Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Trump Administration Moves to Keep TransAlta Coal Plant Running Amid Rising AI Power Demand 
Belarus Frees Opposition Leaders Maria Kalesnikava and Viktar Babaryka in U.S.-Brokered Deal 
Syria Arrests Five Suspects After Deadly Attack on U.S. and Syrian Troops in Palmyra 
Jimmy Lai Convicted Under Hong Kong National Security Law in Landmark Case 
Supporters Gather Ahead of Verdict in Jimmy Lai’s Landmark Hong Kong National Security Trial 
Lukashenko Says Maduro Welcome in Belarus Amid Rising U.S.-Venezuela Tensions 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Thousands Protest in Brazil Against Efforts to Reduce Jair Bolsonaro’s Prison Sentence 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
European Leaders Tie Ukraine Territorial Decisions to Strong Security Guarantees 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Zelenskiy Signals Willingness to Drop NATO Bid as Ukraine, U.S. Hold Crucial Peace Talks in Berlin 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
India will maintain its Russian oil purchases despite U.S. President Donald Trump’s threats of penalties, two Indian government sources told Reuters. Trump, who recently imposed a 25% tariff on Indian exports and hinted at further penalties for Russian energy and arms purchases, said he believed India had halted Russian oil imports. However, Indian officials confirmed no immediate policy change.
Officials cited long-term oil contracts and discounted Russian crude prices as key reasons for continuing imports. They also noted that India’s purchases help stabilize global oil prices, which remain subdued despite Western restrictions on Russia’s energy sector. Russian crude is not directly sanctioned and is being bought below the EU price cap.
Foreign ministry spokesperson Randhir Jaiswal reaffirmed India’s “steady and time-tested partnership” with Russia, emphasizing that energy sourcing decisions depend on market availability and global circumstances.
Russia remains India’s largest oil supplier, accounting for about 35% of its imports. From January to June 2025, India imported roughly 1.75 million barrels per day of Russian oil, slightly higher than last year, according to industry data.
While government policy has not changed, sources revealed Indian state refiners recently paused Russian oil purchases as discounts narrowed to their lowest since 2022. Companies such as Indian Oil Corp, Bharat Petroleum, Hindustan Petroleum, and Mangalore Refinery have not sought Russian crude in recent weeks.
Privately owned Nayara Energy, majority-owned by Rosneft, faces EU sanctions that have stalled cargo deliveries and prompted its CEO’s resignation. Trump has also threatened 100% tariffs on U.S. imports from countries buying Russian oil unless Moscow secures a peace deal with Ukraine, signaling continued pressure on India’s energy strategy.
This stance highlights India’s balancing act between securing energy supplies and navigating geopolitical tensions.
