America's emergency oil stockpile has fallen to its lowest level in more than four decades after continued releases linked to the Iran conflict, raising concerns about future supply disruptions.
It is after more than 100 days that both President Donald Trump and Iran have announced a peace deal, much to the world’s relief.
Trump said Iran had agreed to never possess a nuclear weapon, but Israel and regional experts warned the US-Iran MoU may not end the security crisis.
Israel has said it will maintain military positions in Lebanon despite Donald Trump's agreement with Iran, with senior ministers rejecting any withdrawal under diplomatic pressure.
The Prime Minister expressed India's hope that the implementation of this understanding will help restore peace and stability in the region.
US President Donald Trump said that Washington and Moscow have made a "lot of progress" in working towards ending the Ukraine War and speculated the punitive tariff he imposed on India for buying Russian oil may have something to do with it.
As US President Donald Trump on Wednesday announced to impose 50 per cent tariffs on imports from India, shipments worth more than $30 billion involving pharmaceuticals and certain electronic items such as smartphones, semiconductors, and energy are so far secure from higher duties as these are still under an exemption list.
Rahul also took a dig at Prime Minister Narendra Modi, saying the PM should not let his weakness override national interests.
MEA spokesperson Randhir Jaiswal said that US actions are "unfair, unjustified and unreasonable."
Trump signed an executive order imposing an additional 25 per cent ad valorem duty on imports of articles of India.
