Imports continue from major supplying countries, including Indonesia and Malaysia (palm oil), Russia and Ukraine (sunflower oil), and Argentina and Brazil (soybean oil).
Amid the US-Iran conflict, the German Ambassador to India has suggested that countries need to try to find ways and means to become independent from fossil fuels.
S Jaishankar met several European leaders in Cyprus during the informal Gymnich meeting, where discussions centred on India-EU cooperation and regional developments.
Alexander Stubb said that Washington no longer seeks allied consent before taking major international action and argued the NATO alliance remains strategically indispensable to the United States.
On his social media platform, US President Donald Trump suggested that both the sides must take their time and get it done right.
A WSJ report has alleged that the UAE secretly carried out strikes inside Iran during the recent Gulf conflict, despite publicly maintaining a position of neutrality.
Auto-fuel price hikes in India now appear less a matter of political timing than of economic arithmetic.
"We have to use imported petro products only as needed," the PM said.
Regional developments featured prominently during the meeting. The leaders exchanged views on the evolving security situation and discussed the Pakistani mediation efforts aimed at reducing tensions in the region.
The reverberations of the West Asia conflict are reshaping the global economy at a structural level, exposing vulnerabilities in energy security, supply chains, fiscal stability, and geopolitical finance.
