Russia has issued a stark warning to Western countries over efforts to disrupt its so-called shadow fleet, raising fears that the confrontation could spill into international shipping lanes.

Russian President Vladimir Putin has threatened retaliation if Western nations move to seize Russian vessels or assets linked to the shadow fleet. Moscow says such actions would amount to piracy and has warned that any response would not necessarily take place in the same waters.

The escalating tensions are creating a major challenge for Britain’s Royal Navy, which is already monitoring Russian warships and shadow fleet vessels around UK waters. Reports cited in the segment suggest concerns over whether the Royal Navy has sufficient ships, weapons and resources to protect commercial shipping across vast maritime routes.

As Russia and the West clash over sanctioned oil shipments, the world’s major shipping lanes could become the next arena of confrontation.

Russia Threatens Western Ships | Britain’s Royal Navy Faces Major Firepower Crisis

President Donald Trump's economic strategy is facing fresh scrutiny as his administration continues using tariffs and sanctions to pressure trading partners and geopolitical rivals.

New tariffs of up to 12.5% on imports from 60 countries are now facing legal challenges, with multiple US states arguing that the administration exceeded its authority. Economists also suggest that American businesses and consumers—not foreign exporters—are paying much of the cost through higher prices.

At the same time, US sanctions on Russia have pushed Moscow to expand alternative payment systems, shadow shipping networks, and trade partnerships with countries such as China and India.

Trump's Tariffs & Sanctions Under Fire | Are US Economic Pressure Tactics Failing?

The Russia-Ukraine war began in February 2022 and has been going on ever since for over four years now. Moscow launched a full-scale invasion of Ukraine, triggering the deadliest war in Europe since World War II. The conflict has not just increased tensions in the region, but also affected supply chains across the world. With no sign of a resolution of the conflict in the near future, the world has been forced to adapt to the shifts it brought to global energy markets, food security, and defence spending.<h2>Energy markets on edge</h2>The war has pushed the energy markets to the edge given Russia’s dominance over global crude oil exports. The sanctions and repeated strikes on its refineries have significantly changed the flow of supply in ways that are still playing out.Through 2025 and 2026, Ukrainian attacks on Russian energy infrastructure have intensified, at times cutting refinery output and tightening fuel availability inside Russia itself. In an unusual event, Russia even had to import refined fuels, including shipments from India.At the same time, tensions in the Middle East have kept traders on alert over potential disruptions to one of the world’s most critical supply regions. Even without full-scale escalation, periodic flare-ups in the region have been enough to push prices higher, tighten insurance costs, and amplify risk premiums across global crude benchmarks.The result is a market that is not short of oil, but short of certainty. Diesel remains the tightest segment, particularly in Europe, where inventories are thin, and price swings remain sharp whenever supply fears emerge.Also read | <a href="https://www.wionews.com/world/inside-the-500-000-mobility-target-why-japan-wants-50-000-indian-workers-japan-workers-shortage-1783077430875">Inside the 500,000 mobility target: Why Japan wants 50,000 Indian workers</a><h2>Food markets under persistent pressure</h2>While there were initial fears of food shortages, the concerns have faded. However, the markets have not returned to normal. Both Russia and Ukraine hold a significant share in global wheat and sunflower oil exports. Moscow is also a key player in fertiliser supply.However, since the Black Sea trade route was disrupted in 2022, exports have been rerouted through longer and more expensive channels. While the war has not resulted in a shortage of food supplies, it has pushed prices way up due to longer shipping time, higher insurance costs, and thin margins across the board. In India, the rising cost of fertilisers has affected the agriculture industry.<h2>Defence spending</h2>Due to the Russia-Ukraine war, military budgets have not just increased – they have undergone a major shift. NATO countries have expanded their spending and rebuilt ammunition stocks. They have also accelerated procurement of drones, missile systems and air defence networks.What is different this time is persistence. Defence spending is no longer reacting to a single war. It is responding to the expectation that instability is now a feature of the system, not an interruption.The Iran war further reinforced this trend beyond Europe, pushing regional governments to increase readiness and procurement cycles.Also read | <a href="https://www.wionews.com/india-news/as-global-supply-chains-shift-can-india-become-the-next-manufacturing-hub-1783159714059">As global supply chains shift, can India become the next manufacturing hub?</a><h2>India: Balancing energy gains and risks</h2>India has benefited from discounted Russian crude, with imports from Russia rising sharply since 2022 and helping to stabilise fuel prices. But that advantage sits alongside exposure to sanctions risk and supply chain uncertainty.The Middle East adds another dimension, given India’s heavy reliance on the region for energy imports and shipping routes. Any escalation there directly affects freight costs, insurance premiums and supply security.On defence, dependence on Russian-origin systems continues even as India pushes diversification and domestic production. Spare parts and long-term maintenance remain key pressure points. India’s challenge is no longer just balancing partners. It is managing exposure across multiple conflict zones at once, in a global system where instability has become overlapping rather than isolated.Watch | Russia-Ukraine War: Zelensky, Putin Hold Separate Calls With Trump on Ukraine War<a href="https://www.wionews.com/videos/russia-ukraine-war-zelensky-putin-hold-separate-calls-with-trump-on-ukraine-war-1783306630844/embed">https://www.wionews.com/videos/russia-ukraine-war-zelensky-putin-hold-separate-calls-with-trump-on-ukraine-war-1783306630844/embed</a>&nbsp;

Russia-Ukraine war is reshaping energy, food, defence and trade systems, while India balances energy security, supply risks and strategic autonomy in a volatile geopolitical environment. Here’s what you need to know.

