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Indian rupee (left) and US dollar currency notes are held by a foreign exchange employee. File/AFP India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was "very near." "India will not sign any trade deal in a hurry," Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the US concerns over India's continued ...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 >
NEW DELHI: Indian oil refiners can shift away from Russian crude after US President Donald Trump imposed sanctions on Moscow's two largest oil companies - but the move will come at a cost, analysts said Friday. Trump has claimed that Indian Prime Minister Narendra Modi has agreed to cut its Russian oil imports as part of a prospective US trade deal - something New Delhi has not confirmed. Relations between the countries plummeted in August after Trump raised tariffs on Indian exports to the US ...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 >
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 >
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: Indian Prime Minister Narendra Modi confirmed he held a conversation with Donald Trump on Wednesday. The US president stated they discussed trade as both countries negotiate a potential deal to mend strained relations. Bilateral ties deteriorated in August when Trump increased tariffs on Indian exports to the United States to 50%. US officials had accused India of financing Russia's war in Ukraine through purchases of discounted Moscow oil. Trump mentioned the phone call with Modi ...Read More >
Russian Deputy Foreign Minister Andrey Rudenko said Russian oil shipments to India are continuing, state news agency TASS reported. "Everything continues," he told reporters when asked about ongoing supplies. Russian Deputy Foreign Minister Andrey Rudenko said that Russian oil companies continue to ship oil to India, Russian state news agency TASS reported on Monday. "Everything continues," he said when asked whether Russian oil supplies to India continue. In October, the Press Trust of India ...Read More >
LONDON, Oct 20 (Reuters) - Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital revenue, but it will mostly just push more Russian oil into an increasingly large shadow market. The U.S. president said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, an agreement India has yet to confirm. India has become a major trade buyer of Russian oil since Moscow's invasion of Ukraine in 2022. ...Read More >
ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so. "I spoke with Prime Minister Modi of India, and he said he's not going to be doing the Russian oil thing," Trump told reporters aboard Air Force One. Asked about India's assertion that it was not aware of any conversation between Modi and Tr ...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 on Sunday (local time) reiterated his claim that he had spoken to Prime Minister Narendra Modi, who told him India would cease buying Russian oil. Speaking to reporters aboard Air Force One, Trump warned that India would continue to face "massive" tariffs if it did not comply. This marks the third time the US President has repeated his claim, first made on October 15, regarding India halting Russian oil purchases and him speaking to PM Modi. "I spoke with Prime Minist ...Read More >
By Jarrett Renshaw and Nidhi Verma WASHINGTON/NEW DELHI (Reuters) -India has halved its purchases of Russian oil, a White House official said, but Indian sources said no immediate reduction had been seen, as President Donald Trump's administration presses New Delhi and other nations to buy less Russian crude. Russian oil is a main irritant for Trump in prolonged trade talks with India - half of his 50% tariffs on Indian goods are in retaliation for those purchases. His administration says Mosc ...Read More >
HYDERABAD: A 37-year-old man from Khairatabad, Hyderabad, Mohammed Ahmed, has allegedly been defrauded by a job agent and sent to Russia, where he has reportedly been drafted to fight in the war against Ukraine. "He has been given a weapon and asked to fight in the war against Ukraine. His last known location is near the Ukraine border. Our request to the government is that he should be helped and brought back to India," Firdous Begum, a close relative of Ahmed, told TOI on Thursday. Ahmed, who ...Read More >
New Delhi: 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. Imports from Russia slid from over 2 million barrels per day in June to 1.6 million bpd in September. However, tanker-tracking data for early October suggest a rebound: shipments of Urals and other Russian grades to India have picked up pace ...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 >
Illustration: Donald Trump and Narendra Modi amid US-India-Russia oil tensions over Ukraine President Donald Trump announced on 15 October that Indian Prime Minister Narendra Modi had committed to halting oil purchases from Russia, a step Trump said would make it easier to pressure Moscow to end Russia's war against Ukraine, now in its fourth year. India has been one of Russia's key economic partners since Western sanctions targeted Russian energy exports following the February 2022 invasion. ...Read More >
WASHINGTON (TNND) -- President Donald Trump said on Wednesday that during a phone call with Indian Prime Minister Narendra Modi, the prime minister assured Trump that India would cease buying oil from Russia. "There will be no oil. He's not buying oil," Trump said. The change won't take immediately, he said, but "within a short period of time." India's foreign ministry said it was "not aware" of the phone call. India is the second-largest buyer of Russian oil. It said the government's consist ...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 (Reuters) -Some Indian refiners are preparing to cut Russian oil imports, three sources told Reuters on Thursday, after U.S. President Donald Trump said India had given an assurance it would stop its buying to help end the war in Ukraine. India and China are the biggest buyers of Russian sea-borne crude, taking advantage of discounted prices Russia was forced to offer after losing sales to Europe following Moscow's invasion of Ukraine in 2022. Indian refiners are preparing to shift a ...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 >
NEW DELHI - Some Indian refiners are preparing to cut Russian oil imports, three sources told Reuters on Thursday, after U.S. President Donald Trump said India had given an assurance it would stop its buying to help end the war in Ukraine. India and China are the biggest buyers of Russian sea-borne crude, taking advantage of discounted prices Russia was forced to offer after losing sales to Europe following Moscow's invasion of Ukraine in 2022. Indian refiners are preparing to shift away from ...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 (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: India on Thursday clarified that its oil import decisions are solely driven by the need to protect Indian consumers amid a volatile global energy market, responding indirectly to US President Donald Trump's claim that Prime Minister Narendra Modi assured him India would stop buying oil from Russia. Speaking at the White House on Wednesday, Trump said he was "not happy" about India buying Russian crude and that Modi had "assured" him the purchases would end "within a short period of t ...Read More >
NEW DELHI - 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. Recommended Videos "There will be no ...Read More >
"India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective. Ensuring stable energy prices and secure supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions," the statement read. On Wednesday night, Trump told reporters at an Ova ...Read More >
New Delhi, Oct 16 (PTI) Congress leader Rahul Gandhi on Thursday claimed that Prime Minister Narendra Modi is "frightened" of US President Donald Trump, saying that he allowed the American leader to "decide and announce" that India will not buy Russian oil and "keeps sending congratulatory messages despite repeated snubs". 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 in ...Read More >
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