Overview

• U.S. Vice President JD Vance said the 50% tariff package, including a 25% oil‑linked penalty, is intended to curb Russia’s oil revenues and push it toward talks on Ukraine.
• India’s ambassador to Russia, Vinay Kumar, said companies will keep buying from the “best deal” sources and confirmed working payment mechanisms with Moscow.
• External Affairs Minister S. Jaishankar dismissed the duties as unjustified and told critics of Indian refined products to simply stop buying them.
• A scheduled round of U.S.–India trade negotiations was canceled as tensions rose over the new duties and Washington’s linkage to Russian crude purchases.
• Prime Minister Narendra Modi pledged to shield farmers and small businesses from fallout, saying his government will not allow harm to vulnerable producers.