The Russia-Ukraine war began in February 2022 and has been going on ever since for over four years now. Moscow launched a full-scale invasion of Ukraine, triggering the deadliest war in Europe since World War II. The conflict has not just increased tensions in the region, but also affected supply chains across the world. With no sign of a resolution of the conflict in the near future, the world has been forced to adapt to the shifts it brought to global energy markets, food security, and defence spending. Energy markets on edge The war has pushed the energy markets to the edge given Russia’s dominance over global crude oil exports. The sanctions and repeated strikes on its refineries have significantly changed the flow of supply in ways that are still playing out. Through 2025 and 2026, Ukrainian attacks on Russian energy infrastructure have intensified, at times cutting refinery output and tightening fuel availability inside Russia itself. In an unusual event, Russia even had to import refined fuels, including shipments from India. At the same time, tensions in the Middle East have kept traders on alert over potential disruptions to one of the world’s most critical supply regions. Even without full-scale escalation, periodic flare-ups in the region have been enough to push prices higher, tighten insurance costs, and amplify risk premiums across global crude benchmarks. The result is a market that is not short of oil, but short of certainty. Diesel remains the tightest segment, particularly in Europe, where inventories are thin, and price swings remain sharp whenever supply fears emerge. Also read | Inside the 500,000 mobility target: Why Japan wants 50,000 Indian workers Food markets under persistent pressure While there were initial fears of food shortages, the concerns have faded. However, the markets have not returned to normal. Both Russia and Ukraine hold a significant share in global wheat and sunflower oil exports. Moscow is also a key player in fertiliser supply. However, since the Black Sea trade route was disrupted in 2022, exports have been rerouted through longer and more expensive channels. While the war has not resulted in a shortage of food supplies, it has pushed prices way up due to longer shipping time, higher insurance costs, and thin margins across the board. In India, the rising cost of fertilisers has affected the agriculture industry. Defence spending Due to the Russia-Ukraine war, military budgets have not just increased – they have undergone a major shift. NATO countries have expanded their spending and rebuilt ammunition stocks. They have also accelerated procurement of drones, missile systems and air defence networks. What is different this time is persistence. Defence spending is no longer reacting to a single war. It is responding to the expectation that instability is now a feature of the system, not an interruption. The Iran war further reinforced this trend beyond Europe, pushing regional governments to increase readiness and procurement cycles. Also read | As global supply chains shift, can India become the next manufacturing hub? India: Balancing energy gains and risks India has benefited from discounted Russian crude, with imports from Russia rising sharply since 2022 and helping to stabilise fuel prices. But that advantage sits alongside exposure to sanctions risk and supply chain uncertainty. The Middle East adds another dimension, given India’s heavy reliance on the region for energy imports and shipping routes. Any escalation there directly affects freight costs, insurance premiums and supply security. On defence, dependence on Russian-origin systems continues even as India pushes diversification and domestic production. Spare parts and long-term maintenance remain key pressure points. India’s challenge is no longer just balancing partners. It is managing exposure across multiple conflict zones at once, in a global system where instability has become overlapping rather than isolated. Watch | Russia-Ukraine War: Zelensky, Putin Hold Separate Calls With Trump on Ukraine War https://www.wionews.com/videos/russia-ukraine-war-zelensky-putin-hold-separate-calls-with-trump-on-ukraine-war-1783306630844/embed

Russia-Ukraine war is reshaping energy, food, defence and trade systems, while India balances energy security, supply risks and strategic autonomy in a volatile geopolitical environment. Here’s what you need to know.

How Russia-Ukraine war is reshaping energy flows, food prices, defence spending and India’s strategy | WION Decodes

The European Union is now considering putting its own sanctions mechanism on pause, and the reason is the surge in oil prices due to the war in West Asia. According to a Bloomberg report, Brussels is weighing a temporary freeze on its price cap on russian oil.


Iran Crisis Forces EU Rethink on Russian Oil Caps

The United Kingdom has adjusted its sanctions policy to allow diesel and jet fuel derived from russian crude oil to enter the UK, provided it is refined in third countries. The move comes amid concerns over global fuel shortages, rising energy prices and supply disruptions. It also highlights how complex global oil trade routes can affect the effectiveness of sanctions on Russia.


UK Relaxes Part of Russia Oil Sanctions Amid Global Energy Pressure

Despite sanctions on Moscow, Russian crude oil is reportedly continuing to enter the UK through indirect trade routes, raising fresh questions over enforcement loopholes and global energy supply chains. Reports suggest refined petroleum products processed in third countries are making their way into British markets, effectively allowing Russian-origin oil to bypass restrictions.


UK Lets Russian Oil In Through the Back Door; Russian Crude Finds A New Route

India will continue to purchase Russian crude oil and Liquefied Petroleum Gas (LPG) following the expiration of the 30-day sanction waiver from the US on April 11, 2026. According to a Mint report, which cites unnamed official sources, India's energy import strategy is a sovereign decision and does not depend on US sanctions. While the US has decided not to renew the sanctions waiver, Indian refineries plan to continue with their previous procurement policy of sourcing energy from non-sanction entities and vehicles.The 30-day sanction waiver for purchasing Iranian oil is also coming to an end. The US Treasury Department, in a social media post on the platform X, announced that it will be moving with “economic fury". It also announced that the administration is considering further secondary sanctions against any country that is considering support for Iran's activities. However, it did not specify Russian oil and quietly allowed it to expire.&nbsp;The official cited by Mint suggests that the sanction waiver is a US prerogative and does not determine India's import strategy. “Efforts are on for further LPG purchases from Russia. Also, import of both crude and LPG is likely to continue from non-sanctioned entities,” said the official as quoted by Mint.Also Read: <a href="https://www.wionews.com/world/iran-strait-of-hormuz-oman-safe-passage-oil-crisis-1776346305818">Iran proposes safe passage via Oman side of Strait of Hormuz</a><h2>What is the current status of Russian oil?</h2>According to the Mint report, Indian refineries are already renegotiating future cargoes after securing 800,000 tonnes of LPG supplies from Australia, Russia and the US. According to global energy and maritime intelligence firms, most notably Kpler and Vortexa, in March 2026, imports from Russia averaged 1.98–2.06 million barrels per day, the highest level since mid-2023. Russian crude accounted for 35.9 per cent of India’s total crude imports in 2023-24 and 35.8 per cent in 2024-25. India was the second-largest buyer of Russian fossil fuels in March after China, importing Russian hydrocarbons worth 5.8 billion euros.However, the Indian official maintains that the number of Russian shipments contracted remains limited and is yet to reach India. “Even now, the quantum of import (from Russia) tied up is not very significant, and talks are on for more LPG supplies,” said the official to Mint.&nbsp;“The biggest shift was in state-owned refineries’ imports from Russia, which saw a massive 148% increase, presumably due to Russian barrels being more available in the spot market, which serves as their primary source of imports,” reported Mint, citing a Crea report.<h2>What are the major sources of Indian energy as the West Asia conflict continues?</h2>In this scenario, India plans to continue to buy energy, particularly LPG, from every possible source. “The US will be the primary source for LPG till West Asia supplies don't pick up. And regarding crude, the waiver did help, but imports from clean, non-sanctioned entities will continue as was the case earlier,” said an executive at an oil refining company.&nbsp;The Indian government has maintained that it sources energy from multiple sources based on commercial viability. “We have been buying oil from diversified sources,” said EAM spokesperson Randhir Jaiswal, as cited by the Mint. Indian Petroleum Secretrary Neeraj Mittal said that India procures crude from 41 countries compared with 27 earlier. LNG imports currently come from 30 countries compared to six previously, while LPG is sourced from 16 countries compared to 10 earlier.&nbsp;&nbsp;<h2>&nbsp;</h2>

India will continue importing Russian crude and LPG despite the end of the US sanctions waiver, citing energy security, sovreignity and diversified sourcing strategy.

