'Big items are done': Sergio Gor gives update on India-US trade deal
US Ambassador to India Sergio Gor announced that major components of a new US-India trade deal have been finalized. He also addressed potential US sanctions on Russian energy buyers, noting that India's situation is being reviewed by the President.
Why it matters
The trade deal signals strengthening economic ties between the US and India, while the sanctions issue highlights the delicate balance of India's energy diplomacy.
US Ambassador to India Sergio Gor on Thursday said the two countries had wrapped up the major items on their trade deal agenda, with negotiations moving at an “incredible pace”. Drawing a comparison with the India-EU trade pact, Gor highlighted the speed of the US talks, saying a deal was announced within weeks of his arrival in India, while negotiations for the European Union agreement took nearly two decades.Commenting on America’s 100% tariff for Russian gas and oil buyers, he said that US President Donald Trump is expected to take a decision within the next 10 days. Gor said that the legislation, which received 86 votes in the 100-member US Senate, gives the President the authority to impose sanctions on countries involved in buying Russian oil and gas or helping others evade sanctions.
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