Try GOLD - Free
Govt Quells Fears of US Tariff Threat on Russian Oil Import
Business Standard
|July 11, 2025
Points to Deepening India-US Trade; Diversified Crude Flows In as Counterbalance
The government is closely monitoring announcements from Washington following US President Donald Trump's threat to impose tariffs on nations purchasing Russian crude oil, natural gas, and uranium, officials said, adding that the situation doesn't merit concerns at the moment.
On July 9, US President Donald Trump publicly backed a proposed legislation that includes a provision of sanctioning countries such as India and China with 500 percent tariffs for purchasing Russian energy. The Sanctioning Russia Act of 2025 also calls for deeper sanctions against Russian politicians, businesses, and government entities. With bipartisan support, the bill is expected to get the Senate's nod, US media has reported.
This story is from the July 11, 2025 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Dubai's kids entertainment brand to debut in India in '26
Kids' luxury entertainment space, Boo Boo Laand, which is present in Dubai Mall, is expected to enter India by 2026, with its first launch in Mumbai's Jio World Plaza, a luxury shopping mall.
1 min
November 03, 2025
Business Standard
Even for Mamdani supporters, his thin résumé is a cause for concern
AS MIDTERMS IN THE US NEAR ...
2 mins
November 03, 2025
Business Standard
Gems & jewellery shipments to US hardest hit in Sep
Exports of gems and jewellery to the United States (US) were hit the hardest in September, following the full impact of the 50 per cent tariff that took effect during the month.
2 mins
November 03, 2025
Business Standard
Deep-tech investors aim for synergies
As India bets on deep tech, investors are seeing collective intelligence — not competition — as the smartest strategy
4 mins
November 03, 2025
Business Standard
Carmakers split over relief to flex-fuel, strong hybrids
Both technologies, if combined, may narrow EVs’ emission edge
4 mins
November 03, 2025
Business Standard
Lamborghini family's next Italian export: Luxury homes in India
In what could mark a new era in India’s branded residences landscape, an Italian touch may soon grace the country’s skylines, with the iconic Lamborghini family set to announce its first project.
2 mins
November 03, 2025
Business Standard
Isro scripts history with launch of heaviest communications satellite
Marking yet another milestone in the space sector, the Indian Space Research Organisation (Isro) on Sunday launched CMS-03, the heaviest communication satellite launched so far from Indian soil.
2 mins
November 03, 2025
Business Standard
A new wave of reforms set to sweep banking
At this juncture, allowing higher foreign stake in PSBs is the right call. It will help them increase capital and scale up business
5 mins
November 03, 2025
Business Standard
Regulators have an issue to solve: Dynamic pricing's cost
DYNAMIC PRICING RAISES ETHICAL QUESTIONS ABOUT NECESSITY, EQUITY AND TRANSPARENCY. INDIA MUST URGENTLY TACKLE THIS DELICATE FINANCIAL ISSUE IMPACTING MILLIONS
2 mins
November 03, 2025
Business Standard
India watches as Trump engages with East Asian leaders
Last week, our government took some measures to facilitate trade for importers and exporters.
2 mins
November 03, 2025
Listen
Translate
Change font size