India will continue to purchase Russian crude oil and Liquefied Petroleum Gas (LPG) following the expiration of the 30-day sanction waiver from the US on April 11, 2026. According to a Mint report, which cites unnamed official sources, India's energy import strategy is a sovereign decision and does not depend on US sanctions. While the US has decided not to renew the sanctions waiver, Indian refineries plan to continue with their previous procurement policy of sourcing energy from non-sanction entities and vehicles. The 30-day sanction waiver for purchasing Iranian oil is also coming to an end. The US Treasury Department, in a social media post on the platform X, announced that it will be moving with “economic fury". It also announced that the administration is considering further secondary sanctions against any country that is considering support for Iran's activities. However, it did not specify Russian oil and quietly allowed it to expire. The official cited by Mint suggests that the sanction waiver is a US prerogative and does not determine India's import strategy. “Efforts are on for further LPG purchases from Russia. Also, import of both crude and LPG is likely to continue from non-sanctioned entities,” said the official as quoted by Mint. Also Read: Iran proposes safe passage via Oman side of Strait of Hormuz What is the current status of Russian oil? According to the Mint report, Indian refineries are already renegotiating future cargoes after securing 800,000 tonnes of LPG supplies from Australia, Russia and the US. According to global energy and maritime intelligence firms, most notably Kpler and Vortexa, in March 2026, imports from Russia averaged 1.98–2.06 million barrels per day, the highest level since mid-2023. Russian crude accounted for 35.9 per cent of India’s total crude imports in 2023-24 and 35.8 per cent in 2024-25. India was the second-largest buyer of Russian fossil fuels in March after China, importing Russian hydrocarbons worth 5.8 billion euros. However, the Indian official maintains that the number of Russian shipments contracted remains limited and is yet to reach India. “Even now, the quantum of import (from Russia) tied up is not very significant, and talks are on for more LPG supplies,” said the official to Mint. “The biggest shift was in state-owned refineries’ imports from Russia, which saw a massive 148% increase, presumably due to Russian barrels being more available in the spot market, which serves as their primary source of imports,” reported Mint, citing a Crea report. What are the major sources of Indian energy as the West Asia conflict continues? In this scenario, India plans to continue to buy energy, particularly LPG, from every possible source. “The US will be the primary source for LPG till West Asia supplies don't pick up. And regarding crude, the waiver did help, but imports from clean, non-sanctioned entities will continue as was the case earlier,” said an executive at an oil refining company. The Indian government has maintained that it sources energy from multiple sources based on commercial viability. “We have been buying oil from diversified sources,” said EAM spokesperson Randhir Jaiswal, as cited by the Mint. Indian Petroleum Secretrary Neeraj Mittal said that India procures crude from 41 countries compared with 27 earlier. LNG imports currently come from 30 countries compared to six previously, while LPG is sourced from 16 countries compared to 10 earlier.

India will continue importing Russian crude and LPG despite the end of the US sanctions waiver, citing energy security, sovereignty and diversified sourcing strategy.

India to continue buying Russian oil after US sanctions waiver ends

US Treasury Secretary Scott Bessent on Wednesday (April 15) announced that Washington will not renew the sanctions waivers allowed to several countries on purchase of Russian and Iranian oil. The waiver that was temporary will now attract US penalties.&nbsp;“We will not be ‌renewing the general license (sanctions waiver) on Russian oil, and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11. So all that has been used,” Bessent said at a White House briefing.&nbsp;Treasury Secretary further threatened saying, "We have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions."&nbsp;ALSO READ: <a href="https://www.wionews.com/india-news/pm-modi-lok-sabha-womens-reservation-bill-speech-1776332699278">'Not political, it's in national interest': PM Modi on Women's Reservation Bill in Lok Sabha</a>&nbsp;These waivers were aimed to allow more barrels of oil to reach the international market in the wake of disrupted global oil supply chains due to Iran blocking the Strait of Hormuz, since the war began on February 28 with a combined (US, Israel) airstrike on Iran.&nbsp;This is going to hurt many countries, including India that is heavily dependent on Russial and Iranian crude oil.<h2>How will the move impact India?</h2>&nbsp;<ul><li>India is one of the largest importers of crude oil</li><li>Maximum amount of its oil comes from Russia and Iran</li><li>However, due to US sanctions Iranian oil has remained off limits for a while</li><li>India depends on imports to meet over 88% of its requirement</li><li>Other than Russia, West Asia is the only alternative for India to meet its demands</li></ul>However, in reality not all Russian oil is sanctioned by Washington; only a few companies face these restrictions. So, as reported Indian refiners can continue to buy Russian crude as long as no company, vessel, bank, or service provider is in some way or the other sanctioned by the US&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

These waivers were aimed to allow more barrels of oil to reach the international market in the wake of disrupted global oil supply chains due to Iran blocking the Strait of Hormuz.

US Treasury Secretary Scott Bessent on Wednesday (April 15) announced that Washington will not renew the sanctions waivers allowed to several countries on purchase of Russian and Iranian oil. The waiver that was temporary will now attract US penalties. “We will not be ‌renewing the general license (sanctions waiver) on Russian oil, and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11. So all that has been used,” Bessent said at a White House briefing. Treasury Secretary further threatened saying, "We have told countries that if you are buying Iranian oil, that if Iranian money is sitting in your banks, we are now willing to apply secondary sanctions." ALSO READ: 'Not political, it's in national interest': PM Modi on Women's Reservation Bill in Lok Sabha These waivers were aimed to allow more barrels of oil to reach the international market in the wake of disrupted global oil supply chains due to Iran blocking the Strait of Hormuz, since the war began on February 28 with a combined (US, Israel) airstrike on Iran. This is going to hurt many countries, including India that is heavily dependent on Russial and Iranian crude oil. How will the move impact India? India is one of the largest importers of crude oil Maximum amount of its oil comes from Russia and Iran However, due to US sanctions Iranian oil has remained off limits for a while India depends on imports to meet over 88% of its requirement Other than Russia, West Asia is the only alternative for India to meet its demands However, in reality not all Russian oil is sanctioned by Washington; only a few companies face these restrictions. So, as reported Indian refiners can continue to buy Russian crude as long as no company, vessel, bank, or service provider is in some way or the other sanctioned by the US

These waivers were aimed to allow more barrels of oil to reach the international market in the wake of disrupted global oil supply chains due to Iran blocking the Strait of Hormuz.

US ends waivers on Russian, Iranian oil, here's how it will impact India

India has aggressively increased Russian oil purchases in March 2026. The country bought roughly 30 million barrels of oil from Moscow following West Asia disruptions caused by the US-Iran war. That comes after a temporary US waiver.


Hormuz Crisis Drives India to Binge on Russian Oil

In a significant move amid the Iran war and rising energy prices, former President Donald Trump has temporarily lifted curbs on Russian oil exports, allowing shipments to reach global markets. The decision comes as oil prices surged due to disruptions in the Strait of Hormuz and heightened geopolitical tensions in the Middle East.

