August 28, 2025

Russian oil

Banking

Trump’s punishing tariffs to deepen the slump in one large corner of Indian banking

Sectors including textiles, jewellery, apparel, seafood, machinery and mechanical appliances, chemicals, and auto components are expected to bear the brunt of the 50% tariffs on Indian goods entering the US. Direct lending by top banks such as State Bank of India, ICICI Bank and HDFC Bank to these industries is estimated to be about 10%

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Banking

Trump toughens sanctions on Russian oil, gas, banking sectors

United States President, Donald Trump, is ready to impose more restrictions on Russia’s oil, gas and banking sectors. CBS News reports that Trump’s plan is to restrict Russian access to US payment systems, according to four people familiar with the plans. On Wednesday, the Treasury Department let lapse a 60-day exemption put in place by

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