Trump raises India tariffs to 50% over Russian oil purchases [Update@post#255]

[DeadlyVenom]

Trump says US getting close to reaching a trade deal with India​

WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday the United States was getting close to reaching a deal with India that would expand economic and security ties between the two countries, boost U.S. energy exports and promote investments in key U.S. sectors.

"We're getting a fair deal, just a fair trade deal," Trump told reporters in the Oval Office at the swearing-in of his envoy to India, Sergio Gor. "We're making a deal with India, much different deal than we had in the past."

Trump repeated his optimism that a deal was near, saying, "We're getting close."

Courtesy - Reuters

MSN

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@DeadlyVenom @Bhaag Viru Bhaag @Devadwal - so much for India getting alienated all over the world

Good job from Surrender.

 

[sweep_shot]

Good job from Surrender.

Narendra, Surrender.

 

[Devadwal]

India's US exports jump despite 50% tariffs as trade tensions ease

India's exports to the US climbed to $6.3bn in October, up from $5.5bn in September

https://www.bbc.com/news/articles/cy7erx7440mo.amp

 

[BouncerGuy]

India's Reliance stops importing Russian crude oil for refinery operations

India's Reliance Industries has stopped importing Russian crude oil into its refining complex at Jamnagar in western Gujarat state, effective Nov. 20, its spokesperson said on Thursday.

The Indian conglomerate, which has a long-term deal to buy nearly 500,000 barrels a day of crude from Russian major Rosneft, had said it would abide by sanctions against Moscow while maintaining ties with current oil suppliers.

Britain, the European Union and the U.S. have imposed sanctions on Russia over its war in Ukraine, with fresh U.S. sanctions targeting its two top oil producers, Rosneft and Lukoil.

From Dec. 1, all product exports from the refinery will be obtained from non-Russian crude oil, the Reliance spokesperson said in a statement.

Reliance said this transition has been completed ahead of schedule to ensure full compliance with product-import restrictions coming into force on Jan. 21.

The U.S. has given companies until Nov. 21 to wind down transactions with the Russian oil producers, while the EU has previously said that from Jan. 21 it will not take fuel produced at refineries that received or processed Russian oil 60 days prior to the bill of lading date.

Europe accounts for 28% of Reliance's exports.

Reliance also said that all pre-committed liftings of Russian crude oil as of Oct. 22 are being honored, considering all transport arrangements were already in place.

The final such cargo was loaded on Nov. 12 and any cargoes arriving on or after Nov. 20 will be received and processed at its refinery in the Domestic Tariff Area, Reliance said.

India's Reliance stops importing Russian crude oil for refinery operations

All exports from Gujarat facility set to be obtained from non-Russian sources from Dec. 1

asia.nikkei.com