India, the world’s third-largest oil importer, will only purchase Russian crude if it is supplied by companies and ships not sanctioned by the U.S., Oil Secretary Pankaj Jain said.
Western sanctions on Moscow have disrupted global oil trade, forcing buyers of discounted Russian crude to navigate compliance challenges. Jain emphasized that ensuring compliance is the supplier’s responsibility.
India has become the largest buyer of Russian seaborne oil since Western sanctions curbed purchases in response to Russia’s 2022 attack on Ukraine. While India follows UN sanctions rather than those from individual countries, concerns over secondary U.S. sanctions complicate transactions due to Indian banks' and firms’ exposure to the U.S. financial system.
Recent U.S. sanctions targeting Russia’s oil supply chain have impacted Indian refiners, raising tanker freight costs as some buyers and ports avoid sanctioned vessels. Indian refiners have made it clear they will not accept cargo linked to sanctioned entities.
“We won’t take risks. Sellers must ensure clean logistics,” said an Indian refining official.
At the India Energy Week conference, Indian companies met with Russian delegates, including Novatek and Sber Bank, to explore potential energy collaborations.
Americans will soon be able to access and share their medical records through a new “digital health tech ecosystem”, unveiled by U.S. President Do...
Microsoft expects to invest about $30 billion in capital expenditures this quarter, part of an overall record of more than $80 billion planned for...
Egypt's military dropped humanitarian aid by parachute over parts of Gaza on 30 July, targeting areas unreachable by road as famine warnings intensify...
The United States and Israel have criticised Canada’s announcement that it will recognise the State of Palestine at the UN General Assembly in Septe...
Canadian Prime Minister Mark Carney announced that Canada plans to recognise the State of Palestine at the 80th United Nations General Assembly in Sep...
The Russian state news agency has reported that Shahin Shykhlinski, head of the Azerbaijani diaspora in Yekaterinburg, has been declared wanted in connection with a criminal offense.
Three servicemen have died after a Russian missile strike hit a Ukrainian training site, injuring 18 others on Tuesday in the latest, in a series of similar attacks on training facilities, according to Ukraine's Ground Forces, prompting new security steps.
A magnitude 8.8 earthquake off Russia’s Kamchatka Peninsula on Wednesday, has generated 4-metre (13-foot) tsunami waves, prompting evacuations alerts in Japan, Hawaii and other Pacific regions. Authorities across Japan, Hawaii, and China raced to safeguard millions from back-to-back natural threats.
U.S. President Donald Trump on Tuesday warned Russia to halt its war in Ukraine within 10 days, or face sweeping penalties including tariffs and sanctions.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Microsoft expects to invest about $30 billion in capital expenditures this quarter, part of an overall record of more than $80 billion planned for fiscal 2025, as its AI-powered cloud services continue to accelerate revenue and market value.
Egypt's military dropped humanitarian aid by parachute over parts of Gaza on 30 July, targeting areas unreachable by road as famine warnings intensify.
The United States and Israel have criticised Canada’s announcement that it will recognise the State of Palestine at the UN General Assembly in September, warning the move rewards Hamas and undermines peace efforts.
Canadian Prime Minister Mark Carney announced that Canada plans to recognise the State of Palestine at the 80th United Nations General Assembly in September 2025, aligning with France and other nations advocating for Palestinian statehood.
U.S. President Donald Trump will meet with South Korea’s trade delegation in Washington as Seoul races to negotiate a deal before 1 August’s 25 percent tariffs on Korean exports, South Korean officials stated.
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