Oil refiners in China have stepped up purchases of Russia’s flagship crude, seizing an opportunity to take discounted cargoes relinquished by India as Washington ramps up trade tariffs against New Delhi.

The note, however, added that a trade deal between US and India could reduce these risks, even as India stares at an additional 25 percent levy over its oil imports from Russia, effective from August 27.

Global Macro Research, Nomura Singapore expects the RBI to deliver two more rate cuts by year-end as inflation trends lower, providing a buffer against external shocks.

What’s the weakness of Russia? Almost all of their income comes from oil and gas sales,” Graham said. “If we went after the customers of Russia and said you had to pick between the American economy and buying cheap Russian oil or gas,

Indian Prime Minister Narendra Modi will meet with China’s top diplomat on Tuesday in a sign of easing tensions between the nuclear-armed neighbors after a yearslong standoff between the Asian powers.

India has recommended a three-year import tariff of 11%-12% on some steel products to curb shipments from top producer China. The levy, if imposed, will start at 12%. It will be eased to 11.5% in the second year and to 11% in the third year,

Indian markets surged Monday on news of a potential goods and services tax overhaul. James Thom of Aberdeen said he remains bullish on India’s structural outlook, noting the reform could revive weakening consumption and cushion the impact of high U.

US tariffs and protectionist trade measures against India are contributing to a warming of ties between the key regional powers, despite their divergent interests - Anadolu Ajansı