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March 13, 2026 10:52 PM

Trump says US will hit Iran ‘very hard’ after easing sanctions on Russian oil

President Donald Trump said the U.S. was going to be hitting Iran "very hard over the next week", shortly after issuing a partial 30-day waiver for purchases of sanctioned Russian oil, hoping to ease prices fuelled by the U.S.-Israeli war on Iran. Prices have been whipsawing on Trump's changing comments on the likely duration of the war, which has prompted Iran to attack vessels in the Strait of Hormuz, the conduit for a fifth of the world's oil. Trump has previously said the war is "complete"...

February 16, 2026 6:05 PM

Hungary asks Croatia for help after Russian oil flows via Ukraine halted

Hungary and Slovakia have asked Croatia to help to deliver Russian oil, Hungary's foreign minister said on Monday, after disruption to flows via Ukraine and conflicting accusations of blame. A Russian attack on the Druzhba pipeline in Ukraine on January 27 knocked out flows to Eastern Europe, Kyiv's foreign ministry said on Thursday. Foreign Minister Andrii Sybiha posted a photo on X of firefighters and what he said was Druzhba pipeline infrastructure burning, adding that Hungary had not publi...

February 4, 2026 12:53 PM

US hails India trade deal, $500 billion investment pledge

The White House hailed a new trade agreement with India, saying Prime Minister Narendra Modi has committed to ending purchases of Russian oil, buying energy from the United States, and investing $500 billion across key American sectors. White House Press Secretary Karoline Leavitt said the agreement announced by President Donald Trump a day earlier would bring direct benefits to the US economy and American consumers. “India committed to not only no longer purchasing Russian oil, but buying o...

January 5, 2026 9:07 AM

Trump calls PM Modi ‘good man’, says India ‘cut’ Russian oil imports

US President Donald Trump praised Prime Minister Narendra Modi, calling him a “good man” for “cutting down” India’s purchase of Russian oil. “Modi’s a very good man,” Trump told reporters on Air Force One while returning to the White House from West Palm Beach in Florida on Sunday (local time). “He’s a good guy,” Trump said while responding to a question. Trump claimed New Delhi adjusted its policy after understanding Washington’s displeasure over continued Russian ene...

October 3, 2025 10:10 AM

India won’t allow humiliation: Putin praises “friend” PM Modi as “balanced and wise leader”

Russian President Vladimir Putin has backed India’s decision to continue buying oil from Moscow, stressing that New Delhi will not be swayed by external forces. Speaking at the Valdai Discussion Club in Sochi, Putin said India’s energy purchases were driven by economic pragmatism rather than politics. “If India refuses our energy supplies, it will suffer losses of around $9–10 billion. If it doesn’t refuse, sanctions will be imposed, and the loss will be the same. So why refuse if it ...

August 16, 2025 9:25 AM

Trump says no imminent plans to penalize China for buying Russian oil

U.S. President Donald Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks." Trump has threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves are made to end the war in Ukraine. China and India are the top two buyers of Russian oil. The president last week imposed an additional 25% tariff on Indian goods, citing its continued imports o...

August 6, 2025 2:30 PM

US Tariff Hike Unlikely to Impact Indian Economy Significantly: RBI Governor

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said that the recent US tariff hike is not expected to have a major impact on the Indian economy, unless retaliatory tariffs come into play. Addressing a press conference following the monetary policy announcement, Malhotra said, “There might not be a major impact of the ongoing uncertainty over the US tariffs on India’s economy. This is subject to retaliatory tariffs coming into the picture, which we do not foresee.” He a...

July 17, 2025 3:51 PM

Global oil prices likely to decline, India ready for any sanctions fallout: Hardeep Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday expressed confidence that global oil prices could see a decline in the coming months. He also played down concerns about possible US sanctions over India’s continued purchase of oil from Russia. “The price of oil will come down as more sources of supplies are coming. We have enough oil around,” Puri said, underlining India’s strategy of tapping into a wider pool of suppliers to ensure energy security. In response t...

November 8, 2024 3:41 PM

India’s purchase of Russian oil helped avert global price surge: Petroleum Minister Hardeep Singh Puri

India's decision to buy Russian oil during a period of global economic uncertainty prevented a steep rise in international oil prices, said Union Petroleum and Natural Gas Minister Hardeep Singh Puri. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on Thursday, Puri said, “If the Indian government hadn’t bought Russian oil, the global oil price would have gone up to $200 for everyone. ” "By 2026, when more energy is available in the market, As a stude...