INDIA RUSSIA TRADE RELATIONS
India turns to Russia to break China’s rare earth monopoly
India is actively seeking partnerships with Russian companies to secure vital rare earth magnets and critical minerals, aiming to reduce dependence on China. This strategic move follows Beijing's recent export curbs, impacting key industries. Indian firms and research institutions are evaluating Russian processing technologies, with potential collaborations involving state-run giants like Nornickel and Rosatom.
How India is playing its oil-buying game
India's foreign policy has prioritised national interest amid global shifts. Recent claims about stopping Russian oil imports were dismissed. India is diversifying oil sources, increasing purchases from the US. This strategic approach balances relationships with key energy partners, demonstrating a mature and confident foreign policy.
India tries to balance US, Russia ties in pursuit of Trump deal
India navigates a delicate balance, seeking a trade deal with the US while maintaining energy ties with Russia. Prime Minister Modi indicated a potential reduction in Russian oil purchases, signaling a willingness to work with Washington, though emphasizing the need for cost-effective energy supplies for consumers.
Russia claims it’s offering top-grade oil at bargain prices to countries Trump is courting
Kremlin spokesman Dmitry Peskov said Moscow can offer high-quality oil at lower prices to nations that U.S. President Donald Trump is urging to halt Russian imports. He warned that denying countries the right to choose their suppliers would breach free trade principles.
No telephone conversation between Modi & Trump yesterday: MEA counters US President's claim
India’s External Affairs Ministry on Thursday said it is “not aware of any conversation” between Prime Minister Narendra Modi and US President Donald Trump regarding Russian oil purchases, countering Trump’s claim that Modi had assured him India would stop buying Russian crude. MEA spokesperson Randhir Jaiswal clarified there was no call or discussion between the leaders on the matter.
India to stop buying Russian oil like Trump claims? MEA issues statement
The External Affairs Ministry said the US has shown interest in deepening energy cooperation with India, with discussions underway. The statement came after President Trump claimed Prime Minister Modi assured him India would stop buying Russian oil.
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Trump claims PM Modi assured India will stop buying Russian oil
President Trump announced that Indian Prime Minister Modi pledged to cease oil purchases from Russia, a significant move aimed at cutting Moscow's energy revenues. Trump stated his intention to pursue similar action from China next. This development follows U.S. tariffs imposed on Indian exports to discourage Russian oil imports.
India considers easing certain Chinese import curbs amid growing reliance, say sources
India’s trade ministry and NITI Aayog are considering easing certain tariff and non-tariff restrictions on Chinese imports to secure raw materials vital for industrial and export growth. Measures under discussion include letting anti-dumping duties lapse on some products and cutting tariffs on raw materials for sectors like leather and engineering goods where domestic supply is limited.
Indian firms explore localisation of pharma production in Russia
The Russian market is attracting growing interest from Indian pharmaceutical companies exploring opportunities to establish production facilities across various regions of the country. This was announced by Moscow Government Minister and Head of the Department for External Economic and International Relations, Sergey Cheremin, during the " Russia-India. Mutual Efficiency" forum.
It is based on India's national interest: Russia on its energy ties with New Delhi
Russia’s envoy to India, Denis Alipov, said energy cooperation with India aligns with New Delhi’s national interests, highlighting an upswing in bilateral trade. His remarks came after President Trump claimed Prime Minister Modi assured him India would stop buying Russian crude.
Explained: India's Russian oil trade and options before it
US President Trump claimed India will halt Russian oil buys, but Indian refiners await government clarity. Russia remains India's top oil supplier, offering significant discounts. Abruptly stopping these imports is near impossible, with deliveries contracted months ahead. Refiners face economic and strategic trade-offs if Russian oil becomes inaccessible.
Some Indian refiners to move away from Russian oil, sources say
India plans to reduce liquefied petroleum gas (LPG) imports from the Middle East as state refiners aim to increase purchases from the U.S., supporting broader trade talks with Washington. State refiners have informed suppliers in Saudi Arabia, UAE, Kuwait, and Qatar about the likely cut, though the exact reduction is unclear.
Russia confident of continuing energy trade with India: DPM Novak
Russia remains confident in its energy ties with India. Deputy Prime Minister Alexander Novak stated cooperation will continue. This comes after US President Donald Trump claimed India assured him of stopping Russian oil purchases. India maintains its import policies are driven by national interest and market conditions.
