Trump’s penalty threat puts India in a bind over Russian oil
The Reliance Industries Ltd. oil refinery in Jamnagar, Gujarat, India, on Saturday, July 31, 2021.
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India is navigating a tricky balancing act after U.S. President Donald Trump threatened a “penalty” over its continued imports of Russian oil — a trade that New Delhi appears reluctant to end anytime soon.
Despite Trump telling reporters Friday that he “heard” India would halt purchases, officials in New Delhi have remained noncommittal. Foreign ministry spokesperson Randhir Jaiswal said that the country decides its energy import sources “based on the price at which oil is available in the international market and depending on the global situation at that time.”
“The Indians must be having some confusion” following Trump’s threat — a reversal from the more tolerant approach taken under the Biden administration, Bob McNally, president of consulting firm Rapidan Energy Group, told CNBC’s “Squawk Box Asia.”
“Now we’re flipping around and saying, ‘What are you doing taking all this Russian oil?'” McNally said.
In March 2022 — a month after Russia launched its full-scale invasion of Ukraine — Daleep Singh, a former U.S. deputy national security adviser for international economics in the Biden administration, reportedly said that “friends don’t set red lines” and “there is no prohibition at present on energy imports from Russia.”
“What we would not like to see is a rapid acceleration of India’s imports from Russia as it relates to energy or any other exports that are currently being prohibited by us or by other aspects of the international sanctions regime,” Singh said.
On July 30, Trump announced that India would face a 25% tariff beginning Aug. 1, along with an unspecified “penalty” for buying Russian oil and military equipment.
But analysts suggest that India, which is the third-largest energy consumer in the world, isn’t blinking. Reuters reported that there are no immediate changes planned to India’s long-term contracts with Russian suppliers, citing two anonymous Indian government sources that did not wish to be identified due to the sensitivity of the matter.
Russia has become the leading oil supplier to India since the war in Ukraine began, increasing from just under 100,000 barrels per day before the invasion, or a 2.5% share of total imports, to more than 1.8 million barrels per day in 2023, or 39%. According to the International Energy Agency, 70% of Russian crude was exported to India in 2024.
India’s energy minister Hardeep Singh Puri defended New Delhi’s actions in a July 10 interview with CNBC, saying that it helped stabilize global prices and was even encouraged by the U.S.
“If people or countries had stopped buying at that stage, the price of oil would have gone up to 130 dollars a barrel. That was a situation in which we were advised, including by our friends in the United States, to please buy Russian oil, but within the price cap.”
Russian oil exports had been capped at $60 per barrel in December 2022 by the Group of Seven nations, representing the world’s top economies, while the European Union had lowered the price cap to just above $47 per barrel in July.
Still, pressure is mounting. Vishnu Varathan, Managing Director at Mizuho Securities, said that the U.S. threats present a “clear and present danger” to India. He said that New Delhi is likely to remain non-committal on oil purchases as it assesses the trade-offs of this “Russia option” as a bargaining chip.
India will need to scour the global market for comparable oil bargains with Russian oil, Varathan, who is also the head of macro research for Asia ex-Japan, added.
New Delhi could explore alternatives, including Iran — if an exemption from the U.S. can be negotiated — as well as a few other producers “either within or outside of the OPEC+ that have been pressured by the U.S,” Varathan said.
The OPEC+ bloc had agreed on Sunday to raise output by 547,000 barrels per day in September, as concerns mount over potential supply disruptions linked to Russia.
India is going to face a tough choice, Rapidan’s McNally said.
“Trump is serious. He’s frustrated with Putin… India is going to have a tough choice to make, but it’s hard to see them continuing to import that a million and a half barrels [of] Russian crude if Donald Trump decides to really put the whole relationship on the line over it.”
A new review of US Energy Information Administration (EIA) data by the SUN DAY Campaign reveals that solar delivered almost 9% of US electricity in the first half of 2025. Wind and solar combined produced just over one-fifth of the country’s electricity, while renewables as a whole hit nearly 28%.
