IBTimes India : Top News

Kylie Jenner wears Rs 210 crore diamond bra, lacy lingerie at Victoria's Secret runway show

Ruchita — Mon, 19 Oct 2026 15:39:17 +0530

It was a star-studded night at the Victoria's Secret Fashion Show, with Hollywood celebrities turning up the glamour quotient in the lingerie label's signature ensembles. From flaunting their curves in statement lingerie to serving bold beauty looks on the runway, the stars brought their A-game to the much-awaited fashion event.

Kylie Jenner made a surprise appearance at the show, marking her runway debut at the iconic lingerie event. Her boyfriend, Timothée Chalamet, was spotted cheering her on from the audience alongside her mother, Kris Jenner.

For her debut, Kylie wore this year's edition of the iconic Fantasy Bra, a dazzling creation reportedly worth $50 million. Designed by Jacob Arabo of Jacob & Co., the statement silver piece was adorned with 4,410 natural diamonds, including a remarkable 75.54-carat natural Fancy Vivid Yellow diamond at its centre. The remaining 4,409 diamonds weighed a combined 1,373 carats and featured an array of exceptional cuts, including Jacob & Co.'s signature Angel-Cut diamonds.

Kylie styled the showstopper with a low-slung silver thong that peeked out from beneath an iridescent white mini skirt. The metallic sparkle and shimmering fabric lent the ensemble a futuristic edge, while transparent heels kept the focus firmly on the statement look.

No Victoria's Secret Angel moment would be complete without wings. Kylie finished her ensemble with oversized, feathery white wings extending from her back, giving her runway debut a dramatic, celestial touch.

Meanwhile, Gigi Hadid stood out with her signature side part and brown-taupe lips, keeping her beauty look polished and understated. Bella Hadid, on the other hand, embraced a different aesthetic with softly defined, relaxed curls, thin brows and a subtle baby-wing eyeliner look.

JD Vance clarifies 'indentured servants' remark, says he loves his Indian in-laws amid H-1B visa row

Aanya Bhardwaj — Mon, 19 Oct 2026 14:12:23 +0530

US Vice-President JD Vance has sought to clarify his controversial remarks describing H-1B visa workers as "foreign indentured servants", saying his "rhetoric may have been imperfect" while defending his position on immigration policy.

Vance invoked his South Indian in-laws while responding to criticism of his comments, saying he loved them and believed the United States should welcome immigrants who contribute to the country. However, he stressed that the American immigration system must also protect the interests of domestic workers.

"You know where my family comes from, and I love my mother-in-law and father-in-law who immigrated from South India," Vance said. He added that he was proud of his wife, Usha Vance, whose parents immigrated from India and whose daughter is now the Second Lady of the United States.

JD Vance calls for balance in US immigration policy

Explaining his position, Vance argued that the US should strike a balance between welcoming skilled foreign professionals and ensuring that American workers are not unfairly displaced.

He cited the example of a large corporation hiring a foreign accountant while claiming it could not find a suitable candidate locally, even as it dismissed an American accountant already on its payroll.

Vance said such practices were unfair to both the immigrant worker and the American employee. He maintained that his criticism was directed at corporate hiring practices and the immigration system rather than at immigrants who wanted to contribute to the country.

"I do think that we can strike that balance in the right way. I think that our immigration system has to balance," he said.

What sparked the H-1B visa controversy?

Earlier this month, Vance urged US companies to prioritise American workers and criticised their reliance on foreign labour. He said companies should stop bringing in foreign workers to perform jobs that American employees could undertake.

His remarks came amid the Trump administration's suspension of several companies from the Permanent Labor Certification (PERM) programme, an important step in the employment-based green card process.

The companies affected reportedly included major technology firms such as Microsoft, Cognizant, Infosys, Tata Consultancy Services (TCS), Wipro, HCL and Capgemini. The PERM process allows eligible employers to sponsor foreign workers for permanent residency in the United States, subject to applicable requirements.

The controversy has brought renewed attention to the role of Indian professionals in the US workforce and the administration's efforts to prioritise domestic employment.

