return to news
  1. What Does A 100% Tariff On Russian Oil Actually Mean For India | Markets Today #281

Market News

What Does A 100% Tariff On Russian Oil Actually Mean For India | Markets Today #281

SUMMARY

📌 In this episode of Markets Today, we decode three big stories: the US Senate’s proposed 100% tariffs on major Russian oil buyers and the risk for India, L&T’s bid for the ₹7,280 crore rare earth magnet incentive to build 6,000 MT capacity, and Apple Pay’s India launch in October with Visa and Mastercard support but no UPI at launch.

📌 In this episode of Markets Today, we decode 3 big stories — the US Senate threatening 100% tariffs on Russia's top oil buyers, L&T bidding for India's ₹7,280 crore rare-earth magnet incentive, and Apple Pay launching in India this October without UPI.

#1 🛢️ Russia Oil Tariff Bill — India's Risk US Senate passes bill (86-11) for up to 100% tariffs on top 5 Russian crude buyers. India imports ~2.6M bpd — over half its total crude. Wide presidential waiver powers suggest negotiation leverage, not an immediate tariff.

#2 ⚙️ L&T's Rare-Earth Magnet Push L&T bids for ₹7,280 crore incentive targeting 6,000 MT/year capacity. Already building EV traction motors with EVR Motors. A major diversification from its construction core.

#3 📱 Apple Pay India — No UPI Yet Rollout supports only tokenised Visa/Mastercard via NFC. UPI missing at launch — authentication mismatch, NFC differences, and India's near-zero UPI fees vs Apple's global 0.15-0.20% cut.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story