India's equity benchmarks are set to open higher on Monday, buoyed by cooling Russian oil supply concerns after a meeting between the U.S. and Russian Presidents and New Delhi's proposed goods and services tax reforms.

Indian Oil Corp. will launch its first sustainable aviation fuel facility this year, producing 35,000 tons annually from waste cooking oil to meet blending mandates and target European markets.

Last week, President Donald Trump announced an additional 25% tariff on Indian exports, citing New Delhi’s continued imports of Russian crude. India is the world’s second-largest buyer of Russian oil after China.

India's state-run Bharat Petroleum Corp has awarded a five-month tender for 10 million barrels of U.S. oil to European trader Glencore, two people with knowledge of the matter said, aiding India's efforts to deepen energy ties with Washington.

US Treasury Secretary Scott Bessent criticized European countries for purchasing Indian oil products made from Russian raw materials. He also urged EU governments to "do their part" to increase pressure on that country,

India’s purchase of Russian oil has supported US policy objectives by helping stabilise global energy prices, former US Assistant Secretary of Energy Geoffrey Pyatt told CNBC-TV18. Pyatt said New Delhi’s actions aligned with the G7 price cap framework,

Reliance Industries , India's biggest buyer of Russian oil, has in recent weeks made rare fuel oil purchases from state-run Hindustan Petroleum Corp, seven industry sources said.