India Secures 60 Million Barrels Of Russian Oil For April As Hormuz Disruptions Hit Gulf Supplies: Report Indian refiners have agreed to purchase around 60 million barrels of Russian crude oil for delivery in April, reflecting a sharp rise in imports as the nation grapples with supply disruptions caused by escalating tensions in the Middle East. The contracted volumes represent a doubling of February’s imports and align with March’s purchase levels, underscoring India’s efforts to secure energy supplies amid growing uncertainties. The increased procurement of Russian oil follows a temporary policy shift by the U.S. Treasury Department, which initially permitted Indian refiners to take delivery of Russian crude already loaded on ships before March 5. This deadline was later extended to March 12, allowing Indian buyers to capitalize on the opportunity. The decision came amid disruptions to oil shipments from Saudi Arabia and Iraq, as Iran intensified attacks on vessels in the Strait of Hormuz, a critical chokepoint for global oil trade. Indian companies reportedly paid premiums of between five and 15 dollars per barrel for Russian crude, a stark contrast to the heavy discounts typically seen in Asian markets. This surge in prices reflects the urgency of securing supplies amid the crisis. Refiners scrambled to lock in Russian barrels, paying premiums of two to eight dollars above the Brent crude benchmark to ensure uninterrupted supply chains. Beyond Russian oil, India has expanded its energy diversification strategy. Purchases from Venezuela are expected to reach eight million barrels in April, the highest volume since October 2020. The conflict has severely impacted India’s access to oil via the Strait of Hormuz, through which the country usually receives 40 to 50 percent of its imports.#iran #india #strait_of_hormuz #us_treasury #russian_oil
Trump's 250th Anniversary Coins: 5 Changes to U.S. Currency President Trump is nearing the release of an official coin bearing his likeness, but his influence on U.S. currency extends beyond that single design. Over the past year, the Trump administration has implemented several changes to American coins, many tied to the nation’s 250th anniversary. These adjustments have sparked debate, legal scrutiny, and questions about the boundaries of presidential authority over the U.S. Mint. The most visible change is the approval of a 24-carat gold commemorative coin celebrating the 250th anniversary of American independence. The Commission of Fine Arts, a group entirely composed of Trump appointees, endorsed the design, which features the president in the Oval Office. One side of the coin displays the year 1776, while the other shows 2026. This marks the first time a sitting president’s image appears on a coin during their term, a rarity in U.S. history. Only Calvin Coolidge had a coin minted during his presidency in 1926. Legal experts warn that the gold coin could face challenges. Federal law prohibits the use of living presidents’ portraits on circulating coins, though commemorative coins are an exception. The Circulating Collectible Coin Redesign Act of 2020 and 31 U.S. Code § 5112 restrict the depiction of living individuals on coins, with limited exceptions for collectibles. The Presidential $1 Coin Act of 2005 further limits $1 coins to honoring deceased presidents. Despite these rules, the Trump administration has pushed forward with its designs. Another controversial change involves the $1 coin. In October 2025, the U.S. Treasury released a draft design featuring Trump raising his fist in front of a U.S. flag. The front of the coin shows a traditional portrait of the president.#us_treasury #trump_administration #wall_street_journal #commission_of_fine_arts #us_mint
Kamal Haasan Slams Trump Over US 'Permission' to Buy Russian Oil Actor-politician Kamal Haasan has criticized US President Donald Trump on social media, accusing Washington of overstepping by granting India "permission" to purchase Russian oil amid global supply chain disruptions. Haasan, a member of India’s Rajya Sabha and leader of the Makkal Needhi Maiam party, posted a message on X addressing Trump, emphasizing India’s sovereignty and rejecting foreign interference. "Dear Mr. President, We, the people of India, belong to a free and sovereign nation. We no longer take orders from distant foreign shores. Please mind your own business to the best of your abilities," he wrote. Haasan also called for mutual respect between nations, stating, "Mutual respect between sovereign nations is the only foundation of lasting global peace. We wish your country and its people peace and prosperity." The controversy stems from remarks by Scott Bessent, US Treasury Secretary and a close aide to Trump. Bessent told Fox Business that the US had allowed India to buy Russian oil to address temporary supply gaps caused by the Middle East conflict. "The Indians have been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with US oil. But to ease the temporary gap of oil around the world, we have given them permission to accept Russian oil. We may un-sanction other Russian oil," Bessent said. Trump later echoed this sentiment, suggesting the US might take steps to alleviate global oil pressure. "If there were some, I would do it just to take a little of the pressure off," he said, adding that "the oil pressure—there's a lot of oil. We've got a lot of oil. Our country has a tremendous amount and we have, there's a lot of oil out there. That'll get healed very quickly.#india #donald_trump #scott_bessent #kamal_haasan #us_treasury