U.S. Eases Russian Oil Sanctions as Iran Conflict Hits Oil Prices

In a major development amid the US-Iran conflict and global energy tensions, the United States has issued a 30-day temporary waiver allowing the sale of stranded Russian oil. The waiver applies to crude and petroleum products loaded onto tankers before March 12, providing a legal window for their delivery despite existing sanctions. This move aims to stabilize global energy markets impacted by military escalation and sanctions, while signaling the U.S. as a “problem solver” in the energy supply chain.

U.S. Temporarily Allows Sale of Russian Oil Amid Energy Market Chaos

After over a year of mounting rhetoric about “funding Putin's war” and imposing tariffs on countries purchasing Russian oil, US President Donald Trump on Tuesday (Mar 10) took a U-turn on Moscow's energy exports, stating that Washington will waive some sanctions to boost supply and bring down prices due to upheaval in the global energy market caused by the war in West Asia.&nbsp;This move came as the war in West Asia entered its 11th day, causing upheaval in energy markets across the world as global oil prices jumped above $100 per barrel for the first time since the start of the Russia-Ukraine war in 2022, marking more than a 50 per cent increase since the start of joint US-Israeli military strikes in Iran on February 28, which resulted in the killing of Supreme Leader Ayatollah Ali Khamenei on the first day of the campaign.&nbsp;“We're also waiving certain oil-related sanctions to reduce prices,” Trump told reporters after talks with Russian President Vladimir Putin, adding that, “We're going to take those sanctions off till this straightens out.”&nbsp;The Trump administration also took a U-turn on India after subjecting it to 25 per cent additional tariffs for months over the purchase of Russian oil. However, following the US-Israeli strikes on Iran, Washington urged New Delhi to ramp up imports from Moscow to stabilise global energy prices.&nbsp;In retaliation, Iran targeted US military bases and strategic locations across Gulf nations, including Qatar, the UAE, Saudi Arabia, and Oman, leading to disruptions across the region. Moreover, Tehran has effectively halted shipping through the Strait of Hormuz, a vital artery for about 20 per cent of the world’s oil supply. In response, major producers such as Iraq, Kuwait, and the UAE have been forced to cut production as their storage tanks reach capacity with limited export routes.&nbsp;Also Read: <a href="https://www.wionews.com/world/could-the-iran-war-s-oil-shock-trigger-a-recession-in-the-us-economy-1773151431599">Could the Iran war’s oil shock trigger a recession in the US economy?</a>&nbsp; Trump's decision has again put European allies at odds with the US after the Greenland dispute. The European Union, which is facing soaring energy prices due to the Iran war, opposed Donald Trump's decision to remove sanctions on Russian oil. The bloc has been under pressure from high energy prices since the start of the Russia-Ukraine war in 2022.“We must continue to exert maximum pressure on Russia,” EU economy chief Valdis Dombrovskis said, warning that easing restrictions would “reinforce Russia's capacity to wage war, undermining Ukraine”.&nbsp;(Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

The Trump administration also took a U-turn on India after subjecting it to 25 per cent additional tariffs for months over the purchase of Russian oil.

After over a year of mounting rhetoric about “funding Putin's war” and imposing tariffs on countries purchasing Russian oil, US President Donald Trump on Tuesday (Mar 10) took a U-turn on Moscow's energy exports, stating that Washington will waive some sanctions to boost supply and bring down prices due to upheaval in the global energy market caused by the war in West Asia. This move came as the war in West Asia entered its 11th day, causing upheaval in energy markets across the world as global oil prices jumped above $100 per barrel for the first time since the start of the Russia-Ukraine war in 2022, marking more than a 50 per cent increase since the start of joint US-Israeli military strikes in Iran on February 28, which resulted in the killing of Supreme Leader Ayatollah Ali Khamenei on the first day of the campaign. “We're also waiving certain oil-related sanctions to reduce prices,” Trump told reporters after talks with Russian President Vladimir Putin, adding that, “We're going to take those sanctions off till this straightens out.” The Trump administration also took a U-turn on India after subjecting it to 25 per cent additional tariffs for months over the purchase of Russian oil. However, following the US-Israeli strikes on Iran, Washington urged New Delhi to ramp up imports from Moscow to stabilise global energy prices. In retaliation, Iran targeted US military bases and strategic locations across Gulf nations, including Qatar, the UAE, Saudi Arabia, and Oman, leading to disruptions across the region. Moreover, Tehran has effectively halted shipping through the Strait of Hormuz, a vital artery for about 20 per cent of the world’s oil supply. In response, major producers such as Iraq, Kuwait, and the UAE have been forced to cut production as their storage tanks reach capacity with limited export routes. Also Read: Could the Iran war’s oil shock trigger a recession in the US economy? Trump's decision has again put European allies at odds with the US after the Greenland dispute. The European Union, which is facing soaring energy prices due to the Iran war, opposed Donald Trump's decision to remove sanctions on Russian oil. The bloc has been under pressure from high energy prices since the start of the Russia-Ukraine war in 2022. “We must continue to exert maximum pressure on Russia,” EU economy chief Valdis Dombrovskis said, warning that easing restrictions would “reinforce Russia's capacity to wage war, undermining Ukraine”. (Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

The Trump administration also took a U-turn on India after subjecting it to 25 per cent additional tariffs for months over the purchase of Russian oil.

Trump’s U-turn on Russian oil deepens rift between US and European allies

India has received a 30-day waiver from the United States allowing continued imports of Russian oil amid global sanctions. The waiver provides India strategic flexibility in energy sourcing while navigating international pressure. Analysts see this as a significant move in India-U.S.-Russia energy diplomacy.

India-U.S.-Russia energy diplomacy: India Granted 30-Day U.S. Waiver on Russian Oil 

The United States has granted a temporary waiver allowing stranded Russian oil shipments to be delivered to India, amid ongoing sanctions on Moscow’s energy exports.


US Issues Temporary Waiver on Russian Oil | Waiver Only for Russian Shipments Stranded at Sea

Amid the escalating US‑Israel military campaign against Iran that has disrupted global oil flows, the United States Treasury has issued a temporary 30‑day waiver allowing Indian refiners to purchase Russian crude oil that is stranded at sea.