India calls Vance's remarks 'deeply offensive'

India had strongly criticised Vance's description of foreign professionals as "indentured servants", calling the remarks "unwarranted and deeply offensive".

The Ministry of External Affairs said the characterisation failed to recognise the contributions of highly educated and skilled Indian professionals to the US economy and innovation ecosystem.

The term "indentured servants" also carries historical significance, referring to workers bound by contracts and often subjected to exploitative conditions. During the colonial era, large numbers of Indians were transported to British colonies to work on plantations and in other labour-intensive sectors.

Vance's clarification comes amid continuing debate over H-1B visas, employment-based immigration and the balance between hiring foreign professionals and protecting opportunities for

Rupee rises 22 paise on RBI intervention despite crude oil pressure

Abhishek Trivedi — Mon, 19 Oct 2026 14:10:12 +0530

The Indian rupee traded 22 paise higher at 94.75 against the US dollar on Monday as Reserve Bank of India (RBI) intervention supported the currency despite pressure from elevated crude oil prices.

Earlier in the day, the local currency opened 8 paise higher at 94.89 from the previous close of 94.97 against the American currency.

The rupee is hovering near the 95-per-dollar mark which could be the RBI's soft defence line with repeated dollar sales helping limit weakness, according to experts.

Last week, the currency posted its best weekly performance in nearly four years, buoyed by central bank support and spot market intervention.

The RBI has stepped up intervention to support the rupee which remains under pressure from oil prices and capital outflows.

Market experts said FIIs continued selling in October with total selling of Rs 54,636 crore till October 16, higher than September total.

However, they reduced selling intensity in last few days and turned marginal buyers on October 16.

"The marginal decline in US 10-year yield from above 5.3 per cent to 5.08 per cent and strengthening of rupee to below 95 are significant factors for temporary change in FII stance," the experts said.

They added the brief change is likely more tactical than structural.

FIIs continued selling in financials and oil sectors but were buyers in consumer services like digital platforms, entertainment, restaurants and healthcare.

The sharp 2.77 per cent gain in Nifty during the week led to some short covering by FIIs, imparting resilience to banking stocks which had borne the brunt of selling.

In addition, crude oil prices remain a key pressure point. Brent crude briefly climbed above $110 a barrel on Friday for first time since May before easing more than 1 per cent to around $108 on Monday.

The decline in crude oil prices came after US President Donald Trump waived new sanctions on Russia and tariffs on Russian goods, potentially paving way for increased Russian fuel exports.

Srinagar-bound bus attack in Haryana sparks hate crime row; police cite altercation among three inebriated persons

Dinesh Manhotra — Mon, 19 Oct 2026 14:09:34 +0530

A Srinagar-bound bus attacked two miscreants, who were under the influence of liquor, in Haryana's Kurukshetra area.social media

An attack on a Srinagar-bound bus allegedly by two persons, leaving an elderly passenger injured in Haryana's Kurukshetra area, has snowballed into a major controversy, with leaders of separatist groups and mainstream political parties describing the incident as a hate crime.

The Haryana Police, however, said the incident involving a Jammu and Kashmir-bound private bus in Karnal followed an altercation between a passenger and two local men over giving way, with all three allegedly under the influence of alcohol.

The luxury bus, operated by Kashmir-based Star World Ventures, was travelling from Delhi to Srinagar with nearly 40 passengers when it was attacked at around 10.45 pm near Divine Star Dhaba.

According to the driver and passengers, unidentified men abused the driver and then hurled stones and bricks at the bus. The windowpanes and tail lights were smashed, and broken glass scattered across the sleeping berths. One passenger said the bricks were thrown with such force that they tore through the compartments.

The driver alleged that the leader of the group called the passengers terrorists and threatened not to allow vehicles from Jammu and Kashmir to operate in Haryana. An elderly passenger suffered facial injuries, and videos circulated on social media showed him bleeding.

