Welcome back to Overtime. President Trump is hoping to sign trade deals with several major Asian countries, including Japan, during his trip to the region this week, but one major country appears to be getting shut out of trade talks. Sema Modi joins us now.She has the details. Hi, Sema. >> Morgan, foreign policy experts agree that India should be the lynch pin of President Trump's Asia visit.Two largest democracies in the world, billions of dollars invested by hyperscalers in the country, and yet trade tal ...

India casts doubt on Trump's claim Modi will stop buying Russian oil https://t.co/EhzEC37RGS ...

Import Strategy - Indian refiners are projected to increase oil imports from Russia in the coming months [1] Geopolitical Factors - Trade talks with Washington are experiencing delays, influencing India's import decisions [1]

Oil Imports - India's oil imports from Russia decreased in September [1] - Russia remains a leading oil supplier to India, accounting for approximately one-third of overall shipments [1] Geopolitical Context - The US is attempting to reduce oil flows to Russia, alleging they support the war in Ukraine [1]

Geopolitics & Energy Security - Indian officials indicate a substantial decrease in Russian oil imports may necessitate crude acquisitions from sanctioned entities like Iran [1]

The EU is considering trade measures to target its remaining Russian oil imports, primarily into Hungary and Slovakia, said people familiar with the matter https://t.co/6Z76NqoleA ...

Geopolitical Landscape & Negotiations - A summit between President Trump and Russia's President Putin is tentatively scheduled for the end of next week [1] - The UAE is potentially the front runner to host US-Russia talks [2] - The negotiations may exclude Ukraine (Zalinsky) and potentially the Europeans [4] Sanctions & Energy Policy - Anticipation exists that US-Russia talks could lead to sanctions relief, but European authority over energy sanctions is crucial [5] - Europe's commitment to halt Russian oil imports by summer 2022 led to US concerns about market disruption [6] - The US implemented price caps to facilitate the movement of Russian oil to countries like India [7] - India's Russian oil imports have increased by approximately 1 million barrels per day since the start of the war [8] - The US is considering higher tariffs on India if it continues to import Russian oil, creating a point of contention [9] - The Europeans have implemented the most significant energy sanctions [11] Trade Deals & Market Impact - A trade deal with Europe includes $750 billion of US energy purchases over three years, potentially displacing Russian energy [11] - Crude prices are rangebound and down due to anticipation of talks rather than immediate tariff announcements [9][10]

Geopolitical Implications - Russia's oil imports are a point of irritation in India-US relations [1]

Economic Outlook - Falling oil prices improve the outlook for the Philippine economy [1] - The Philippine economy is heavily reliant on oil imports [1] Currency Performance - The worst may be over for the Philippine peso [1]