Vikas Dwivedi, Global Oil and Gas Strategist at Macquarie Group, predicts that India will risk U.S sanctions and continue to buy oil from Russia. He says that crude from other sources are not optimal for New Delhi as Indian refineries are designed to run the crude that Moscow produces.

Delhi

India remains committed to buying Russian oil, citing the importance of affordable energy for its consumers and the compatibility of Russian crude with its refineries. Despite ongoing pressure and potential sanctions from the United States, India is unlikely to halt these imports entirely, though a slight reduction in volumes may occur. This stance has contributed to uncertainty and volatility in global oil markets, as India, along with China, represents one of the largest buyers of Russian crude. The situation underscores the complex interplay between energy security, international trade, and geopolitical tensions.

Why India will continue to buy Russian oil despite U.S. sanctions

I do want to get into to discuss the emerging flashpoint of India buying Russian oil and the U.S.'s displeasure as you heard from President Donald Trump a while ago. It's the latest wrinkle in global trade because India continues to say they will continue to buy Russian oil for the benefit of their consumers. The U.S. continues to try to pressure India at least to say to drop that actually. What kind of volatility is this introducing into the oil markets at the moment? Yeah, great question. It's introducing a lot of volatility in terms of the supply uncertainty from Russia. Like India is the second largest buyer and there's only really two big buyers of Russian crude that are China and India. India buys roughly 1.8 million barrels a day and it's roughly about what they export and refine products as well. So it's a big part of their refining business. It's a big part of their crude selection. Their refineries are designed to run very similar types of crude that Russia produces. So there's a lot of fit there for them to go elsewhere. There are other crudes like from the Arab Gulf but it's not optimal. And I think they're standing their ground on saying like this is something we need to continue to do. And obviously we know President Trump's displeasure at that. So market participants are getting whipped back and forth. Will India back off? Will Trump back off? Who's going to blink first? We actually think in the end India will go down a little bit on Russia, their imports, and then just let the water settle down and see where everything is at. But we really doubt that India will go to zero Russian oil and we think they'll continue to buy it and risk sanctions and other tariff related blowback from the United States in the process.

Two Palestinian gunmen opened fire at a bus stop on the outskirts of Jerusalem on Monday (September 8), killing six people in what police described as "a terrorist attack," one of the deadliest in the city in the past few years.

Jerusalem

Palestinian gunmen kill six at Jerusalem bus stop

U.S. President Donald Trump said he was ready to hit Russia with a second phase of sanctions after its largest air attack on Ukraine in nearly four years of war. The assault on Saturday caused serious damage in Ukraine's capital, including to one of its most important government buildings.

Washington

Ukraine Invasion

Trump considering second phase of sanctions on Russia

US President Donald Trump said he was prepared to move forward on new sanctions on Moscow, hours after Russia fired its biggest-ever aerial barrage at Ukraine. Russian missiles and drones rained down across Ukraine early Sunday, killing four people and setting government offices in the capital Kyiv ablaze.

Moscow

Global Tariffs

Trump ready to move on Russia sanctions after massive Ukraine attack

A drone launched by Yemen’s Houthi rebels struck southern Israel Sunday, hitting Ramon International Airport near Eilat and forcing a shutdown of airspace in the region.

Ilan and Asaf Ramon International Airport

Middle East Conflict

Yemen’s Houthi rebels strike Israel's Ramon International Airport

Protests have erupted in Chicago after U.S. President Donald Trump threatened a federal crackdown, including sending National Guard troops and expanding deportations.

Chicago

Chicago braces after Trump threatens National Guard deployment

Russia's largest overnight air attack of the war set the main building of the Ukrainian government in Kyiv on fire and killed at least four people, including an infant, Ukrainian officials said.

Kyiv

Russia launches biggest air attack of the war on Ukraine

Problems with a cable likely caused a Lisbon funicular railway popular with tourists to hurtle down a hill, killing at least 16 people and injuring another 22 when it crashed into a building, according to a preliminary report.

Lisbon

Deadly Portugal funicular crash likely due to problems with cable

U.S. indie director Jim Jarmusch unexpectedly won the coveted Golden Lion at the Venice Film Festival on Saturday with "Father Mother Sister Brother", a three-part meditation on the uneasy ties between parents and their adult children.

Venice

U.S. independent director Jim Jarmusch wins Venice top prize

Japanese Prime Minister Shigeru Ishiba said on Sunday (September 7) he has decided to resign, caving to ruling party pressure on him to take responsibility for a series of election losses amid voter anger over rising living costs.

Tokyo

Japan's Prime Minister Ishiba resigns after election losses

South Korea announced the deal on Sunday. The immigration raid was part of a criminal investigation targeting a major economic project of a key U.S. ally.

