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Marco Rubio, Sergio Gor on trade deal
Previously, US Secretary of State Marco Rubio said in Mumbai that both the countries are very close to finalising a trade deal, with only a small number of issues left to resolve. He said that an announcement could come soon after a possible signing of the trade agreement by the leaders of both the countries.
"We're very very close. I would say we're about as close as you can be without having an executed agreement," Rubio said when asked about the prospects of concluding the long-awaited trade negotiations. "I think there's a small number of items left to wrap up. So, I think that will happen shortly."
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Last week, US Ambassador to India Sergio Gor said at the Bloomberg New Economy Forum that the two countries would conclude a trade deal soon. "The big picture, the big framework, the big items are done," he said.
Gor further said that remaining issues included smaller details and new concerns that could come up as negotiations progressed. Gor's remarks came after External Affairs Minister S Jaishankar said that he was encouraged by progress in trade talks, adding that both the countries were "heading towards a landing point".
Trump waives 100% tariffs on buyers of Russian oil, gas
Moreover, the US President has also waived the implementation of 100% tariffs on buyers of Russian oil and gas, offering respite to India and China just a day before the measures were due to take effect.
"I am hereby waiving the application of such sanctions, restrictions, and duties provided for in the Graham Act. I have submitted to Congress a certification that the issuance of such a waiver at this time is in the national interest of the United States," Trump said in an executive order released late Friday.
The legislation sought to restrict financial resources supporting Russia's ongoing war against the Ukraine by targeting Russian officials, banks, energy interests, and foreign entities linked to its military operations. The Graham Act also authorised sanctions against Russian President Vladimir Putin and senior government figures.
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