Solar’s record-breaking growth
EIA’s latest monthly Electric Power Monthly report (with data through June 30, 2025) confirms that solar kept its streak as the fastest-growing major source of US electricity. In June 2025 alone, solar soared. Utility-scale solar power plants cranked out 30.1% more electricity than in June 2024, while rooftop and other small-scale solar systems grew by 10.5%. Combined, solar generation jumped 25% year-over-year and made up 10.2% of US electricity that month.
Looking at the first six months of 2025, utility-scale solar expanded by 37.6%, and small-scale systems rose 10.7%. Together, they grew nearly one-third (29.7%) compared to the same period in 2024. That meant solar provided 8.7% of all US electricity in January-June, up from 6.9% the year before.
That’s a milestone: Solar is now producing almost 45% more electricity than hydropower (6.0%), and it’s generating more than hydropower, biomass, and geothermal combined.
Wind is still a front-runner
Wind turbines supplied 11.6% of US electricity in the first half of 2025 — a 2.4% boost compared to the same time in 2024. Wind’s output was almost double hydropower’s contribution.
Wind + solar are beating coal and nuclear
Together, wind and solar accounted for 20.3% of total US electricity in the first half of 2025, up from 18.6% last year. That’s a bigger share than coal or nuclear. In fact, wind and solar generated 25% more electricity than coal and 15.6% more than nuclear over the same period.
Renewables overall are surging
All renewable sources combined – wind, solar, hydropower, biomass, and geothermal – generated 27.7% of US electricity from January through June 2025, up from 26.1% a year ago. Their output grew three times faster than total US electricity generation overall (9.2% vs. 3.0%). Renewables are now second only to natural gas, whose generation actually dropped 3.7% in the first half of the year.
Ken Bossong, executive director of the SUN DAY Campaign, added that this growth happened before the passage of the Trump/Republican “megabill,” which could slow future renewable expansion. “Nonetheless, EIA notes that US developers expect half of new electric generating capacity to come from solar in 2025 and another 13% from wind.”
Read more: EIA: Solar outproduced wind for the first time ever in May
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The new and improved Hyundai IONIQ 5, or the hot-selling Chevy Equinox EV? Which electric SUV makes the smarter lease? Here’s the rundown.
Over 607,000 electric vehicles were sold in the US in the first half of 2025, thanks to some big discounts. Many automakers are currently offering generous savings, as Trump’s “One Big Beautiful Bill” is set to end federal EV incentives at the end of September.
According to Cox Automotive’s latest EV Market Monitor report, EV incentives reached a record of nearly $8,500 in June, or about 15% off the average transaction price (ATP).
That’s more than double the incentives offered on gas-powered vehicles. Seven electric vehicles had an ATP below $40,000, including the Chevy Equinox EV. The Equinox EV was the top-selling EV in the price range.
Starting at just $34,995, GM calls it “America’s most affordable 315+ range EV.” The electric Equinox has already propelled Chevy to become the number two EV brand in the US behind Tesla.
Through the first half of the year, the Chevy Equinox EV accounted for nearly a third of GM’s electric vehicle sales. And it could have sold even more. A dealer in California reached out to Electrek, claiming they had to wait over a month to receive Equinox EV models. It’s now on track to be among the top three selling EVs in the US.
Which EV to lease: Chevy Equinox EV or Hyundai IONIQ 5
With leases starting at just $289 per month, it’s no wonder the electric SUV is flying off the lot. The offer is for 24 months with $3,909 due at signing.
Alternatively, you can opt for 0% APR financing for 60 months, which Chevy is offering on all 2025 electric vehicle models.
| 2025 Chevy Equinox EV trim | Starting Price | EPA-estimated Range | Monthly lease Price (August 2025) |
| LT FWD | $34,995 | 319 miles | $289 |
| LT AWD | $40,295 | 307 miles | $351 |
| RS FWD | $45,790 | 319 miles | $416 |
| RS AWD | $49,090 | 307 miles | $453 |
The base 2025 Chevy Equinox EV LT starts at $34,995 with up to 319 miles of range. The interior boasts up to 57.2 cu ft of space and a 17.7″ infotainment screen.
