India has refused Russian liquefied natural gas shipments to avoid exposure to US sanctions, according to sources. With energy supply uncertainty rising alongside Middle East tensions, a Russian LNG tanker reportedly remains stuck without approval for permitted cargoes. India and Russia continue discussions on what shipments could legally proceed, while Russia pushes to find alternative buyers for its LNG exports.
Hindustan Zinc says it is evolving into a multi metal and critical minerals platform, aiming to reduce India’s import dependence. The company cites record mined and refined zinc production for FY25-26, alongside substantial silver output. Driven by operational discipline and cost efficiency, the move is positioned as a growth bet and a step toward greater self sufficiency.
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Gold held steady on Friday, but traders expect a weekly dip as surging oil prices revive inflation concerns and alter interest rate expectations. Market moves were also influenced by geopolitical jitters around the Strait of Hormuz and a sharp drop in India’s gold imports linked to tax-related issues, adding uncertainty for bullion demand.
The UAE’s unexpected departure from OPEC+ has rattled global energy markets, fueling fears that oil supply discipline is weakening. Peter McGuire calls it a “chink in the armor,” casting doubt on the alliance’s stability. For major importers like India, the risk is further crude price pressure as geopolitical tensions continue to complicate supply and demand.
India’s Russian crude imports cooled in April, falling 20% month-on-month to 1.57 million barrels per day after a March jump. The surge had been supported by floating cargoes amid the Iran conflict and a temporary US sanctions waiver, but that tailwind faded, pulling volumes back in April.
India has denied an RTI request seeking details of Russian crude oil imports between June 2022 and June 2025. The Petroleum Planning and Analysis Cell said the figures were commercially confidential and linked to strategic interests. The Central Information Commission backed the refusal, and also flagged transparency issues with the PPAC website that failed to provide reliable information.
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India is considering limiting sulphur exports as West Asia war strains Middle Eastern supplies, pushing up prices and disrupting supply chains. Industry groups warn this could raise global sulphur costs further. The risk increases as China is set to restrict sulphuric acid exports next month. India, heavily dependent on imports, may prioritize domestic availability.
India is preparing to launch its first large-scale private gold mine, the Jonnagiri project in Andhra Pradesh. Backed by Geomysore and substantial investment, the mine is expected to yield up to 1,000 kg of gold each year. If it performs as projected, it could strengthen domestic supply and meaningfully reduce India’s dependence on gold imports, reshaping the country’s import story.
Tensions in West Asia are disrupting a key India-linked corridor via the Strait of Hormuz, forcing shipping lines to divert vessels. The fallout is visible in surging insurance premiums, the emergence of new surcharges, and added transit costs. With route uncertainty rising, exporters and importers face tighter schedules and higher logistics expenses.
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