANI): Senior Congress leader Jairam Ramesh on Wednesday took a dig at Prime Minister Narendra Modi after US President Donald Trump reiterated his "India agreed to stop Russia oil purchase" claims for the "fourth time in six days". In a post on X, Ramesh said that PM Modi acknowledged his conversation with Trump, but only to inform that the latter extended greetings for Diwali. However, he added, Trump has revealed that they also discussed India's oil imports from ...Read More >
Taking a swipe at the government, the Congress on Tuesday said the matter of India's imports of oil from Russia has been raised by US President Donald Trump thrice in the past five days, and he has "brushed aside" the MEA's attempts at denial of any conversation in which Prime Minister Narendra Modi promised stopping Russian oil imports. The opposition party's assertion came after Trump said India is going to pay massive tariffs if it continues to buy oil from Russia, while reiterating that he ...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 >
US President Donald Trump stated on Wednesday (local time) that Indian Prime Minister Narendra Modi had assured him India would halt purchases of Russian oil, calling it "a big step" in efforts to pressure Moscow internationally. Trump made the remarks during a joint news conference with FBI Director Kash Patel at the Oval Office, where they also discussed steps to curb violent crime. Responding to a question from ANI about India as a reliable partner, Trump said, "Yeah, sure. He's [PM Narendra ...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: The Ministry of External Affairs on Thursday clarified that there was no telephonic conversation between Prime Minister Narendra Modi and US President Donald Trump yesterday."On the question of whether there was any conversation or phone call between Prime Minister Modi and President Trump, I am not aware of any conversation yesterday between the two leaders," MEA spokesperson Randhir Jaiswal said at his weekly press briefing. The statement follows Trump's recent remarks on Indian oi ...Read More >
New Delhi: India's Ministry of External Affairs has denied reports of a conversation between Prime Minister Narendra Modi and former U.S. President Donald Trump regarding the suspension of Russian oil imports. Responding to media queries, the Foreign Ministry spokesperson said that the government has already issued a statement addressing the U.S. remarks on energy-related matters. The spokesperson clarified that, to their knowledge, no phone conversation took place between Modi and Trump in re ...Read More >
NEW DELHI (AP) -- India says it is looking to step up purchases of crude oil and natural gas from the U.S. as it diversifies its energy supplies and confronts criticism by U.S. President Donald Trump over its imports of discounted Russian oil. Trump said Wednesday that Indian Prime Minister Narendra Modi had personally assured him his country would stop buying Russian oil, in a move that might add to pressure on Moscow to negotiate an end to the war in Ukraine. "There will be no oil. He's not ...Read More >
New Delhi, October 16: India on Thursday responded to comments made by US President Donald Trump about Prime Minister Narendra Modi's assurance to halt Russian oil purchases, stating that the country's energy sourcing is guided by its national interests and the need to protect Indian consumers. Responding to media queries, MEA spokesperson Randhir Jaiswal said, "India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer ...Read More >
New Delhi [India], October 16 (ANI): Congress MP Imran Masood on Thursday slammed the centre over Donald Trump India would stop purchasing oil from Russia claims, asking whether the US president was India guardian. Questioning Prime Minister Narendra Modi silence on the issue, Masood asserted that the centre must clearly state that the country stands with Russia since it is an old friend. Trump hamara baap hai kya? (Is Trump our father?) Why did he tell us everything while our Prime Minister s ...Read More >
New Delhi [India], October 16 (ANI): Amid mounting chaos over Donald Trump India would stop purchasing oil from Russia claims, senior Congress MP Jairam Ramesh on Thursday took a dig at the centre, saying that decisions made by the Indian government are announced by the US president. The decisions made by the Government of India are announced by President Trump in Washington DC. Yahan se tareef, wahan se tariffs, Ramesh, General Secretary incharge of Communication in Congress, told ANI. He fur ...Read More >
Mumbai (Maharashtra) [India], October 16 (ANI): Shiv Sena (UBT) MP Priyanka Chaturvedi on Thursday said that delusions surrounding the US President Donald Trump recent claims related to India-Pakistan relations, air combat figures, and oil imports from Russia should be debunked. She further sought an answer from Prime Minister Narendra Modi by saying that silence is betrayal in such situations. In a post shared on X, Chaturvedi said, These delusions need to be debunked. Silence is betrayal in s ...Read More >
Mumbai (Maharashtra) [India], October 16 (ANI): Shiv Sena (UBT) MP Priyanka Chaturvedi on Thursday said that "delusions" surrounding the US President Donald Trump's recent claims related to India-Pakistan relations, air combat figures, and oil imports from Russia should be "debunked". She further sought an answer from Prime Minister Narendra Modi by saying that "silence is betrayal in such situations". In a post shared on X, Chaturvedi said, "These delusions need to be debunked. Silence is betr ...Read More >
New Delhi [India], October 16 (ANI): Congress launched a scathing attack against Prime Minister Narendra Modi, calling him a "weak" PM after US President Donald Trump said that India had assured him of stopping the purchase of oil from Russia. Congress alleged that PM Modi struck a deal with the US President at the cost of the country's honour while "fearing Trump's anger and threats." The Opposition party's X handle on Thursday wrote, "Narendra Modi has once again struck a deal at the cost of ...Read More >
NEW DELHI: Commerce and industry minister Piyush Goyal has indicated that India could buy more oil from the US amid repeated calls from American President Donald Trump for India and China to lower purchase of Russian crude."We are big importers of energy from across the world, including from the US. We expect to increase our trade with the US on energy products in the years to come... Our energy security goals will have a very high element of US involvement, which will ensure high stability, div ...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 >
New Delhi, Sep 13 (SocialNews.XYZ) RSS chief Mohan Bhagwat's statement on Friday that tariffs on Indian goods have been imposed out of fear of a stronger India was not in isolation. SBI Capital Markets, in its report "Tariffs are Made in the USA, but Resilience is Made in India," described the aggressive US tariff regime as a "key flashpoint" designed to pressure India's external sector. The report had viewed the approach as targeted at curbing India's broader economic momentum. However, rece ...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 >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russi ...Read More >
NEW DELHI - New Delhi has put on hold its plans to procure new US weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people ...Read More >
New Delhi: In a significant development amid the imposition of increasing tariffs and penalties on India by the US led by President Donald Trump, India's largest bank, the State Bank of India (SBI) has indicated in its report that India's crude oil import bill could increase by USD 9 billion to USD 12 billion, if the country stops buying Russian crude oil. Here are all the details you need to know about how much oil Russia is exporting to India and what has the SBI said on the loss if India stop ...Read More >
NEW DELHI (Reuters) -New Delhi has put on hold its plans to procure new U.S. weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of ...Read More >
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