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The Russian niggle in the India-US trade deal amid the celebrations

India-US Trade Deal: India and the US have agreed to a trade deal with reduced US tariffs on Indian goods. However, India's commitment to halt Russian oil purchases in exchange for lower US tariffs carries economic and political risks, Fitch's CeditSights noted. This shift could increase India's import costs and potentially fuel inflation, though sourcing Venezuelan crude might offer some cost benefits.

4 Feb 2026 9:44 am