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IHC H1 net profit $2.94 billion

The company posted 31% increase in revenue.

ADNOC Gas signs LNG deal

Will supply 0.5mmtpa of LNG to India's HPCL.

Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Trump says to raise tariff on India over Russia oil purchases

US President Donald Trump waves before boarding Marine One at Lehigh Valley International Airport in Allentown, Pennsylvania, on August 1, 2025. AFP
By TRENDS Desk AFP
August 4, 2025 10:48 pm
  • Trump's heightened pressure on India comes after he signaled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv
  • Moscow is anticipating talks with the US leader's special envoy Steve Witkoff, who is expected to meet President Vladimir Putin this week

Washington, United States – President Donald Trump threatened Monday to “substantially” hike US tariffs on goods from India over its purchases of Russian oil — a key source of revenue for Moscow’s war on Ukraine.

Trump’s heightened pressure on India comes after he signaled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, more than three years since Russia’s invasion.

Moscow is anticipating talks with the US leader’s special envoy Steve Witkoff, who is expected to meet President Vladimir Putin this week.

On Monday, Trump said in a post to his Truth Social platform that India was “buying massive amounts of Russian Oil” and selling it for “big profits.”

“They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump added.

“Because of this, I will be substantially raising the Tariff paid by India to the USA.”

But he did not provide details on what tariff level he had in mind.

For now, an existing 10 percent US tariff on Indian products is expected to rise to 25 percent come Thursday.

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