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Finance Minister Nirmala Sitharaman says India cannot abruptly abandon Russian crude and will base oil purchases on availability, price and refinery suitability as a new US law raises the risk of tariffs of up to 100% on major Russian-energy buyers.
A Houthi ballistic missile aimed at Riyadh was intercepted by Saudi air defences as explosions and smoke were reported near the Saudi capital’s main airport, marking a sharp escalation in the renewed Saudi-Houthi confrontation. The attack comes alongside strikes on Saudi energy infrastructure, inten
The new US law targets Russia’s energy, financial and defence networks and allows additional tariffs of up to 100% on goods from the largest buyers of Russian oil and gas. India faces significant exposure because of its large Russian crude imports, but a 100% tariff on Indian goods has not been impo
The House approved the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 by 262-159 after the Senate passed it 86-11. The measure now awaits President Donald Trump’s signature and could subject major buyers of Russian oil or gas to additional US tariffs of up to 100%, although India and Chin
New Delhi says its oil sourcing will continue to be guided by energy security, market conditions and diversified supplies after the US Congress cleared legislation allowing President Donald Trump to impose tariffs of up to 100% on major buyers of Russian energy. The tariffs are not automatic, and th
The House voted 262-159 to approve the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 after the Senate backed it 86-11 in August. The bill targets Russian banks, energy, defence and its “shadow fleet” while creating secondary tariffs for major buyers of Russian oil and gas. It now goes to
Saudi Arabia has temporarily shut its East-West oil pipeline after drone attacks launched from Iraq caused injuries and damage, while Houthi gains near Bab el-Mandeb increase pressure on already disrupted regional energy routes.
Brent crude has surged above $100 as US-Iran hostilities disrupt Middle East oil supplies, raising concerns over inflation, markets and India’s import costs.
The EU has announced a €200 million Greenland partnership covering minerals, energy and connectivity as Trump’s push for US control keeps Arctic sovereignty in focus.
