CURRENT AFFAIRS

After the Supreme Court of the United States struck down tariffs imposed under the International Emergency Economic Powers Act (IEEPA), President Donald Trump invoked Section 122 of the Trade Act, 1974 to reimpose trade levies.

Recent statements by US President Donald Trump have created a new stir in India's energy sector. President Trump indicated that India has agreed to purchase more crude oil from the US, which could include Venezuelan oil.

US President Donald Trump convened the first meeting of the “Board of Peace” in Washington to deliberate on Gaza’s reconstruction and broader global conflict issues. India participated in the meeting as an observer, signalling cautious engagement.

The Supreme Court of the United States, in a 6–3 ruling, struck down President Donald Trump’s sweeping tariffs imposed under the International Emergency Economic Powers Act (IEEPA), 1977.

International oil prices have climbed to a six-month high amid escalating tensions between the United States and Iran, raising fears of potential American military strikes on Tehran.

The African Union recently hosted its annual summit in Addis Ababa, Ethiopia, bringing together leaders of its 55 member states to deliberate on regional security, economic integration, climate resilience, and Africa’s role in global governance.

India and Malaysia signed multiple agreements during Prime Minister Narendra Modi’s visit to Kuala Lumpur in February 2026, marking a significant deepening of their Comprehensive Strategic Partnership and expanding cooperation across defence, technology, energy, and economic domains.

The formal expiration of the New START Treaty on February 5, 2026, marks a significant turning point in the history of global security. The end of the legal obligations that had limited nuclear weapons between the United States and Russia for the past five decades has raised the threat of a new nuclear race.

India and the Gulf Cooperation Council (GCC) have signed the Terms of Reference (ToR) for a Free Trade Agreement (FTA) in New Delhi, formally launching negotiations for a comprehensive trade pact.

US President Donald Trump announced a sharp reduction in tariffs on Indian goods from 50% to 18%, claiming that India has agreed to stop buying Russian crude oil and instead increase purchases from the US and Venezuela. While India welcomed the trade deal, it has not confirmed any commitment to halt Russian oil imports, signalling that energy security remains its top priority.