We are following the discussions regarding a peace deal between Russia and Ukraine, and what the negotiations might mean for global energy markets.

New Delhi’s imports of oil from Russia had jumped from less than 1% before the war to 42%, claimed United States Treasury Secretary Scott Bessent.

In a post on X (formerly Twitter), Sibal claimed that Bessent is actively contributing to the deterioration of the India-US relationship. "Bessent is contributing actively to creating tensions with India. Based on false facts to boot," he said on social media.

New Delhi has been recalibrating its foreign policy more toward China and other BRICS group members after U.S. President Donald Trump threatened to boost tariffs.

With contradictory statements from US Treasury Secretary Scott Bessent and Secretary of State Marco Rubio, the rationale of slapping 50% tariffs on India but not on China —also a buyer of Russian oil— is under question.