#middle-east-crisis
Good news for Putin: UK loosens sanctions on Russian oil as petrol prices reach their highest levels yet and jet fuel crisis bites holiday industry
According to the licence, the sanctions carve-out will be periodically reviewed as fuel prices rise due to the closure of the Strait of Hormuz and the ongoing crisis in the Middle East.
Indian Airlines Ask Refiners to Postpone Local Jet Fuel Price Hike
Major Indian airlines have asked the state oil companies to postpone hikes in jet fuel prices for domestic flights until the Middle East crisis is over, Bloomberg reported on Tuesday, quoting sources with knowledge of the development. India’s oil marketing co…
Crude oil prices likely to stay higher for longer: ADB Chief Economist
Crude oil prices are set to remain high due to the Middle East crisis. This will affect India's economy, lowering GDP growth in FY27. Inflation is also expected to rise significantly. Weather disruptions and fertilizer costs could further impact food prices. …
India plans stronger exporter support as Middle East crisis strains trade flows
India's government is poised to enhance its export tax refund initiative, a strategic move aimed at bolstering its international trade amidst ongoing geopolitical tensions and high shipping expenses. By extending the program for another five years and increas…