The Karnal Police, however, gave a different account of the incident. They registered an FIR and detained two men, identified as Mohit and Sawan, both residents of Karnal district. The police ruled out a hate-crime angle.

A police spokesperson said the Butana Police Station was informed about the incident around 10 pm on October 17, following which a team reached the spot. The officers found the bus windows damaged. A preliminary inquiry suggested that the bus driver and occupants of a private car had argued over parking. The two accused allegedly smashed the windowpanes during the altercation, leaving one passenger injured.

Reports said no complaint was filed initially because both sides had reportedly reached a compromise, after which the bus continued its journey towards Srinagar. The FIR was registered later on in a complaint by the dhaba manager.

The Maruti Baleno allegedly involved in the incident has been seized, and the police said further legal action was under way. They also urged people not to believe rumours circulating on social media and rejected any communal angle to the incident.

Star World Ventures confirmed the attack. However, at the time of filing this report, the identities and motives of the alleged attackers had not been independently established.

Reaction from mainstream politicians and separatist leaders

Chief Minister Omar Abdullah took up the matter with the Haryana government and described the attack as unfortunate. His office said concerns over passenger safety had been raised and that the Haryana government had assured prompt and strict action under the law. In a post on X, Abdullah expressed hope that the Haryana government, led by Nayab Singh Saini, and the state police would apprehend those responsible and ensure that such incidents did not recur.

Mirwaiz Umar Farooq said he was disturbed by the attack and reports of threats against vehicles registered in Jammu and Kashmir. He urged the authorities to ensure the safety of Kashmiri travellers. National Conference spokesperson Imran Nabi Dar described the incident as a hate crime, saying that families travelling on the bus had been left terrified.

PDP leader Waheed Parra said hatred was making ordinary Kashmiris feel unsafe. He also questioned reports that the police had detained a Kashmiri passenger for nearly two hours after the attack and asked why a victim had been detained. Sajad Gani Lone, president of the Jammu and Kashmir Peoples Conference, said the targeting of a vehicle carrying ordinary citizens must not go unchallenged. Rajya Sabha MP Chowdhary Mohammad Ramzan termed the stone-pelting incident unacceptable.

BJP leader Zorawar Singh Jamwal described the incident as a serious law-and-order failure and called for swift action against those involved. Grand Mufti Nasir-ul-Islam Farooqi demanded an impartial investigation. Nasir Khuehami, national convenor of the Jammu and Kashmir Students Association, questioned why Kashmiris should have to fear for their lives simply because their vehicles carried Jammu and Kashmir registration plates.

Kashmir Transporters Federation president Mir Mohammad Shafi said the incident had alarmed transport operators and raised concerns that Kashmiris could face difficulties earning a livelihood outside the Union Territory. He urged the Haryana and Delhi governments to ensure the safety of Kashmiri drivers and passengers.

Haryana Police attribute incident to altercation

Meanwhile, Haryana Police reiterated that the incident resulted from an altercation involving a passenger and two local men over giving way, with all three allegedly having consumed alcohol.

Speaking to reporters in Karnal, Butana Police Station in-charge Vipin Kumar said the police received a call through the Police Response Vehicle (PRV) regarding a dispute involving a private bus parked near Divine Star Dhaba and a car.

Kumar said the two occupants of the car, identified as Mohit and Sawan, residents of Unispur village, were involved in an altercation with a passenger identified as Syed Arfat.

He said the passenger and the two car occupants had consumed alcohol before the altercation, during which three to four windowpanes of the bus were damaged.

"We are investigating against those boys," Kumar said, adding that the police had reviewed CCTV footage showing two men involved in a fight with the bus passenger.

He said the police had repeatedly asked the passenger to submit a formal complaint to facilitate further investigation, but no formal complaint had been received so far.

Kumar also denied any communal or region-specific angle to the incident, saying it was unrelated to the bus being registered in Jammu and Kashmir.

"There was nothing like that. It was a fight between two sides after drinking," he said, urging people to verify facts before sharing videos on social media that could potentially disturb communal harmony.

