India may face a $9–11 billion spike in oil import costs if US penalties force it to cut Russian crude. With EU sanctions also tightening, refiners like Reliance and Nayara could lose margins, ...

India has signaled that it will maintain its oil trade with Russia, brushing aside warnings from U.S. President Donald Trump about possible trade penalties.

Amidst potential US penalties and EU sanctions, India faces a complex challenge in its Russian oil trade. A shift away from discounted Russian crude could inflate India's import bill by billions, ...

Referring to the current global climate, Modi said, “The global economy is currently facing multiple uncertainties and an ...