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GOVERNMENT RAISES WINDFALL TAX AS OIL PRICES SURGE Why in the News? The government has raised the windfall tax on petrol and diesel exports while reducing the levy on aviation turbine fuel exports for the next fortnight. The move comes amid elevated global crude prices, geopolitical tensions and disruptions around the Strait of Hormuz. Windfall …
Read MoreGOVERNMENT RAISES WINDFALL TAX AS OIL PRICES SURGE Why in the News? The government has raised the windfall tax on petrol and diesel exports while reducing the levy on aviation turbine fuel exports for the next fortnight. The move comes amid elevated global crude prices, geopolitical tensions and disruptions around the Strait of Hormuz. Windfall …
Read MoreU.S. Sanctions on Russian Oil Impact Indian Imports Why in the News? The United States has imposed sanctions on Russia’s leading oil firms, Rosneft and Lukoil, for allegedly funding the Kremlin’s war in Ukraine. This move reflects the complexities of global governance in a multipolar world, where economic sanctions are increasingly used as tools of …
Read MoreWhy in the news? Iran-Israel conflict escalation raises concerns over potential disruptions to global oil and LNG supplies via the Strait of Hormuz. source:wordpress About the Impact on Oil and LNG Prices: If Iran blocks the Strait of Hormuz, oil and LNG prices are expected to surge, impacting countries like India that rely heavily on …
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