The police officer acknowledged that a passenger had been injured, although his remarks did not establish the exact circumstances in which the injury occurred. The bus subsequently left the area during the night.

Shirtless Tiger Shroff shows chest dressing and bandaged right arm to Eknath Shinde after gunshots firing

Ruchita — Mon, 19 Oct 2026 14:05:07 +0530

The first visuals of Bollywood actor Tiger Shroff just after the firing incident in Mumbai's Juhu area have been shared by Maharashtra Deputy Chief Minister Eknath Shinde's team. Shinde met the injured actor after unidentified assailants allegedly opened fire at his car late on Sunday night, October 18.

The visuals show Tiger seated beside Shinde, with a dressing on his chest and his right arm wrapped in a bandage. The clip shows Tiger sitting shirtless and showing his wound to Shinde.
While the actor is safe, his driver sustained injuries in the incident.

Shinde described the incident as deeply concerning and assured that strict action would be taken against those responsible. He said he had spoken to the Mumbai Police Commissioner, who has formed several teams to track down and apprehend the accused.

"Our current priority is to keep Mumbai and its citizens safe. Whether it is a celebrity or an ordinary citizen, ensuring their safety is the responsibility of both the police and the government. There will be no laxity in this regard, and no gang, whoever they may be, will be spared," Shinde said while interacting with the media.

Maharashtra Chief Minister Devendra Fadnavis has also directed the Police Commissioner to investigate the matter immediately and take strict action against those found responsible.

Tiger Shroff attack: First visuals of suspected shooters emerge

The first images of the suspected shooters have surfaced as Mumbai Police continue their investigation. Thier photos and visuals were taken from the CCTV footage near the shootout site; the visuals show two men wearing white shirts, with one of them sporting a black cap bearing the Puma logo.

According to the investigation, the three accused allegedly reached Andheri railway station after the firing and abandoned the motorcycle used in the attack before fleeing. Police have seized the two-wheeler and are examining its registration details, number plate, chassis and engine numbers to establish its history. Preliminary findings suggest that the vehicle is registered in Mumbai.

Visuals of attackers firing at Tiger Shroff's car

Videos of the incident have surfaced on social media, showing two unidentified men firing at Tiger Shroff's car from different positions. One attacker is seen firing from the front of the vehicle, while the other shoots from the side, near the passenger seat.

The second attacker is also seen aiming his gun towards the spot where Tiger was seated inside the car. However, the weapon reportedly jammed, preventing him from firing, which may have saved the actor. The attacker then attempts to open the car door but fails, before both men flee the scene on a motorcycle.

It remains unclear whether the attackers knew where Tiger was seated inside the vehicle when the firing took place.

In footage recorded by a bystander, the car is seen approaching the exit gate of a football ground in Juhu as people gather to catch a glimpse of the actor. As the vehicle leaves the premises, five gunshots can be heard in quick succession, followed by screams from people at the scene.

Another video shows the actor taking control of the car and rushing his injured driver to a hospital. Tiger is seen moving from the passenger seat to the driver's seat before driving away to seek medical assistance. Blood is visible on the car door and on the road.

People at the scene can be heard urging the actor to hurry, shouting, "Jaldi Leke Jao, Tiger. Go fast, go fast, bhai."

AICWA questions safety in Mumbai after Tiger Shroff attack

The All Indian Cine Workers Association (AICWA) has also expressed deep anguish over the incident, stating that the attack on Tiger Shroff was not an isolated occurrence.

Questioning the safety of citizens in Mumbai, the association said in a post on X, "Today it is Tiger Shroff. Who is next? When a celebrity is not safe in the heart of Mumbai, how can an ordinary Mumbaikar feel safe? (sic)."

J&K Police book army officer's wife for allegedly sharing sensitive information with foreign agents.

Dinesh Manhotra — Mon, 19 Oct 2026 14:04:30 +0530

Jammu and Kashmir Police have registered a case against the wife of an Army officer on charges of collecting sensitive information related to national security and allegedly sharing it with foreign intelligence agents, some of whom are suspected to be linked to China.

