Russian oil had emerged as the biggest flashpoint in India-US trade negotiations, with sharp criticism from top US officials over the past 10 months. That impasse now appears resolved as hectic diplomacy has delivered a landmark trade deal, slashing tariffs from 50% to 18%. India is expected to diversify crude imports towards the US and Venezuela, even as it protects core interests in agriculture and dairy. The agreement caps a year of major trade breakthroughs for India and elevates the two-decade-old India-US strategic partnership amid global geopolitical churn.
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