At the 26th India-Russia Inter-Governmental Commission, External Affairs Minister S Jaishankar calls for urgent action to correct the widening trade gap and outlines a roadmap for deeper economic enga

Russia continues to supply oil and energy resources to India, with potential for LNG exports, says Deputy PM Denis Manturov.

India's Russian oil imports declined in July after jumping the previous month as some refiners slowed purchases due to smaller discounts, while Indian fuel demand also typically dips during the monsoon season,

"The odds of a peace deal are rising, which would very likely lead to easing sanctions on Russian oil product,s moving global supplies to more of a surplus," Dennis Kissler of BOK Financial said in a note.

The trade deal talks with EAEU were stalled in early 2022 after the Ukraine war. The grouping comprises Armenia, Belarus, Kazakhstan, Kyrgyz Republic, apart from Russia.

U.S. Treasury Secretary Scott Bessent on Tuesday accused India of profiteering from its sharply increased purchases of Russian oil during the war in Ukraine, saying Washington viewed the situation as unacceptable.

India and the Eurasian Economic Union (EEU), comprising Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan, on Wednesday signed the terms of reference (ToR) to launch negotiations on a free trade agreement (FTA).