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The Economic Times

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US may refund small penalties on India over Russian oil buys

Theres good news for India as it might see a reduction in penalties for importing Russian crude oil, with refunds applicable for duties collected before a recent US executive order rescinded those fees. Furthermore, the anticipated trade agreement with the US promises to cut tariffs on Indian exports, setting the stage for a comprehensive trade collaboration that spans various sectors.

10 Feb 2026 12:13 am