As India continues to purchase Russian crude oil despite Donald Trump’s additional 25% tariff, Indian refiners now have started making payments to Russia in China currency Yuan.
In San Cristóbal (40%) and Carabobo-1 (~18%), ONGC Videsh still has stock. Caracas agreed to pay some of the about $600 million in unpaid oil dividends after 2023–24 flexibility, but additional US tightening forced ONGC to look for its own unique US licenses to operate and collect debts.
In addition to Nepal's assertiveness about the Lipulekh issue, the United States has been prominently involved through diplomatic engagement and financial aid.
Prime Minister Narendra Modi's back-to-back visits to Japan and China come at a critical time for the global economy. Washington establishment under Donald Trump's presidency is getting apoplectic as India tests a cautious thaw with Beijing and strengthens supply linkages with Japan.
The visit is more than just a bilateral ritual.. India has emerged as an indispensable partner for Japan, which shares concerns about China's growing aggression, in the midst of a shifting global order.