GENERAL19 Oct 2026
Rubio says US very close to trade deal with India
US Secretary of State Marco Rubio said on Monday that Washington is close to finalising a trade deal with India. He linked a waiver from tariffs on Russian oil purchases to that decision. Rubio is due in Mumbai to meet External Affairs Minister S Jaishankar on energy, trade and defence. The US passed the Sanctioning Russia and Iran Act in September.
Key Statutory Highlights
- Rubio said the President weighs national security waivers, including on tariffs, as part of the same trade deal talks.
- Jaishankar told him Indian refineries are built to run on medium sour crude supplied by Middle East countries and Russia.
- Venezuelan crude is heavier and US crude is light, so both would need blending before Indian refineries can use them.
Actionable Advice for Taxpayers / Founders:Watch Rubio's Mumbai meeting with Jaishankar; he said the trade deal and any tariff waiver tied to Russian oil purchases are both still being decided.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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