Without Russia, India’s oil import bill may rise USD 5-10 billion
Russia also supplies crude to India at a discount to international prices, making any significant reduction in purchases potentially costly for the economy.
Trade & Economy
US Senators Seek 100% Tariffs on India, Others for Russian Oil
The bill exempts 15 European nations that buy gas from Russia from the tariffs, arguing that the purchases amount to a fraction of their total requirements and the countries in question were taking steps to reduce dependence on Moscow.
Saudi Arabia considers expansion of oil pipeline to Red Sea, sources say
The East-West pipeline was built in the early 1980s and has become crucial since the start of the Iran war in February and the resulting halt to shipping through the Strait of Hormuz.
India-Israel Bilateral Investment Agreement (BIA) comes into force
Government of the Republic of India and the Government of the State of Israel had signed Bilateral Investment Agreement (BIA) on 8th September 2025 in New Delhi
India Inc hikes prices, shrinks packs as Iran war squeezes margins
Reuters CHENNAI/BENGALURU, June 8 (Reuters) – From smaller packs on shelves to higher prices at
US Trade Representative Proposes 12.5% Additional Duties on India, 53 Other Countries Over Forced Labour Import Violations
India has denied the allegations under the forced labour clause and asked the US to end the investigations, saying such matters should be addressed within the framework of ongoing bilateral trade negotiations.
Iran is consolidating control of Hormuz with island checkpoints, diplomatic deals – and sometimes ‘fees’
Iran is enforcing a multi-tiered system for clearing vessels through the Strait of Hormuz as nations try to replenish dwindling energy supplies throttled by the war. The U.S. has warned against complying with Iran’s controls. Some shippers and governments are taking the risk.
India declines Russian LNG under sanctions, talks continue on permitted cargoes, sources say
Reuters New Delhi, May 11 (Reuters) – India has declined Russia’s offer to sell it
UAE to Exit OPEC, OPEC+ from May 1st
The UAE State news agency WAM said the move follows a review of production policy and capacity, aimed at enhancing flexibility in responding to market demand while continuing to support global energy stability.
Saudi Arabia backstops Pakistan with $3 billion as UAE debt looms
Reuters DUBAI/LAHORE April 15 – Saudi Arabia will provide $3 billion in additional support for Pakistan