Petroleum
US President Donald Trump declared on Tuesday that he would be increasing tariffs "very substantially" beyond the initial 25% on Indian goods and services. Trump stated that India's high tariffs were a "sticking point" in their trade deal and accused India of fueling the
Exports
The Nigerian Senate has passed a bill requiring that at least 30 percent of all export-bound raw materials be processed locally, a move that is seen as a long-overdue step towards economic diversification. This legislation is a significant development in Nigeria's quest for economic transformation, as it has
Petroleum
Russia's Ryazan oil refinery has drastically reduced its production by half, while the Novokuibyshevsk refinery has halted operations entirely following recent Ukrainian drone attacks. The strikes, which targeted multiple industrial and military facilities across Russia, have escalated Ukraine's long-range drone attacks against the Russian oil processing
European Union
India has defended its energy strategy, calling the targeting of India over its continued oil imports from Russia "unjustified and unreasonable." The ministry of external affairs (MEA) stated that India's crude oil purchases from Russia are a necessity compelled by global market conditions and not a
International trade
India's Ministry of External Affairs (MEA) has strongly refuted the US administration's tariff threats, calling them "unjustified and unreasonable" over the country's import of Russian oil. This move comes after repeated warnings from the US President, Donald Trump, who has accused India
European Union
India has objected to criticism from the United States and the European Union (EU) over its decision to import oil from Russia, calling it "unjustified and unreasonable." The Indian government has argued that its energy imports from Russia are essential to maintaining affordable fuel prices for its consumers.
Petroleum
The Indian government has been reducing its purchases of Russian oil as the US and Western powers apply pressure on India to abandon Moscow's energy imports. US President Donald Trump said that he "heard" India would no longer buy oil from Russia, calling it a "
India
Indian officials reiterated on Saturday that they would continue to purchase cheap oil from Russia despite a threat of penalties from President Trump. This move reflects increasing frustration with the rapidly souring relationship between India and the US, with India's huge population of 1.4 billion people relying
International trade
Indian oil refineries will continue to buy oil from Russia, officials have said, despite threatened US sanctions against Moscow's trading partners over the war in Ukraine. This decision comes despite media reports suggesting India would stop buying cheap Russian oil, and a statement by Trump saying such a
Petroleum
Despite US President Donald Trump's threat of unspecified sanctions, India has reiterated its plans to continue buying Russian oil, with officials stating that there has been no change in policy. This move comes as India has increased its purchases of Russian oil significantly since Vladimir Putin's
European Union
Nayara Energy, a major Indian refiner and buyer of Russian oil, has withdrawn its case against Microsoft from the Delhi High Court after the tech giant resumed its critical services. The services, including Outlook email accounts and Microsoft Teams, were suspended last week due to European Union sanctions against Russian
European Union
Nayara Energy, a major refinery operator in India with a significant stake owned by Rosneft, has launched a legal battle against Microsoft for suspending critical services due to EU sanctions on Russian energy. The sanctions, aimed at curtailing Russia's energy trade, have led to Microsoft restricting Nayara'
