EU to propose permanent ban on Russian oil after Hungary election, document shows

February 24, 2026 7:08 PM

EU to propose permanent ban on Russian oil after Hungary election, document shows

The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary's parliamentary election, according to EU officials and a document seen by Reuters. Two EU officials told Reuters the timing was designed to prevent the oil ban becoming a major factor in Hungary's election campaign. Hungary and Slovakia, still reliant on Russian oil imports, are strongly opposed to any ban. In the April 12 election, Hungarian Prime Minister Viktor ...

Trump imposes additional 25% tariff on Indian imports; economists warn of impact on growth

August 7, 2025 8:20 AM

Trump imposes additional 25% tariff on Indian imports; economists warn of impact on growth

U.S. President Donald Trump has imposed an additional 25% tariff on imports from India, a move economists say could dent India’s GDP growth in FY26 by up to 0.4%. Sonal Badhan, Economics Specialist at Bank of Baroda, told ANI, “We had initially priced in an approximate 0.2% impact on GDP growth due to the earlier 25–26% tariffs imposed by the U.S. The additional 25% hike will come into effect after 21 days. During this time—or in the coming months—there is a likelihood that lower rate...