Russia's Lavrov to hold talks with Indian counterpart S Jaishankar on August 21
Jaishankar
on August 21, a spokesman for Lavrov's ministry said on Wednesday.
Moscow and New Delhi have talked up their "strategic partnership" since U.S. President Donald Trump earlier this month announced higher tariffs on imports from India because of its purchases of Russian oil.
Finance
Value and Valuation Masterclass - Batch 4
By CA Himanshu Jain
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
Finance
Value and Valuation Masterclass - Batch 3
By CA Himanshu Jain
View Program
Artificial Intelligence
AI For Business Professionals
By Vaibhav Sisinity
View Program
Finance
Value and Valuation Masterclass - Batch 2
By CA Himanshu Jain
View Program
Finance
Value and Valuation Masterclass Batch-1
By CA Himanshu Jain
View Program
More to come.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fibre2Fashion
15 minutes ago
- Fibre2Fashion
S&P Global upgrades India's rating to BBB from BBB-; outlook stable
S&P Global Ratings recently upgraded India's sovereign rating to BBB from BBB minus, with a stable outlook, citing economic resilience and sustained fiscal consolidation. 'The stable outlook reflects our view that continued policy stability and high infrastructure investment will support India's long-term growth prospects,' it noted. The impact of US tariffs on India will likely be manageable, with sound economic fundamentals expected to support the country's growth momentum over the next two to three years, it said. S&P Global Ratings has upgraded India's sovereign rating to BBB from BBB minus, with a stable outlook, citing economic resilience and sustained fiscal consolidation. The impact of US tariffs will likely be manageable, with sound economic fundamentals expected to back growth momentum over the medium term, it said. Monetary policy settings have turned conducive to managing inflationary expectations. "Robust economic expansion is having a constructive effect on India's credit metrics…..In addition, monetary policy settings have become increasingly conducive to managing inflationary expectations," it said. India remains among the best performing economies in the world, said S&P Global, which expects the growth dynamics to continue in the medium term, with GDP increasing by 6.8 per cent annually over the next three years. This has a moderating effect on the ratio of government debt to GDP despite still-wide scale deficits, it observed. If India has to switch from importing Russian crude oil, the fiscal cost, if fully borne by the government, will be modest given the narrow price differential between Russian crude and current international benchmarks, S&P Global said. It cautioned that it may lower the ratings if it observes an erosion of political commitment to consolidate public finances. Downward pressure could also come from India's economic growth slowing materially on a structural basis such that it undermines fiscal sustainability, it added. Fibre2Fashion News Desk (DS)
Hans India
15 minutes ago
- Hans India
Pakistan's sleep is still disturbed; the scale of destruction was immense: PM Modi on Op Sindoor
Prime Minister Narendra Modi said on Friday that Operation Sindoor has disturbed Pakistan's sleep, and the devastation there was so massive that new revelations are emerging every day. He said this during his address from the ramparts of the Red Fort on Friday, adding that India will no longer tolerate nuclear blackmail and if the enemy dares to commit any more misadventure, the Indian Armed Forces will give them a befitting reply. 'India will no longer tolerate nuclear blackmail. If the enemy dares to commit any more misadventure, the Indian Armed Forces will give them a befitting reply. India has decided that blood and water will not flow together,' he said. He said that this August 15 has a special significance. 'Today, I got the opportunity to salute the brave soldiers of Operation Sindoor from the ramparts of the Red Fort. Our brave, valiant soldiers have given the enemies a punishment beyond their imagination.' PM Modi said that the Armed Forces were given a free hand, and they produced remarkable results. 'We gave our Armed Forces a free hand, allowing them to strategise, set the target, and decide the timing. Our forces set a precedent unseen for many decades. They attacked hundreds of kilometres into enemy territory and turned terrorist headquarters to dust," he said. 'Pakistan's sleep is still disturbed. The devastation in Pakistan has been so massive that new revelations are emerging every day, and new information is coming to light,' he said. 'I am proud that today, I got the opportunity to salute the brave soldiers of Operation Sindoor from the Red Fort. Our brave soldiers gave the enemies a fitting reply, beyond their imagination. Every Indian was angered by the horrors perpetrated by terrorists in Pahalgam. Operation Sindoor is the expression of that very anger,' the PM said. PM Modi said that India has been bearing the pain of terrorism for many decades. 'We have now set a new normal. Terrorists and those who shelter them will not be seen separately. They are an equal danger to humanity with no difference,' the PM said. Prime Minister Narendra Modi hoisted the national flag and addressed the nation from the ramparts of the iconic Red Fort in the national capital. He said this great festival of freedom is a festival of 140 crore resolutions. 'This festival of freedom is a moment of pride in collective achievements. Every heart is filled with enthusiasm. The nation is continuously strengthening the spirit of unity, he said in his much-awaited address.
Time of India
15 minutes ago
- Time of India
No pause on Russian oil imports, India continues imports based on economic rationale
India has not halted oil purchases from Russia in response to the US President's tariff threat and continues to buy based solely on economic considerations, said AS Sahney, Chairman of Indian Oil Corporation (IOC), the country's largest oil firm. Purchase volumes may fluctuate monthly based on the discounts offered on Russian crude grades like Urals. While discounts had previously reached as high as $ 40 per barrel, they have narrowed to just $ 1.5 late last month, resulting in reduced offtake. Discounts have since widened to about $ 2.70. However, India's intent to continue buying Russian oil remains unchanged. India became the largest customer of Russian oil from 2022, after western countries shunned Russian oil and imposed sanctions on Moscow for its invasion of Ukraine. Sahney said refiners like IOC buy crude oil from Russia purely on economic consideration and have not been asked to cut or boost purchase in response to US tariffs, he said. "There is no pause," he said. Russian oil has continued to flow to Indian refiners in July as well as this month. "We continue to buy, purely based on economic considerations, that is to say if the pricing and characteristics of the crude make sense in our scheme of processing, we buy," he told reporters here. "No special effort is being made to either increase or decrease (the import volumes). We are buying crude as per economic considerations," he said. Imports from Russia made up for 22-23 per cent of all the crude oil that IOC refineries processed in the April-June period. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the $ 40 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from Russia. "There are no sanctions on Russian crude," he said. "India has not done anything that violates any sanctions". Separately, Bharat Petroleum Corporation Ltd (BPCL) Director (Finance) Vetsa Ramakrishna Gupta on an investor call said the discounts have narrowed to $ 1.5 per barrel, and led to lower imports last month. In the first quarter, Russian oil made up 34 per cent of BPCL's crude intake and the company hopes to return to a 30-35 per cent ratio as long as there are no sanctions, he said. Before February 2022, Russian crude oil accounted for less than 1 per cent of India's total oil imports. However, after Moscow's invasion of Ukraine, western nations shunned Russian energy, leading to Russian crude being available at discounted rates compared to global benchmarks. Seizing the economic opportunity, India ramped up its purchases, significantly increasing its reliance on Russian oil to meet domestic energy needs. Russian crude oil now meets 30 per cent of the requirement. Sahney said at no time was import of crude oil from Russia sanctioned and so India continued to purchase keeping in mind economic considerations. "Such purchases will continue unless sanctions are imposed," he said. "We have not got any instruction (from the government) to either increase or decrease purchase. We are doing business as usual." About talk of refiners being asked to increase purchases from the US in a bid to placate Trump, IOC Chairman said, "Neither are we being told to buy more nor are we told to buy less from US or any other destination. Economic considerations dictate our actions."