US-Iran War: Waiver Only for Russian Shipments Stranded at Sea

US-Iran War: India Gets 30-Day US Waiver on Russian Oil

US Treasury Secretary Scott Bessent on Thursday (Mar 5) announced a 30-day waiver allowing Indian refiners to purchase Russian oil as energy supplies are hit amid the war in West Asia. The temporary measure will enable oil to keep flowing into the global market as the war between the US-Israel and Iran spreads across the region, disrupting global oil supply.“President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded,” Bessent said in a statement on X.&nbsp;The treasury secretary added that the short-term move is unlikely to deliver major financial gains to the Russian government, as it only permits transactions related to oil cargoes that are already stranded at sea.“To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea,” Bessent added.Bessent affirmed India as an “essential partner” of the United States, noting that US President Donald Trump’s administration “fully anticipates” that New Delhi will ramp up its oil purchases from the US.&nbsp;“This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” he said.Earlier, the Trump administration had pushed India to stop purchasing Russian oil, saying that by doing so, New Delhi is funding Moscow’s war in Ukraine. However, the US and Israeli military operations in Iran have struck the global supply of oil from West Asia, as the conflict widens across the region.This comes after the US and Israeli military launched strikes on Iran on Saturday (Feb 28), killing Iran’s supreme leader Ali Khamenei and several other top Iranian officials. The operation was named ‘Epic Fury’ by the US and ‘Lion’s Roar’ by Israel. The attacks came amid heightened tensions between Washington and Tehran and ongoing talks over Iran’s nuclear program. In retaliation, Iran launched attacks on Israel and US military bases in the region, including in Bahrain, Kuwait, the UAE, Qatar, Saudi Arabia, and Jordan. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

US Treasury Secretary Scott Bessent announced a 30-day waiver allowing Indian refiners to buy stranded Russian oil to stabilise global supply amid the US-Israel–Iran war, saying it won’t significantly benefit Russia.

US Treasury Secretary Scott Bessent on Thursday (Mar 5) announced a 30-day waiver allowing Indian refiners to purchase Russian oil as energy supplies are hit amid the war in West Asia. The temporary measure will enable oil to keep flowing into the global market as the war between the US-Israel and Iran spreads across the region, disrupting global oil supply. “President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded,” Bessent said in a statement on X. The treasury secretary added that the short-term move is unlikely to deliver major financial gains to the Russian government, as it only permits transactions related to oil cargoes that are already stranded at sea. “To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea,” Bessent added. Bessent affirmed India as an “essential partner” of the United States, noting that US President Donald Trump’s administration “fully anticipates” that New Delhi will ramp up its oil purchases from the US. “This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” he said. Earlier, the Trump administration had pushed India to stop purchasing Russian oil, saying that by doing so, New Delhi is funding Moscow’s war in Ukraine. However, the US and Israeli military operations in Iran have struck the global supply of oil from West Asia, as the conflict widens across the region. This comes after the US and Israeli military launched strikes on Iran on Saturday (Feb 28), killing Iran’s supreme leader Ali Khamenei and several other top Iranian officials. The operation was named ‘Epic Fury’ by the US and ‘Lion’s Roar’ by Israel. The attacks came amid heightened tensions between Washington and Tehran and ongoing talks over Iran’s nuclear program. In retaliation, Iran launched attacks on Israel and US military bases in the region, including in Bahrain, Kuwait, the UAE, Qatar, Saudi Arabia, and Jordan. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

US Treasury Secretary Scott Bessent announced a 30-day waiver allowing Indian refiners to buy stranded Russian oil to stabilise global supply amid the US-Israel–Iran war, saying it won’t significantly benefit Russia.

US making a U-turn? India gets 30-day waiver to purchase Russian oil amid Iran war

Russian oil exports may have dipped over the past year, but shipments remain higher than they were before Moscow launched its full-scale invasion of Ukraine in 2022, according to a new report released Tuesday (Feb 23). As per the report, of this, about 93 per cent of crude was exported to China, India, and Turkey.<h2>Russia's oil export continues unabashed</h2>An analysis by the Centre for Research on Energy and Clean Air, a Finnish think tank, found that crude export volumes in the fourth year of the war were still about six per cent above pre-invasion levels. That is despite multiple rounds of Western sanctions aimed at squeezing Russia's energy income and targeting its so-called 'shadow fleet'.Also read | <a href="https://www.wionews.com/india-news/what-happens-to-india-s-18-tariff-after-scotus-scraps-trump-reciprocal-duties-here-s-what-the-potus-said-nothing-happens-1771648834475">Will India still pay 18% tariffs after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said</a>The shadow fleet refers to older tankers with murky ownership structures that are used to move oil outside the formal system, often bypassing European Union, US and G7 restrictions.<h2>Russia crude revenue falls</h2>According to AFP, even as the crude export volumes stayed relatively strong, compared with the previous year, the warring nation's earnings from crude exports fell 18 per cent to 85.5 billion euros in the 12 months leading up to February 24.Export volumes during the same period dropped six per cent to 215 million tonnes. However, China, India and Turkey accounted for 93 per cent of Russian crude exports during the period studied, the report said.Also read | <a href="https://www.wionews.com/world/moscow-rejects-us-claim-india-will-ditch-russian-oil-says-trump-trying-to-grab-right-to-dictate-to-independent-nations-1771464523183">Moscow blasts US claim India will ditch Russian oil, says Trump trying to 'grab right to dictate to independent nations'</a>Russia has been forced to offer discounts on its oil, cutting into profits that help finance the war effort."We've seen a significant drop in Russian fossil fuel export earnings as a result of new measures and greater enforcement," said Isaac Levi, a CREA analyst and co-author of the study. But he added that "there are still significant loopholes and areas that have been unaddressed by sanctioning countries" that allow large volumes to flow.Among the weaknesses identified are ships operating under false flags and the re-export of refined fuels made from Russian crude to countries that have imposed sanctions.CREA is urging tougher steps. "We propose a ban of imports from any refinery or storage terminal that has received a shipment of Russian oil in the previous six months," Levi said. &nbsp;

A new report by the Centre for Research on Energy and Clean Air says Russia’s crude exports remain about 6 per cent above pre-2022 invasion levels, with 93 per cent going to China, India and Turkey.

Russian oil exports may have dipped over the past year, but shipments remain higher than they were before Moscow launched its full-scale invasion of Ukraine in 2022, according to a new report released Tuesday (Feb 23). As per the report, of this, about 93 per cent of crude was exported to China, India, and Turkey. Russia's oil export continues unabashed An analysis by the Centre for Research on Energy and Clean Air, a Finnish think tank, found that crude export volumes in the fourth year of the war were still about six per cent above pre-invasion levels. That is despite multiple rounds of Western sanctions aimed at squeezing Russia's energy income and targeting its so-called 'shadow fleet'. Also read | Will India still pay 18% tariffs after SCOTUS scraps Trump reciprocal duties? Here’s what the POTUS said The shadow fleet refers to older tankers with murky ownership structures that are used to move oil outside the formal system, often bypassing European Union, US and G7 restrictions. Russia crude revenue falls According to AFP, even as the crude export volumes stayed relatively strong, compared with the previous year, the warring nation's earnings from crude exports fell 18 per cent to 85.5 billion euros in the 12 months leading up to February 24. Export volumes during the same period dropped six per cent to 215 million tonnes. However, China, India and Turkey accounted for 93 per cent of Russian crude exports during the period studied, the report said. Also read | Moscow blasts US claim India will ditch Russian oil, says Trump trying to 'grab right to dictate to independent nations' Russia has been forced to offer discounts on its oil, cutting into profits that help finance the war effort. "We've seen a significant drop in Russian fossil fuel export earnings as a result of new measures and greater enforcement," said Isaac Levi, a CREA analyst and co-author of the study. But he added that "there are still significant loopholes and areas that have been unaddressed by sanctioning countries" that allow large volumes to flow. Among the weaknesses identified are ships operating under false flags and the re-export of refined fuels made from Russian crude to countries that have imposed sanctions. CREA is urging tougher steps. "We propose a ban of imports from any refinery or storage terminal that has received a shipment of Russian oil in the previous six months," Levi said.