The case was registered at Gandhi Nagar police station in Jammu against a resident of Secunderabad, Telangana, for allegedly maintaining contacts with foreign intelligence agencies and sharing sensitive information. According to police sources, the woman had visited the Satwari military area.

Case registered under the Official Secrets Act

Police have registered a case under the Official Secrets Act and relevant provisions of the Bharatiya Nyaya Sanhita (BNS) relating to conspiracy and the alleged unauthorised transmission of sensitive information through digital or electronic means.

According to official sources, the woman's activities came under suspicion following the receipt of credible information. She is alleged to have collected, possessed and transmitted sensitive documents, photographs and electronic data related to national security.

Suspected links with foreign intelligence agencies

Investigators suspect that the information may have been transmitted to foreign intelligence agencies, including those linked to China, through encrypted communication channels.

However, police have not yet disclosed the nature of the documents or information allegedly shared, the identities of the foreign contacts or the extent of the information that may have been transferred. The suspected involvement of foreign intelligence networks is also being investigated.

Reports said the accused had allegedly used artificial intelligence tools to prepare analytical papers on sensitive national security issues for Chinese intelligence operatives.

She reportedly undertook an IT internship with the United Nations in 2023 and was working as a freelance researcher. According to official sources, she was booked following allegations that she had been in contact with foreign handlers and had passed on classified or strategically relevant information.

The accused was not arrested but was questioned after the registration of the FIR and was cooperating with the investigating agencies, officials said.

According to sources, she was living in Jammu with her husband and was questioned by a Deputy Superintendent of Police (DSP) as part of the investigation.

Probe underway

Authorities have confirmed the registration of an FIR under the Official Secrets Act and the BNS. The investigation is aimed at establishing whether the accused accessed confidential documents or electronic records and whether any sensitive information was actually passed on to foreign agencies.

Police have not yet released details of any seizures, searches or further action in the case.

Given Jammu and Kashmir's strategic importance, the case is being viewed as significant from a national security perspective. The Jammu Police have launched a detailed investigation to establish the facts, identify any possible collaborators and determine whether the accused was part of a larger network.

The allegations against the woman remain under investigation.

India advises its citizens in Saudi Arabia to take due precautions amid prevailing situation

Kunal Gupta — Mon, 19 Oct 2026 14:03:44 +0530

India on Sunday advised its nationals in Saudi Arabia to take due precautions under the prevailing situation, visit the nearest safe place in case of an aerial attack, and refrain from filming, publishing or sharing any information, photos and videos regarding the ongoing events.

"The Indian Community in Saudi Arabia is advised to take due precautions under the prevailing situation. In case of an aerial attack, immediately proceed to the nearest safe place (inside a building or an interior room away from windows), and refrain from filming, publishing, or sharing any information, photos, or videos related to the ongoing events," the Indian Embassy posted on X.

The Embassy said that its officials continue to visit hospitals where Indian nationals are undergoing treatment and are in constant touch with their families and providing necessary assistance.

It stated that flight operations remain shut at Riyadh's international airport. According to the statement, Dammam, Jeddah, and Medina airports remain operational, although some disruptions continue. The Embassy mentioned that Indian carriers have suspended flight operations to and from Saudi Arabia. It also mentioned details about the available flight options for people who wish to travel to India.

"Indian carriers have extended the suspension of flights to and from Saudi Arabia, as outlined below: Air India, Air India Express, Indigo-until Oct 24, on all routes. Akasa Air- until Oct 27, on all routes," it posted on X.

"Some available flight options are outlined below: Saudia: Scheduled flights to India from Dammam, Jeddah and Medina. Flynas: Dammam–Delhi and Dammam–Mumbai flights (Oct 17–24); scheduled Dammam–Lucknow services continue. Flyadeal: Dammam–Mumbai flights on Oct 17–18," it added.