Savannah

South Korean workers detained in U.S. raid in Georgia to be released

Chicago officials agree that a federal crackdown on immigration is imminent. Saturday kicked off a week-long celebration of Mexican Independence Day.

Chicago officials agree a federal immigration crackdown is imminent

Wall Street took hits on the market after hiring slumped in August. The economy added 22,000 jobs, far below expectations, fueling fresh concerns about a slowdown.

Trump hits the links amid economic slowdown concerns

The United States is not talking about regime change in Venezuela, President Donald Trump said on Friday, as the United States ordered an additional 10 stealth fighter jets to a military buildup in the Caribbean.

Caracas

Trump plays down regime change in Venezuela amid military buildup

The Israeli military told Palestinians in Gaza City to leave for the south before bombing a high-rise tower as its forces advance deeper into the enclave's largest urban area.

Tel Aviv-Yafo

Israel tells Palestinians to leave as it pushes into Gaza City

US President Donald Trump's threats to deploy National Guard troops to Chicago, Baltimore, and New Orleans have ignited resistance from local leaders and residents, who argue the deployments serve as intimidation rather than crime prevention.

Trump to send National Guard to more cities

The White House said the U.S. is sending 10 F-35 fighter jets to Puerto Rico. It comes as the Defense Department confirmed that two armed Venezuelan F-16 fighter jets flew over a U.S. Navy ship in the region on Thursday.

U.S. to send F-35 fighter jets to Puerto Rico amid Venezuela tensions

President Trump signed an executive order to start the process of renaming the Department of Defense to the Department of War, restoring a name the agency last held in the late 1940s.

Trump orders Defense Department be renamed as Department of War

Xi and Kim, along with top officials from their countries, met on Thursday at Beijing’s Great Hall of the People a day after Kim attended a Chinese military parade alongside other foreign leaders including Russian President Vladimir Putin.

Beijing

China’s Xi and North Korea’s Kim meet in Beijing, pledge deeper ties

Two Venezuelan fighter jets flew over the USS Jason Dunham, multiple Defense Department officials confirm, calling the action a "show of force." CBS News' Willie James Inman and Charlie D'Agata report.

Two Venezuelan fighter jets fly over U.S. Navy ship, officials confirm

A massive Immigration and Customs Enforcement raid at a Hyundai manufacturing site in Georgia led to hundreds of immigrants being detained for apparently living and working in the U.S. illegally.

Massive ICE raid at Hyundai site leaves 475 detained in Georgia

Israel targeted a high-rise building in Gaza City, the military said in a statement. As the world braces for Israel's major military operation to seize Gaza's largest city, Hamas released a video purportedly showing two hostages, including one calling on Israel not to carry out its planned Gaza City offensive.

Israel strikes Gaza City high-rise building, Hamas releases another hostage video

US Secretary of State Marco Rubio is wrapping up a two-day trip to Latin America. It comes as the countries in the region watch the Trump administration step up military activity in the area, to combat drug trafficking and illegal migration.

Quito

U.S. mulls military base in Ecuador

A powerful aftershock struck eastern Afghanistan late on Thursday night. More than 2,200 people have already died the quake. Rescue crews are still searching remote villages, but rescue efforts are hampered by rough terrain and aftershocks. The World Food Programme says food stocks are running low and could be exhausted within weeks.

Kabul

Afghanistan quake death toll passes 2200 as food supplies run low

What happens in Ukraine once the war with Russia is over? France tells President Volodymyr Zelenskyy that 26 nations are now ready to offer security guarantees, including the possible deployment of foreign troops as part of a post-war peace arrangement.

Paris

Ukraine's European allies agree security guarantees

CEOs from some of the nation's biggest tech companies sat down for a dinner with President Trump on Thursday. Among those present were Tim Cook, Sam Altman, Bill Gates and Mark Zuckerberg.

Trump hosts Mark Zuckerberg, Bill Gates and other tech CEOs

U.S. President Donald Trump had a call with Ukrainian President Volodymyr Zelenskyy and other European leaders Thursday about Russia's war in Ukraine. CBS News White House reporter Olivia Rinaldi has more.

Trump speaks with Zelenskyy, pushes Europe to stop buying Russian oil

"With infinite sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani," the fashion house said in a statement on Thursday.

Milan

'King' of Italian fashion Giorgio Armani dies at 91

A federal judge on Wednesday ruled that U.S. President Donald Trump's administration unlawfully terminated about $2.2 billion in grants awarded to Harvard University and can no longer cut off research funding to the prestigious Ivy League school.

Breakdown