A new report by the Centre for Research on Energy and Clean Air says Russia’s crude exports remain about 6 per cent above pre-2022 invasion levels, with 93 per cent going to China, India and Turkey.

India remains key buyer of Russian oil as Moscow's crude exports stay above pre-Ukraine war levels: Report

Russian oil shipments are piling up at sea as diplomatic pressures and sanctions complicate Moscow’s search for buyers. Tankers loaded with crude are facing delays, while global markets react to tightening restrictions and shifting trade alliances.

Russian Oil Piles Up at Sea: Diplomatic Pressures Complicate Russia’s Search for Oil Buyers

India on Saturday (Feb 07) clarified its stand on the purchase of Russian oil, saying that safeguarding the country's energy needs is the top priority for New Delhi. The statement comes after the United States revoked the punitive 25 per cent tariffs levied on New Delhi over its oil trade with Moscow as part of the recently concluded India-US bilateral trade agreement.&nbsp;"Regarding India's energy sourcing, the government has stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government," the Ministry of External Affairs spokesperson Randhir Jaiswal said.&nbsp;The MEA specified that diversifying energy sourcing in line with objective market conditions and evolving international dynamics remains central to India's strategy to ensure energy security for its population.&nbsp;It further underscored that the decisions taken by India's energy sector are guided by this overarching principle.&nbsp;"Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this," Jaiswal said, adding that "All of India's actions are taken and will be taken with this in mind."&nbsp;Also Read: <a href="https://www.wionews.com/world/us-sets-june-deadline-for-ukraine-and-russia-to-end-war-says-zelensky-1770467368962">US sets June deadline for Ukraine and Russia to end war, says Zelensky</a>&nbsp;The MEA spokesperson's remark came after a statement from the White House stated that India has "committed to stop directly or indirectly importing" oil from Russia, as per the framework of the bilateral trade agreement between the two countries.&nbsp;Earlier in the day, Union Minister Piyush Goyal described the announcement of the interim framework of the India-US trade agreement on Saturday as "the day etched in golden letter." He stated that the $30 trillion US economy will be open to Indian exporters, with the lowest tariffs compared to neighbouring countries. At the same time, several sectors, such as gems and pharmaceuticals, are exempt from tariffs. "A $30 trillion economy is now open to our exporters. This joint statement gives every Indian citizen an opportunity for new hope, enthusiasm, and new resolutions. The 50 per cent tariff that Indian exporters faced will now be only 18 per cent. We will have the lowest tariffs compared to our neighbouring countries. Exporters of gems and pharmaceuticals will face zero duty in the US," he said.

The MEA said that diversifying energy sources, in line with market realities and evolving international dynamics, remains central to India’s strategy to ensure energy security for its 1.4 billion people.

India on Saturday (Feb 07) clarified its stand on the purchase of Russian oil, saying that safeguarding the country's energy needs is the top priority for New Delhi. The statement comes after the United States revoked the punitive 25 per cent tariffs levied on New Delhi over its oil trade with Moscow as part of the recently concluded India-US bilateral trade agreement. "Regarding India's energy sourcing, the government has stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians is the supreme priority of the government," the Ministry of External Affairs spokesperson Randhir Jaiswal said. The MEA specified that diversifying energy sourcing in line with objective market conditions and evolving international dynamics remains central to India's strategy to ensure energy security for its population. It further underscored that the decisions taken by India's energy sector are guided by this overarching principle. "Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this," Jaiswal said, adding that "All of India's actions are taken and will be taken with this in mind." Also Read: US sets June deadline for Ukraine and Russia to end war, says Zelensky The MEA spokesperson's remark came after a statement from the White House stated that India has "committed to stop directly or indirectly importing" oil from Russia, as per the framework of the bilateral trade agreement between the two countries. Earlier in the day, Union Minister Piyush Goyal described the announcement of the interim framework of the India-US trade agreement on Saturday as "the day etched in golden letter." He stated that the $30 trillion US economy will be open to Indian exporters, with the lowest tariffs compared to neighbouring countries. At the same time, several sectors, such as gems and pharmaceuticals, are exempt from tariffs. "A $30 trillion economy is now open to our exporters. This joint statement gives every Indian citizen an opportunity for new hope, enthusiasm, and new resolutions. The 50 per cent tariff that Indian exporters faced will now be only 18 per cent. We will have the lowest tariffs compared to our neighbouring countries. Exporters of gems and pharmaceuticals will face zero duty in the US," he said.

The MEA said that diversifying energy sources, in line with market realities and evolving international dynamics, remains central to India’s strategy to ensure energy security for its 1.4 billion people.

India on Russian oil imports: Diversification central to energy security for 1.4 bn citizens

United States President Donald Trump on Friday (Feb 6) initiated the first concrete step toward implementing a newly announced trade understanding with India, lifting the 25 per cent tariff he imposed for New Delhi's purchase of Russian oil. Trump signed an executive order to remove the additional 25 per cent tariff on Indian goods. The move comes after months of trade friction between the two countries.<h2>India to stop buying Russian oil?</h2>According to the executive order signed Friday, "India has committed to stop directly or indirectly importing Russian Federation oil".Also read | <a href="https://www.wionews.com/world/russian-oil-out-trump-claims-india-ready-to-buy-seized-venezuelan-oil-from-us-1769920129675">Russian oil out? Trump claims India ready to buy seized Venezuelan oil from US</a>It adds that New Delhi intends to significantly expand purchases of American products, "and has recently committed to a framework with the United States to expand defence cooperation over the next 10&nbsp;years."<h2>When will the tariff relief be implemented?</h2>The tariff relief took effect at 12:01 am Eastern Time on Saturday (Feb 7), easing pressure on Indian exporters who had been facing elevated duties in the American market.The move follows Trump’s announcement earlier this week of a broader trade deal with India, which aims to reset economic ties strained by disagreements over India’s continued purchases of Russian crude during the Ukraine war.Beyond the immediate tariff rollback, the agreement will also see the United States reduce so-called reciprocal tariffs on Indian goods to 18 per cent from the earlier 25 per cent level, though the timeline for implementing that reduction has not yet been finalised.Also read | <a href="https://www.wionews.com/india-news/how-safe-is-the-rupee-from-trump-s-tantrums-economic-survey-2025-26-reveals-risks-1769676289934">How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks</a>A joint statement released by the White House said India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years. The agreement also includes provisions to remove tariffs on certain aircraft and aviation parts.The development marks a notable cooling of tensions after US tariffs on Indian goods climbed to as high as 50 per cent late last year. It also goes to restore ties between Trump and Indian Prime Minister Narendra Modi, whom the POTUS has described as "one of my greatest friends."