The Indian Embassy in Saudi Arabia stated that Indian nationals who need urgent departure may consider transiting through Bahrain, Kuwait, or Qatar, subject to obtaining the necessary visas. It advised Indian nationals planning to travel to Saudi Arabia, including for Umrah, to take into account ongoing disruptions at Saudi airports and the possibility of flight cancellations, which may result in extended stays. It urged people to contact 24x7 control rooms in case of queries.

India has reiterated its condemnation of attacks targeting civilian infrastructure in Saudi Arabia, terming them "unacceptable" while expressing solidarity with Saudi Arabia in defence of its sovereignty.

Addressing a bi-weekly media briefing in New Delhi on Wednesday, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal expressed hope that peace and normalcy return to the region soon.

He said that the Indian Embassy in Saudi Arabia has remained in regular touch with the Indian community and also issued advisories.

"In so far as the situation of our people, we have a large diaspora there. We've also, our Embassy in Saudi Arabia... they have been in regular touch with our community members for their welfare. At the same time, they've issued advisories. We also have a lot of travellers between Saudi Arabia and India. Some of them have been impacted because there have been disruptions in the flight schedule after the attack on the Riyadh International Airport and other airports that happened in Saudi Arabia. Indian carriers have been impacted. There have been disruptions. But, Saudi Arabian Airlines, several flight operations are happening. Those flights are moving between India and Saudi Arabia.

Sensex, Nifty open flat amid mixed global cues; crude oil prices, FII activity in focus

Aarav Mehta — Mon, 19 Oct 2026 14:03:09 +0530

Domestic equity benchmarks opened on a flat note on Monday tracking mixed global cues and momentum from last week's gains.

Sensex opened at 74,849.30, up 120.03 points or 0.16 per cent, while Nifty began trading at 23,150.85, up 4.70 points or 0.02 per cent.

Sectorally, Nifty PSU Bank led gains and rose over 1 per cent, followed by Nifty Oil & Gas which surged 0.6 per cent.

In contrast, Nifty Private Bank, Nifty IT and Nifty Chemicals dropped up to 1 per cent.

Market experts said momentum from Nifty's 2.8 per cent surge last week and good results from banking majors after better-than-expected IT earnings could keep the market resilient.

"However, escalation of tensions in Hormuz and consequent surge in Brent crude to $109 will act as a strong headwind," according to them.

They further said that attractive large-cap valuations and rupee appreciation turned FII stance slightly positive, though unlikely to sustain at high crude prices. Large-caps outperforming mid and small-caps is likely to continue, with stock-specific action on Q2 results.

For Nifty, immediate support is placed at 22,950–23,000, while resistance is seen at 23,250–23,300, the experts said and added that RSI strengthened to 52.81 above its average of 34.70, while PCR stood at 1.08.

In the previous session on October 16, FIIs turned net buyers after 15 straight sessions of selling, buying equities worth about Rs 1,166 crore, while DIIs ended their 45-session buying streak with net sales of around Rs 3,661 crore.

On commodities, Brent crude traded nearly 2 per cent lower at around $107.76 per barrel, while US WTI declined about 1 per cent to $100.43.

In Asia, markets were mixed. Japan's Nikkei traded 0.84 per cent lower, while Hong Kong's Hang Seng and South Korea's KOSPI rose up to 0.83 per cent. Indonesia's Jakarta Composite fell over 5 per cent.

Tiger Shroff firing case: All 3 accused held in Kota identified, including 17-year-old minor; one is Rapido rider from Mumbai

Ruchita — Mon, 19 Oct 2026 14:02:49 +0530

Three alleged shooters suspected of being involved in the firing incident targeting Bollywood actor Tiger Shroff have been detained at Rajasthan's Kota railway station while travelling by train, sources said on Monday.

The suspects were apprehended during a joint operation by the Rajasthan Anti-Gangster Task Force (AGTF) and Kota City Police. They are currently being interrogated, and a juvenile is among those detained.

One of the accused has been identified as Hritik Kumar alias Roshan, 22, a native of Piprai village in Bihar's Begusarai district. He was reportedly living near Urdu School in Mumbai's Andheri West and working as a bike rider. Another accused, identified as Rehan, 18, is a resident of Sonipat in Haryana. The identity and details of the third suspect have not been fully established in the available information.

