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The Indian rupee may drop past 88 to the U.S. dollar to an all-time low on Tuesday after U.S. President Donald Trump threatened steeper tariffs on Indian goods, worsening fragile sentiment and stoking concerns of more foreign outflows. The 1-month non-deliverable forward indicated the rupee will open in the 88.00 to 88.04 range versus the U.S. dollar, down from 87.6550 on Monday. The rupee’s previous record low was 87.95, touched in February. Trump again threatened to substantially raise tariffs on Indian goods, citing India's continued purchases and resale of Russian oil. India’s foreign ministry responded, saying it will take all...

Days after Trump unveiled a new set of steep tariffs, Russia on Monday responded to the US administration for increasing tariffs and imposing sanctions on the country, accusing the government of using “neocolonial” policy against specific countries to maintain Washington’s hegemony. Russia’s Foreign Ministry Spokeswoman Maria Zakharova, in a statement, said no tariff wars or sanctions “can halt the natural course of history”. Calling sanctions and restrictions a “regrettable reality” of today’s historical stage that affects the entire world, she said that the US is unable to come to terms with the “loss of hegemony in the emerging world order.”...

Kremlin spokesperson Dmitry Peskov warned on Tuesday that it is "illegal" to issue statements threatening to force countries to stop trading with Russia. He referred to comments made by United States President Donald Trump, who said he will impose tariffs on India because it buys "massive amounts" of Russian oil and resells it for "big profits." Peskov underlined that sovereign countries have the right to choose their trade partners.

India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!! President DJT

A top aide to President Donald Trump on Sunday accused India of effectively financing Russia's war in Ukraine by purchasing oil from Moscow, after the U.S. leader escalated pressure on New Delhi to stop buying Russian oil. "What he (Trump) said very clearly is that it is not acceptable for India to continue financing this war by purchasing the oil from Russia," said Stephen Miller, deputy chief of staff at the White House and one of Trump's most influential aides. Miller's criticism was some of the strongest yet by the Trump administration about one of the United States' major partners...