‘Restrictive measures’: Hit by US sanctions, Russia’s Lukoil to sell overseas assets; why was it targeted?

Russian petroleum giant Lukoil announced on Monday evening that it will divest its international operations following US sanctions imposed in connection with Moscow’s actions in Ukraine.“Owing to the introduction of restrictive measures against the company and its subsidiaries by some states, the company announces its intention to sell its international assets,” Lukoil said in a…

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Electronics parts: 5,500cr projects get nod

NEW DELHI: Govt has approved seven projects worth Rs 5,532 crore, out of 249 proposals received under the Electronics Components Manufacturing Scheme, electronics and IT minister Ashwini Vaishnaw said on Monday. The minister said the production of electronics components from the approved projects is likely to reduce the import bill of around Rs 20,000 crore….

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SC relief: Govt set to work out package for Voda Idea

NEW DELHI: The Supreme Court’s ruling on telecom AGR (adjusted gross revenue) empowers the Cabinet to review the entire gamut of issues related to recovery of thousands of crores of rupees from Vodafone Idea, when it comes to matters of duplicate payments, double-counting, interest and penalty on interest, as pointed out by the company. Estimates…

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AGR issue: Government may work on a mega relief package for Vodafone Idea after Supreme Court ruling; Airtel, Tata Tele to also benefit

NEW DELHI: The Supreme Court’s ruling on the telecom AGR matter empowers the Union Cabinet to review the entire gamut of issues related to the recovery of thousands of crores of rupees from the beleaguered Vodafone Idea when it comes to demands of duplicate payments, double counting, interest, and penalty on interest. Estimates put the…

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IndianOil to comply with US curbs on Russian oil

NEW DELHI: India’s largest oil refiner and fuel retailer, IndianOil, on Monday said it will comply with international sanctions, without referring to the latest US curbs on Rosneft and Lukoil — two of the largest Russian crude exporters.“We will abide by all sanctions imposed by the international community,” company chairman Arvinder Singh Sahney said but…

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India’s October US crude imports highest since 2022

US crude oil imports to India surged due to economic factors, including a favourable arbitrage opportunity. (AI image) NEW DELHI: India’s oil imports from the US has risen to their highest level since 2022 in October, underlining bargain hunting by Indian refiners rather than a structural shift amid Washington’s onslaught against New Delhi over purchase…

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