According to news agency ANI, investigating agencies suspect that the accused had conducted reconnaissance of Shroff's movements before carrying out the attack. Sources said the assailants allegedly monitored the actor's weekly routine and knew that he regularly visited the Juhu football ground on Sundays. They are suspected of timing the attack as he was leaving the venue in his car.

The firing took place in Mumbai's Juhu area at around 7 pm on October 18, 2026, when two unidentified men allegedly approached Shroff's vehicle and opened fire from the front and left side as it exited the school grounds and turned left. The actor escaped without injuries, while his caretaker and driver, Firdos Ibrahim Baloch, and another person in the area sustained bullet injuries.

Following the shooting, the assailants allegedly fled along SV Road through Vile Parle and Andheri. They reportedly abandoned their motorcycle near Andheri West railway station and boarded a train towards Borivali. Preliminary intelligence cited by ANI suggested that the suspects later crossed into neighbouring Gujarat while attempting to evade law enforcement.

The Juhu Police registered a case against three unidentified persons in connection with the incident. The FIR invokes Sections 109(1) and 3(5) of the Bharatiya Nyaya Sanhita (BNS), along with relevant provisions of the Arms Act. Police are investigating the incident to establish the roles of those involved.

The Lawrence Bishnoi gang has reportedly claimed responsibility for the attack in a social media post that has circulated widely. However, the police have not yet verified the authenticity of the claim.

Interrogation of the detained suspects is underway at Kota City Police Station, and further details are awaited.

India's imports of Russian crude dip in Sep amid price rise

Nisha Rao — Sun, 18 Oct 2026 21:20:14 +0530

India's imports of Russian crude declined 13 per cent in September, the second consecutive monthly decline and the lowest since April amid rising prices due to the escalating Middle East conflict which has choked the Red Sea trade route apart from the Strait of Hormuz, according to a report Centre for Research on Energy and Clean Air (CREA).

Imports at the Reliance-run Jamnagar refinery fell by 27 per cent, Indian Oil Corporation's (IOC) Paradip by 21 per cent and Nayara Energy's Vadinar by 8 per cent.

India was Russia's second-largest fossil fuel buyer in September, importing 4.1 billion euros worth of Russian hydrocarbons, 88 per cent of it crude. Only China bought more. Since December 2022, India has taken 37 per cent of Russia's crude exports, against China's 50 per cent, according to the CREA report.

Meanwhile, in a major relief for India and China, US President Donald Trump issued an executive order on Friday to waive many sanctions and tariffs tied to Russian oil exports, a day before they were set to take effect under a bill he signed last month. Trump said the waiver has been sanctioned in the USA's "national interest." This will enable the two countries to continue imports of Russian oil at current levels.

In September 2026, the average price of Russia's Urals-grade crude rose by 32 per cent month-on-month to USD 90.7 per barrel, the highest monthly average since April 2026 and more than double the EU and UK price cap of USD 44.1 per barrel, which took effect on 1 February 2026 and has been capped at the same level under the EU's 21st sanctions package, according to a CREA report.

Global fossil fuel prices remained high in September despite a more than 60 per cent month-on-month increase in the volume of oil transported through the Strait of Hormuz, based on detected vessel crossings. These volumes remained well below levels recorded before the US and Israeli strikes on Iran.

The Hormuz energy crisis has delivered a substantial boost to Russia's fossil fuel export earnings. CREA's recent analysis estimates that, in the six months since the US–Israel strikes on Iran began, higher oil and gas prices have increased Russia's seaborne export revenues by an estimated USD 35.9 bn (equivalent to EUR 31 bn).

Russia's fossil fuel exports remain highly concentrated, with China dominating purchases of coal and crude oil, Turkiye leading purchases of oil products, and the EU remaining the largest buyer of LNG and pipeline gas — showing Moscow's dependence on a narrow set of key customers, the CREA report added.