Overview

• U.S. negotiators told Indian counterparts that limiting purchases of Russian crude is required to reduce tariffs and conclude a trade agreement, according to Reuters.
• Washington says talks are progressing but more work is needed on market access, the trade deficit, and India’s oil purchases from Russia.
• India calls Western criticism selective, with MFA spokesman Randhir Jaiswal urging NATO, the EU and the G7 to consider halting their own imports from Russia.
• New Delhi has proposed concessions that include easing some restrictions on genetically modified corn imports and increasing purchases of U.S. defense goods and energy, Bloomberg reported.
• India has told the U.S. it could only shift from Russian crude if sanctions on Venezuela and Iran were lifted, and elevated U.S. tariffs of up to 50% remain in place as negotiations continue.