How does it compare to the IONIQ 5? Hyundai has upgraded its best-selling electric SUV with major improvements, including increased range (now up to 318 miles), a revamped interior and exterior, and a built-in NACS port to access Tesla Superchargers.
After cutting lease prices again last month, the new and improved 2025 Hyundai IONIQ 5 is now listed at just $179 per month.
In some places, such as California and other ZEV states, Hyundai is offering leases starting at as low as $159 per month.
However, that’s for the base SE mode, which has an EPA-estimated driving range of 245 miles. The longer-range IONIQ 5 SE RWD, with 318 miles range, can still be leased for just $199 per month right now. Both offers are for 24 months with $3,999 due at signing.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price August 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
Hyundai is also throwing in a complimentary ChargePoint Level 2 home charger with the purchase or lease of a new 2025 IONIQ 5. All IONIQ 5 trims are listed with 1.99% APR financing for up to 60 months.
The 2025 Hyundai IONIQ 5 offers up to 59.3 cu ft of cargo space with a dual 12.3″ driver display and infotainment system setup.
Both the Hyundai IONIQ 5 and Chevy Equinox EV are hard to pass up right now, with lease prices expected to be as low as they will ever be.
Looking to snag the savings while they last? You can use our links below to find offers on the Chevy Equinox EV and Hyundai IONIQ 5 near you.
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Nissan has officially confirmed the icon will be making a comeback. Although Nissan is no longer building GT-R models, CEO Ivan Espinosa said Godzilla will “evolve and reemerge” in the future. Here’s what we know so far.
Nissan confirms the GT-R will evolve and reemerge
It seems like we’ve been talking about the next-gen Nissan GT-R for years now. After the last model rolled off the production line at the automaker’s Tochigi plant in Japan on Tuesday, Nissan’s CEO made it clear that the GT-R will be making a comeback.
After bidding farewell to the R35, Espinosa gave the many GT-R fans worldwide hope, saying, “I want to tell you this isn’t a goodbye to the GT-R forever.”
He added that it’s Nissan’s “goal for the GT-R nameplate to one day make a return.” Although this is the end of the line for the R35, the company remains committed to the GT-R nameplate and wants to “reimagine it for a new generation.”
According to Espinosa, Nissan doesn’t have any finalized plans yet, but he promised that “the GT-R will evolve and reemerge in the future.”
Nissan says the next Godzilla will ensure the GT-R’s legacy lives on, but will pack even more performance. The big question is, what type of powertrain will it arrive with? Will it be electric? A hybrid? Or, will it still be gas-powered?
At the New York Auto Show in April, Ponz Pandikuthira, Senior Vice President and Chief Planning Officer for Nissan North America, told The Drive that the next GT-R will be a hybrid, rather than an all-electric.
However, Nissan previewed an electric GT-R a few years ago with the Hyper Force EV concept. The electric sports car concept was promoted as a “game-changing hyper EV” with over 1,300 horsepower (1,000 kW).
All that power is expected to come from solid-state batteries. Just last week, Nissan secured a partnership with LiCAP Technologies to produce all-solid-state EV batteries on a mass scale, one of the biggest hurdles to getting the new technology to market.
Since Nissan aims to launch its first EV powered by solid-state batteries in 2028, we could see the GT-R reemerge as a plug-in hybrid until the technology is ready.
Either way, it will likely be a few years before we see an electrified Godzilla. If it evolves into an EV or hybrid, it remains up in the air for now.
While Nissan says an all-electric GT-R won’t deliver the performance needed to live up to the nameplate, others are proving otherwise. BYD’s first electric supercar, the Yangwang U9, set a new EV speed record this week after hitting nearly 300 mph.
How do you feel about it? Should the GT-R go all-electric? Or will Nissan settle for a hybrid? Drop us a comment below and let us know which one you’d buy.
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