Before US attack, analysts at Oxford Economics modeled 3 scenarios, including de-escalation, complete shutdown in Iranian oil production and closure of Strait of Hormuz.
Since the imposition of the price cap in December 2022, India has mostly paid above the $60 ceiling for Russian oil that had still proved cheaper than the similar grades from elsewhere.
Petrol and diesel rates have not been lowered in India since May 2022 even though international oil prices are down 25% from June 2022 peak. Analysts believe ‘politics is at play’.
With its fleet of hurriedly assembled tankers, Moscow is likely to defy EU oil sanctions. Moreover, eased US sanctions on Venezuelan crude to help New Delhi meet energy demand.
The dynamics between Europe and Russia have gone so south that mending fences looks like an uphill task—even as the US swings between sanctions and olive branches.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
President of India has honoured 16 BSF personnel with gallantry medals for show of exemplary courage in the 87-hour ‘war’ between India and Pakistan that followed the launch of Op Sindoor.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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