US sanctions part of efforts to cut Iran’s crude exports to zero & prevent country from advancing its nuclear programme. Tehran's oil exports generated around $53 bn in revenue in 2023.
Oil minister Hardeep Singh Puri warned that these cuts could tip the world into recession. He also informed that Indian firms have signed new oil supply deals with Colombia and Brazil.
EU leaders agreed to pursue a partial embargo on Russian crude oil shipped on sea, potentially costing Putin up to $10 billion a year in lost export revenue.
The hull of Ever Given became wedged lengthways across the canal Tuesday, causing a pileup of at least 100 vessels seeking to transit between the Red Sea and Mediterranean.
Saudi Oil Minister Prince Abdulaziz bin Salman spoke to Union Minister Dharmendra Pradhan Thursday. The country is India's second-largest oil supplier.
Under Obama, Iran's crude and condensate exports fell by around 1.2 million barrels a day. Under Trump, it seems the decline will be bigger and faster.
Mineral security is no longer just an economic concern but a national security imperative, underpinning the country’s ambitions in clean energy, defence self-reliance, and advanced manufacturing.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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