The United States has lifted the additional 25 per cent tariff on Indian goods after President Donald Trump signed an executive order implementing a new trade understanding with India.

United States President Donald Trump on Friday (Feb 6) initiated the first concrete step toward implementing a newly announced trade understanding with India, lifting the 25 per cent tariff he imposed for New Delhi's purchase of Russian oil. Trump signed an executive order to remove the additional 25 per cent tariff on Indian goods. The move comes after months of trade friction between the two countries. India to stop buying Russian oil? According to the executive order signed Friday, "India has committed to stop directly or indirectly importing Russian Federation oil". Also read | Russian oil out? Trump claims India ready to buy seized Venezuelan oil from US It adds that New Delhi intends to significantly expand purchases of American products, "and has recently committed to a framework with the United States to expand defence cooperation over the next 10 years." When will the tariff relief be implemented? The tariff relief took effect at 12:01 am Eastern Time on Saturday (Feb 7), easing pressure on Indian exporters who had been facing elevated duties in the American market. The move follows Trump’s announcement earlier this week of a broader trade deal with India, which aims to reset economic ties strained by disagreements over India’s continued purchases of Russian crude during the Ukraine war. Beyond the immediate tariff rollback, the agreement will also see the United States reduce so-called reciprocal tariffs on Indian goods to 18 per cent from the earlier 25 per cent level, though the timeline for implementing that reduction has not yet been finalised. Also read | How safe is the rupee from Trump's tantrums? Economic Survey 2025-26 reveals risks A joint statement released by the White House said India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years. The agreement also includes provisions to remove tariffs on certain aircraft and aviation parts. The development marks a notable cooling of tensions after US tariffs on Indian goods climbed to as high as 50 per cent late last year. It also goes to restore ties between Trump and Indian Prime Minister Narendra Modi, whom the POTUS has described as "one of my greatest friends."

The United States has lifted the additional 25 per cent tariff on Indian goods after President Donald Trump signed an executive order implementing a new trade understanding with India.

Trump lifts 25% tariff on India, says New Delhi 'committed to stop directly or indirectly importing Russian Federation oil'

After US President Donald Trump on Monday (Feb 2) announced a new deal with India featuring lower reciprocal tariffs on Indian goods to 18% from 50% for which New Delhi would need to halt purchases of Russian oil and sharply increase imports of American goods, the Ministry of External Affairs (MEA) said on Thursday that India remains open to exploring crude oil supplies from Venezuela and other sources.&nbsp;MEA spokesperson Randhir Jaiswal replying to a question at a press conference held in Delhi said, "There is a history of engagement with Venezuela. We have a long-standing energy partnership with them, ‌and we ‌remain open to exploring options of availability of crude oil from Venezuela and ‌other places, depending on its commercial viability."&nbsp;He clearly said that energy security for its 1.4 billion people would be his government's top priority, especially in the current international dynamics in the energy sector.&nbsp;“In so far as India's energy security or sourcing is confirmed, the government has publicly on several occasions, including me here, that that ensuring the energy security of 1.4 billion is the supreme priority of the government."&nbsp;“Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India's decisions are taken and will be taken with this in mind,” he added further.<h2>India-US trade deal in final stages</h2>&nbsp;Meanwhile, Union minister Piyush Goyal on Thursday said that United States and India have almost finalised the first tranche of a Bilateral Trade Agreement and a joint statement will be made in this regard in the next 4-5 days.&nbsp;“Very meaningful discussions are underway between India and the United States of America. Our two leaders have made a decision. The first tranche of our bilateral trade agreement is almost ready. We hope that in the next four to five days we will finalize and sign a joint statement between the United States and India,” Goyal said.&nbsp;He also said that a formal agreement in this regard will be signed in a month or two.&nbsp;Goyal pointed out that the new tariff of 18% would only be implemented after a joint statement is made by an executive order passed by the United States.&nbsp;&nbsp;&nbsp;&nbsp;

MEA spokesperson Randhir Jaiswal clearly said that energy security for its 1.4 billion people would be his governments top priority, especially in the current international dynamics in the energy sector.

After US President Donald Trump on Monday (Feb 2) announced a new deal with India featuring lower reciprocal tariffs on Indian goods to 18% from 50% for which New Delhi would need to halt purchases of Russian oil and sharply increase imports of American goods, the Ministry of External Affairs (MEA) said on Thursday that India remains open to exploring crude oil supplies from Venezuela and other sources. MEA spokesperson Randhir Jaiswal replying to a question at a press conference held in Delhi said, "There is a history of engagement with Venezuela. We have a long-standing energy partnership with them, ‌and we ‌remain open to exploring options of availability of crude oil from Venezuela and ‌other places, depending on its commercial viability." He clearly said that energy security for its 1.4 billion people would be his government's top priority, especially in the current international dynamics in the energy sector. “In so far as India's energy security or sourcing is confirmed, the government has publicly on several occasions, including me here, that that ensuring the energy security of 1.4 billion is the supreme priority of the government." “Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this. All of India's decisions are taken and will be taken with this in mind,” he added further. India-US trade deal in final stages Meanwhile, Union minister Piyush Goyal on Thursday said that United States and India have almost finalised the first tranche of a Bilateral Trade Agreement and a joint statement will be made in this regard in the next 4-5 days. “Very meaningful discussions are underway between India and the United States of America. Our two leaders have made a decision. The first tranche of our bilateral trade agreement is almost ready. We hope that in the next four to five days we will finalize and sign a joint statement between the United States and India,” Goyal said. He also said that a formal agreement in this regard will be signed in a month or two. Goyal pointed out that the new tariff of 18% would only be implemented after a joint statement is made by an executive order passed by the United States.

MEA spokesperson Randhir Jaiswal clearly said that energy security for its 1.4 billion people would be his government's top priority, especially in the current international dynamics in the energy sector.

