US Treasury Secretary Scott Bessent criticized India's Russian oil purchases, deeming it \"arbitrage\" and accusing them of profiteering by reselling re

Trade between Russia and the U.S. started to grow under Donald Trump, Russian President Vladimir Putin noted after meeting his counterpart in Alaska. The upward tick comes after a decade of steep decline that set in amid a bitter geopolitical clash over Moscow’s military intervention in neighboring Ukraine.

US President Donald Trump is threatening tariffs on other countries that buy Russian oil, in an attempt to pressure Moscow to end the war in Ukraine. But the United States and Europe themselves are still doing billions of dollars in trade with Russia.

A call between the leaders of Russia and India affirmed the countries’ close ties despite Washington’s demands for New Delhi to wean itself off Russian oil. Indian Prime Minister Narendra Modi on Monday thanked his “friend,

Major questions remain over what both sides might accept after Trump held successive talks with Putin and Zelensky.

Over recent months, the Kremlin has been trying to move the diplomatic focus away from Ukraine to bilateral issues, such as trade and strategic stability.

Russia’s exports contracted for a fifth month in June as weaker global commodity prices continued to weigh on trade.

Russia and Ukraine continued to exchange long-range drone and missile strikes on the eve of the summit. Ukraine’s military said on Friday morning that it had hit several targets inside Russia, including an oil refinery and a port that Moscow uses to import military supplies from Iran.

In Russia, barter is back for the first time since the chaos of the 1990s as settlement problems resulting from the conflict in Ukraine have forced at least one Chinese company to seek steel and aluminium alloys in exchange for engines.

President Donald Trump is ratcheting up the pressure on India, calling into question the prospects of a deal with a key US trading partner just days before his tariff deadline.

The visit that was expected to take place between Aug. 25 and Aug. 29 will likely be rescheduled, NDTV reported, citing people familiar with the matter.