Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Democrats Score Surprise Texas State Senate Win, Fueling Momentum Ahead of 2026 Midterms 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Zelenskiy Awaits U.S. Details as Ukraine Prepares for Possible Peace Talks Next Week 
Venezuela Proposes Amnesty Law and Plans to Transform Helicoide Prison 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Minnesota Judge Rejects Bid to Halt Trump Immigration Enforcement in Minneapolis 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
India Budget 2026: Modi Government Eyes Reforms Amid Global Uncertainty and Fiscal Pressures 
Rafah Border Crossing to Reopen for Palestinians as Israel Coordinates with Egypt and EU 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
U.S. and Israeli Military Leaders Hold Pentagon Talks as Tensions With Iran Escalate 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
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.
