The United States has sanctioned 32 entities, including India’s Farmlane Private Limited, for allegedly supplying materials to Iran’s missile and drone programmes, intensifying Washington’s “maximum pressure” campaign against Tehran’s weapons development.
Chabahar is not just a port; it is a key part of India’s regional strategy to bypass Pakistan and gain direct access to Central Asia and Europe through Iran.
The US and EU target Russia’s oil giants Rosneft and Lukoil in the toughest sanctions since the Ukraine war began, testing Moscow’s war economy but risking higher global prices.
After months of hesitation, Trump approved sanctions on Rosneft and Lukoil—marking his first major move against Moscow in his second term.
Brent crude futures fell 17 cents, or 0.3%, to $65.82 by 0024 GMT. U.S. West Texas Intermediate crude futures were down 17 cents, or 0.3%, at $61.62
As much as 20% of China’s crude imports — about 2 million barrels a day in the first nine months of this year — come from Russia
The sanctions are part of the department's efforts to curb Iran’s petroleum and petrochemical exports
The U.S. sanctioned around 100 entities, including Chinese refineries and terminals, for facilitating Iranian oil exports, even as President Trump noted Iran’s support for the Israel-Hamas ceasefire and hostage deal.
A covert oil-for-projects pipeline fortifies Beijing–Tehran ties and evades Washington's leverage.
The end of the waiver exposes Indian entities to possible financial and legal penalties and creates new uncertainty for one of New Delhi’s most strategically important projects.
Of the six Indian companies sanctioned by the US for buying oil from Iran, Alchemical Solutions Private Limited made the heftiest payment of $ 84 million while the other five Indian companies made payments ranging between $1.3 million to $51 million to Iranian companies for purchase of petroleum products, an official statement of the US Department of State said.
Senators Lindsey Graham and Richard Blumenthal warn the West has two weeks to act against Putin's war plans. After visiting Kyiv and meeting Zelenskyy, they urged swift passage of a sweeping sanctions bill to hit Russia’s economy hard. The legislation would target nations still importing Russian oil, including China and India. With peace talks stalled, the senators say Putin is stalling diplomacy and preparing for a major summer offensive.
In the first 10 days of March, Russian crude oil loadings for India were at around 590 thousand barrels per day (bpd), lower than 1.14 million bpd to China, showed data from commodity market analytics firm Kpler. However, Russian oil loadings for India could pick up later in the month.
During the month, India ramped up crude oil supplies from non-traditional sources such as Nigeria, Brazil and others to shield itself from the geopolitical uncertainties.
In January, India imported 1.67 million barrels per day (bpd) of crude oil from Russia—up 13 percent from December 2024—showed data from commodity market analytics firm Kpler. Russia supplied 1.48 million bpd of crude oil to India in December.
India will take a call on shifting to other sources for its crude oil requirements after studying the fine-print of the latest sanctions by US on Russia's energy sector. The sanctions will be supervised by the incoming Trump administration.
The U.S. Treasury Department said in a statement the entities – a subsidiary of Iran’s Revolutionary Guard Corps (IRGC) and an organization affiliated with Russia’s military intelligence agency (GRU) – aimed to ”stoke socio-political tensions and influence the U.S. electorate during the 2024 U.S. election”.
The US has sanctioned 19 Indian firms and two nationals for allegedly supplying Russia with dual-use goods critical to its defense industry, to curb support for Russia’s military efforts. The listed companies include suppliers of aircraft parts, microelectronics, and machine tools.
The US aims to punish “third party countries” accused of extending assistance to assist Russia in evading the thousands of sanctions that have been imposed on the country since its invasion of Ukraine in February 2022
President Joe Biden would no longer exclude these “de minimis” imports from tariffs under a proposed rule released Friday to tax all imports if they're covered under Sections 201 or 301 of the Trade Act of 1974, or Section 232 of the Trade Expansion Act of 1962.
Washington has consistently warned Beijing about its support for Russia's defense sector, implementing hundreds of sanctions to restrict Moscow's access to critical technologies for military use.
The meeting is expected to push some key areas of mutual interest between both the nations. The ties had been impacted recently after a Chinese spy balloon had wafted across the US earlier this year.
Fear of US sanctions has made some private sector banks wary. Even with Russia, there seems to be a reluctance to settle trade in Rupees of late.
The action, taken in coordination with Group of Seven allies, seeks to punish 250 people and firms, puts financial blocks on banks, arms dealers and technology companies tied to weapons production, and goes after alleged sanctions evaders in countries from the United Arab Emirates to Switzerland.
The actions that the United States has taken against Russia in partnership with more than 30 countries constitute the broadest set of sanctions and export controls ever imposed against a major economy.