State processors are collectively working on finalizing and securing new six-month supply contracts for Russian crude to India, eager to take more of the heavily-discounted stocks.
As other nations restrict imports because of the war in Ukraine, India and China have snapped up millions of barrels from Russia to take advantage of hefty discounts on the flows.
India’s diesel exports in March were highest since April 2020 when it hit 847,000 barrels a day, according to Jane Xie, a senior oil analyst at data and analytics firm Kpler in Singapore.
As many as 4 import duty cuts were effected with respect to three edible oils between June and September, following a sharp rise in prices over the preceding months.
Javad Zarif’s India trip comes amid tensions between Tehran and Washington over the killing of senior Iranian commander Qassem Soleimani in a US drone strike.
India buys more than two-thirds of its oil, mostly from the Middle East, which means if crude prices stay up, RBI may not be able to deliver more than 25 basis points of cuts.
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.
21st edition of annual joint military exercise will be held from 1 to 16 September, aimed at sharing military tech, operational best practices & disaster relief coordination methods.
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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