India's Russian oil trade: US secretary claims India 'geared down and stopped'; threat of 500% tariff legislation looms

India’s Russian oil trade: US secretary claims India ‘geared down and stopped’; threat of 500% tariff legislation looms

US Treasury Secretary Scott Bessent claimed that India has scaled back purchases of Russian oil following trade action taken by President Donald Trump, linking New Delhi’s move to the imposition of tariffs by Washington.Speaking at the World Economic Forum in an interview with Fox Business, Bessent, talking about the Russian Sanctions Bill, said India began…

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Veiled jibe at the US? Jaishankar says politics now ‘trumps’ economics; urges India to diversify supply chains for security

Veiled jibe at the US? Jaishankar says politics now ‘trumps’ economics; urges India to diversify supply chains for security

File photo: External affairs minister S Jaishankar (Picture credit: ANI) External affairs minister S Jaishankar on Saturday said the world has entered an era where “politics increasingly trumps economics” and stressed that India must continuously diversify supply sources to safeguard national interests. The minister was speaking after receiving an Honorary Doctorate from IIM-Calcutta, reported PTI.“This…

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Trade relief: India to gain from US tariff cuts on select agri items; officials say level playing field restored

Trade relief: India to gain from US tariff cuts on select agri items; officials say level playing field restored

India is set to benefit modestly from the United States’ decision to withdraw reciprocal tariffs on a set of agricultural products, including tea, coffee and spices, the commerce ministry said on Monday, PTI reported. The tariff exemptions, announced through a White House Executive Order on November 12, took effect the next day.The move rolls back…

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