cs services agreement

US and India trade concerns could be resolved within the next seven months, with India offering to double its bilateral trade with the US to USD 500 bn by 2030, Reuters reports. Both parties aim to reduce their trade gap, with promises from India to lower tariffs on US products and boost market access to US oil, gas, and farm products as it seeks to avoid Trump’s swinging retaliatory tariffs.

ALSO FROM INDIA- Russia’s Novatek PJSC offered sanctioned LNG cargoes to Indian buyers on the sidelines of New Delhi’s India Energy Week conference last week, Bloomberg reported last week, citing insider sources. Talks raised the potential sale of volumes from the Arctic LNG 2 — a Russian export plant sanctioned by the US back in 2023 — but Indian buyers have not agreed to purchase the fuel, sources added.

India wants to play by the book: Indian Oil Secretary Pankaj Jain told reporters that Russian firms, including Novatek, met with Indian businesses, but the topic of Arctic LNG 2 was not mentioned in that specific meeting. Conversations involving Arctic LNG 2 were held in another round of meetings, sources confirmed to the newswire.

And it's the same for oil: India is looking to only uptake Russian crude oil if it's supplied by firms and ships that do not fall under US sanctions, Jain told Reuters on Thursday. “We don’t want to take risk. We are not going to touch any cargo that involves sanctioned entit[ies] or ships in the supply chain,” Jain added. India stands out as the second largest importer of crude oil from Russia after China.

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