India willing to buy oil from Venezuela but energy security priority; trade deal with US in final stages

US Treasury Secretary Scott Bessent has alleged that Europe is financing the “war” against itself by purchasing Russian oil products from India. He accused EU leaders of funding Russia’s war in Ukraine over the crude purchases. He further claimed that the EU has avoided imposing tariffs on India to protect trade negotiations with India, contrasting with tariffs imposed by Washington on New Delhi. This comes as India and the European Union inch closer to signing the historic Free Trade Agreement, which has been described as “mother of all deals”.“We have put 25 per cent tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India. And just to be clear again, the Russian oil goes into India, the refined products come out, and the Europeans buy the refined products. They are financing the war against themselves,” he told ABC News in an interview on Sunday (Jan 25).Bessent’s remarks come ahead of the Free Trade Agreement between India and the European Union, which is set to be announced on January 27. European Commission President Ursula von der Leyen has called the deal the “mother of all trade deals”.Bessent alleged that US President Donald Trump’s administration had taken tougher steps than European governments to pressure Russia to end the war in Ukraine. “Trump has worked to negotiate a settlement on the Russia-Ukraine conflict,” he said, adding that the US has made much bigger sacrifices than the Europeans.The treasury secretary further claimed that tariffs imposed by the Trump administration on India have led to a sharp decline in New Delhi’s Russian oil purchases, adding that the move has led to a “collapse” in Indian refinery purchases.“We put 25 per cent tariffs on India for buying Russian oil, and the Indian purchases by their refineries of Russian oil have collapsed. So that is a success,” Bessent told Politico.“The 25 per cent Russian oil tariffs are still on. I would imagine there is a path to take them off now. So that’s a check and a huge success,” he added.Bessent said that India increased its oil imports from just 2-3 per cent before Russia’s invasion of Ukraine, to 18-19 per cent after the war started, allowing Indian refiners to gain “huge profits.”Last year, the Trump administration doubled the tariffs on India to 50 per cent from 25 per cent, citing New Delhi’s purchase of Russian oil. The move has soured relations between the two countries. Meanwhile, talks are ongoing to reach a trade deal between India and the US.

This comes as India and the European Union inch closer to signing the historic Free Trade Agreement, which has been described as “mother of all deals”.

US Treasury Secretary Scott Bessent has alleged that Europe is financing the “war” against itself by purchasing Russian oil products from India. He accused EU leaders of funding Russia’s war in Ukraine over the crude purchases. He further claimed that the EU has avoided imposing tariffs on India to protect trade negotiations with India, contrasting with tariffs imposed by Washington on New Delhi. This comes as India and the European Union inch closer to signing the historic Free Trade Agreement, which has been described as “mother of all deals”. “We have put 25 per cent tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India. And just to be clear again, the Russian oil goes into India, the refined products come out, and the Europeans buy the refined products. They are financing the war against themselves,” he told ABC News in an interview on Sunday (Jan 25). Bessent’s remarks come ahead of the Free Trade Agreement between India and the European Union, which is set to be announced on January 27. European Commission President Ursula von der Leyen has called the deal the “mother of all trade deals”. Bessent alleged that US President Donald Trump’s administration had taken tougher steps than European governments to pressure Russia to end the war in Ukraine. “Trump has worked to negotiate a settlement on the Russia-Ukraine conflict,” he said, adding that the US has made much bigger sacrifices than the Europeans. The treasury secretary further claimed that tariffs imposed by the Trump administration on India have led to a sharp decline in New Delhi’s Russian oil purchases, adding that the move has led to a “collapse” in Indian refinery purchases. “We put 25 per cent tariffs on India for buying Russian oil, and the Indian purchases by their refineries of Russian oil have collapsed. So that is a success,” Bessent told Politico. “The 25 per cent Russian oil tariffs are still on. I would imagine there is a path to take them off now. So that’s a check and a huge success,” he added. Bessent said that India increased its oil imports from just 2-3 per cent before Russia’s invasion of Ukraine, to 18-19 per cent after the war started, allowing Indian refiners to gain “huge profits.” Last year, the Trump administration doubled the tariffs on India to 50 per cent from 25 per cent, citing New Delhi’s purchase of Russian oil. The move has soured relations between the two countries. Meanwhile, talks are ongoing to reach a trade deal between India and the US.

This comes as India and the European Union inch closer to signing the historic Free Trade Agreement, which has been described as “mother of all deals”.

‘Financing war against itself’: US slams Europe over Russian oil as India-EU trade deal nears

US Republican Senator Lindsey Graham on Wednesday (Jan 7) said Trump has greenlit the bipartisan Russia sanctions and a vote on the same will take place as soon as next week. The sanctions aim at crippling Moscow economically so that it comes to the negotiating table and end the war against Ukraine that it started in 2022.&nbsp;"After a very productive meeting today with President Trump on a variety of issues, he greenlit the bipartisan Russia sanctions bill that I have been working on for months with Senator Blumenthal and many others," said Graham in a post on X.<h2>India, China to face brunt?</h2>"This will be well-timed, as Ukraine is making concessions for peace and Putin is all talk, continuing to kill the innocent," he further added.&nbsp;The sanctions will allow imposition of tariffs and secondary sanctions on countries like India, China and Brazil that purchase Russian oil, gas and uranium among other exports."This bill will allow President Trump to punish those countries who buy cheap Russian oil fueling Putin’s war machine," said Graham.&nbsp;"This bill would give President Trump tremendous leverage against countries like China, India and Brazil to incentivize them to stop buying the cheap Russian oil that provides the financing for Putin’s bloodbath against Ukraine," he added.&nbsp;Trump trying hard to broker a peace deal to end the war between Russia and Ukraine that has been ongoing for over four years. Special envoy Steve Witkoff and Jared Kushner, Trump’s son-in-law, have been assigned to bring an end to the war.&nbsp;

The sanctions will allow imposition of tariffs and secondary sanctions on countries that purchase Russian oil, gas and uranium among other exports.

US Republican Senator Lindsey Graham on Wednesday (Jan 7) said Trump has greenlit the bipartisan Russia sanctions and a vote on the same will take place as soon as next week. The sanctions aim at crippling Moscow economically so that it comes to the negotiating table and end the war against Ukraine that it started in 2022. "After a very productive meeting today with President Trump on a variety of issues, he greenlit the bipartisan Russia sanctions bill that I have been working on for months with Senator Blumenthal and many others," said Graham in a post on X. India, China to face brunt? "This will be well-timed, as Ukraine is making concessions for peace and Putin is all talk, continuing to kill the innocent," he further added. The sanctions will allow imposition of tariffs and secondary sanctions on countries like India, China and Brazil that purchase Russian oil, gas and uranium among other exports. "This bill will allow President Trump to punish those countries who buy cheap Russian oil fueling Putin’s war machine," said Graham. "This bill would give President Trump tremendous leverage against countries like China, India and Brazil to incentivize them to stop buying the cheap Russian oil that provides the financing for Putin’s bloodbath against Ukraine," he added. Trump trying hard to broker a peace deal to end the war between Russia and Ukraine that has been ongoing for over four years. Special envoy Steve Witkoff and Jared Kushner, Trump’s son-in-law, have been assigned to bring an end to the war.

The sanctions will allow imposition of tariffs and secondary sanctions on countries that purchase Russian oil, gas and uranium among other exports.

India faces tariff trouble again? Bipartisan Russia bill greenlit by Trump threatens 500% tariff

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