Indian refiners prepare to cut Russian oil imports, sources say
Russian oil exports to India may decline as refiners await official guidance following President Donald Trump’s claim that Prime Minister Modi committed to stopping Russian crude imports. Executives from state-owned and private refiners said they were surprised by Trump’s remarks and had received no instructions from New Delhi.
'Yahan se tareef, wahan se tariffs': Jairam Ramesh takes swipe at PM Modi after Trump's Russia oil claim
Indian opposition leaders are questioning the government's foreign policy. US President Donald Trump stated Prime Minister Narendra Modi assured him India would cease Russian oil purchases. Congress leaders allege the Indian government's decisions are announced by the US President. India's Ministry of External Affairs responded that energy sourcing is based on national interests and consumer protection.
'Modi is frightened of Trump': Rahul Gandhi criticises PM over US President's remark on Russian oil buys
Congress leader Rahul Gandhi and the party have criticized Prime Minister Narendra Modi following Donald Trump's claim that India will stop purchasing oil from Russia. They allege Modi is "frightened" of Trump and has compromised India's honor and foreign policy for personal gain, ruining relations with Russia.
China files complaint against India in WTO over EV, battery subsidies
China has lodged a complaint with the World Trade Organization against India's electric vehicle and battery subsidies. Beijing claims these measures violate global trade rules and unfairly benefit Indian industries. This move comes as China seeks to increase EV exports to India. India's trade deficit with China has also widened.
Russia to boost banana import from India
In a fresh twist to international trade, Russia is poised to become a major player in the banana market, turning its gaze towards India for imports. The Russian agricultural oversight body, Rosselkhoznadzor, has revealed plans to source anywhere from 300,000 to 500,000 metric tonnes of bananas annually.
UK is taking targeted action against Indian, Chinese Firms over Russian oil trade, British finance minister says
The UK is cracking down on Indian and Chinese companies that are helping Russia sell its oil. Chancellor Jeremy Hunt announced these targeted sanctions, aiming to disrupt Moscow's oil trade and put more pressure on Russia's economy. This move signals a tougher stance from Britain against those facilitating Russian oil sales.
Canada may need India now more than ever as trade risks mount
Canada is seeking to diversify its trade and strategic partnerships, particularly with India, to mitigate economic pressures from the United States and China. Foreign Minister Anita Anand is leading efforts to strengthen ties with India, focusing on trade, technology, energy, and security, aiming for a more stable economic future.
Oil edges up as US-China de-escalate trade tensions
Oil prices edged higher as U.S.-China trade tensions showed signs of easing, boosting market sentiment and alleviating concerns over global fuel demand. Despite recent setbacks, both nations are reportedly engaged in substantial communications, with a potential meeting between leaders later this month.
India should engage with US for lifting of sanctions on Chabahar port: Afghan Foreign Min
Afghanistan's Foreign Minister Amir Khan Muttaqi urged India to engage with the US to lift sanctions on the Chabahar port for its optimum utilization. He also requested easier visa processes for increased trade, medical tourism, and people-to-people exchange between the two nations.
'This is India's moment,' says US media leader Mark A. Aitken
Mark A. Aitken, Senior VP of Sinclair Broadcast Group, praised India’s transformation from an underdog to a global technology leader, saying the country has moved from "potential to execution" and is now "reshaping the global economy."
India taking up export barriers with Russia
India is actively addressing over 65 non-tariff barriers impacting its marine and agricultural exports to Russia, aiming to reduce a significant trade deficit. Key concerns include obtaining approval for Indian marine product units for shrimp exports, a crucial step for diversifying shipments after US tariffs.
Canadian political commentator calls for balanced action on Khalistanis to strengthen New Delhi-Ottawa ties
Udall emphasised that the Canadian government, led by Prime Minister Mark Carney, should take India's security and sovereignty concerns seriously to foster a more stable and forward-looking partnership.
China denies key technology exports to Russia, production of missile and engine components affected
China is reportedly restricting exports of crucial precision machine tools to Russia. This move could hinder Russia's ability to manufacture advanced missile and engine components. Chinese customs data shows a significant drop in trade with Russia. This commercial shift appears to be a strategic adjustment by Beijing. The long-term impact on Russia's military output remains unclear.
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