Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
US deal may cut tariff to 15%, trim Russian oil purchase
Mint Chennai
|October 22, 2025
On energy, the Indian side is considering allowing US ethanol and gradually reducing purchases of Russian oil, with Washington expected to extend concessions on energy trade in return, said the first of the three officials cited above.
-
India, on average, imports $12–13 billion worth of crude oil and gas from the US every year.
(BLOOMBERG)
The Indian side may not make any formal announcement on this front. Instead, state-run oil marketing companies are expected to be informally advised to diversify crude sourcing towards the US, this person said.
Queries emailed to Union commerce minister Piyush Goyal, commerce secretary Rajesh Agarwal, the spokespersons of ministries of commerce and external affairs, and the USTR remained unanswered till press time.
In response to a media query, the US Embassy in New Delhi said, “The embassy defers to the USTR on all inquiries regarding trade negotiations.”
This story is from the October 22, 2025 edition of Mint Chennai.
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 Mint Chennai
Mint Chennai
Deep dread of the world we inhabit
Modern horror writers are moving away from jump scares towards atmospheric dread and unease and reinventing the genre
3 mins
October 25, 2025
Mint Chennai
Telecom operators dial govt for power reforms as costs rise
The calls we make, the videos we stream, and the internet we use all depend on mobile towers that run on electricity.
1 mins
October 25, 2025
Mint Chennai
Branded mkts lift Dr Reddy’s in Q2
Dr Reddy’s Laboratories beat street estimates in the September quarter, with a revenue of ₹8,805 crore and profit after tax of ₹1,437 crore, buoyed by growth in branded markets and its nicotine replacement therapy (NRT) portfolio.
1 min
October 25, 2025
Mint Chennai
Euro masters shine a light on Indian golf
When the world's best players came to Delhi, the result was riveting golf that tested the masters
3 mins
October 25, 2025
Mint Chennai
Folk tales and everyday horror
If you have any association with hill towns, you're likely to have grown up with stories that send shivers down the spine.
1 mins
October 25, 2025
Mint Chennai
Jury out on oil sanctions hit on RIL as co assesses impact
Discounted Russian oil makes up over two-fifths of the company's crude basket
3 mins
October 25, 2025
Mint Chennai
Elite chess returns to Indian shores
With top contenders skipping Goa, India's squad aims to cash in on home advantage in chess's most brutal knockout format
5 mins
October 25, 2025
Mint Chennai
Coforge outshines in Q2 as tech rivals navigate haze
Coforge’s optimism contrasts IT’s Big Five who are still uncertain about the environment
3 mins
October 25, 2025
Mint Chennai
Fun and life lessons in the lunch box
To learn to cook is to gain a life skill and get a hands-on lesson in science, history and living well
4 mins
October 25, 2025
Mint Chennai
Piyush Pandey: The art of connecting with India’s masses
allowed brands to reach out to the masses like never before.
1 mins
October 25, 2025
Listen
Translate
Change font size