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Technicians stand next to an oil rig which is manufactured by Megha Engineering and Infrastructures Limited (MEIL) at an Oil and Natural Gas Corp (ONGC) plant, during a media tour of the plant in Dhamasna village in the western state of Gujarat, India, August 26, 2021. 

Amit Dave | Reuters

U.S. President Donald Trump added further pressure to India on Wednesday by bumping up tariffs to 50% — but calls for India to immediately stop buying Russian oil could cause global crude prices to spike, industry sources told CNBC.

Trump has accused India of “fueling” Russia’s war machine and said the country is “directly or indirectly importing Russian Federation oil.” As a result, the U.S. imposed an additional 25% tariff on India, bringing total levies against the major U.S. trading partner to 50%.

India was once encouraged to buy Russian crude by the United States, and, unlike LNG, Russian crude isn’t sanctioned, but traded under a price cap to limit Moscow’s ability to profit from its sale. India is one of the biggest buyers of Russian oil, according to data from Kpler which shows total Russian crude exports amount to around 3.35 million barrels per day, of which India takes about 1.7 million and China 1.1 million.

In New Delhi, there must be “confusion,” Bob McNally, president of Rapidan Energy Group and former White House energy advisor to former President George W. Bush, told CNBC.

“Joe Biden went to India after the invasion of Ukraine and begged them to take Russian oil, the Indians hardly imported any Russian oil, and they begged India, ‘please take the oil,’ so that crude prices would remain low, and they did. Now we’re flipping around and saying, ‘why are you taking all this oil,'” McNally added.

Expect Brent to surge to $80/bbl as Trump seeks to wean India off Russian oil supply: Analyst

Industry sources in the Indian petroleum sector told CNBC the country has abided by all international sanctions, and that India is doing the global economy a “favor” by buying Russian oil which in turn, stabilizes prices. The sources did not wish to be identified due to the sensitivity of the matter.

India has argued that it if it were to stop buying Russian oil, a plan must be put in place to stabilize energy markets, along with a contingency to fill the shortfall in supply if Russian barrels are taken off the market.

“In case India decides to cut Russian oil imports, the refineries likely would try to find alternative barrels from the Middle East, as they used to rely on those barrels until 2022. Likely other buyers would not step in,” Giovanni Staunovo, a commodity analyst at UBS told CNBC.

Russia is the third largest global crude producer, after the U.S. and Saudi Arabia. Moscow produces nearly 11 million barrels of oil per day, according to the U.S. Energy Information Administration. India’s Russian crude oil imports was 38% in both 2023 and 2024 and is currently 36% in 2025. Total Indian crude imports are increasing each year with rising demand, and as a result, imports of Russian crude in 2025 are their strongest annual pace yet.

If this supply was to be removed from the market, prices would skyrocket, according to the industry sources in the Indian petroleum sector. “If India were to stop buying Russian crude oil today, global crude prices could jump to over $200 per barrel for all global consumers,” an industry source told CNBC.

“Very near term, there is a risk of a pop in brent prices to $80 or above,” McNally told CNBC, signaling that the impact of additional tariffs and a potential cut to Russian oil imports would be significantly less catastrophic.

U-turn 

“When they didn’t want India to buy something, they told us,” an industry source in the Indian petroleum sector said. This was indeed the case when India was once purchasing Iranian crude, which New Delhi no longer buys and is now sanctioned as Washington doubles down on its maximum pressure campaign against the Islamic Republic.

Hardeep Singh Puri, India’s petroleum minister, last month told CNBC’s Dan Murphy: “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.”

Sara Vakhshouri, the founder and president of SVB Energy International, told CNBC the hefty duties announced by Trump are a “negotiation tactic,” aimed at “reclaiming lost U.S. oil market share in India and oil export declines since 2022, and securing equivalent export of other commodity to India.”

“India has always coordinated closely on US oil policy, including sanctions on Iranian oil. At the same time, for the Trump administration, energy security, affordability, and reliability are priorities” Vakhshouri added.

Even if India and U.S. eventually reach a tariff deal, the trust is most likely gone: Expert

Russian crude has been placed under a price cap by the European Union since Moscow’s 2022 invasion of Ukraine. That price cap, set at $60 per barrel, allows Russia to export its crude, but at a price lower than the commodity generally trades. The aim is to limit Moscow’s revenue from oil exports, constricting the country’s ability to finance its war in Ukraine. The policy was implemented by G7 nations, hoping to maintain a stable supply of Russian oil on the market.   

Sources within the Indian petroleum sector told CNBC “the price cap is a $1 to $2 difference” and insists New Delhi is not buying Russian crude at a major discount per barrel.

Even Russian LNG is not “completely under US secondary sanctions, Europe still buys gas from Russia via pipelines and LNG. Only some Russian LNG export terminals (e.g. Artic LNG 2) are under sanctions, but not all LNG exports,” UBS’ Staunovo, told CNBC.

In 2021, Russia was the largest supplier of petroleum to the European Union. After the bloc’s ban on seaborne imports of Russian crude, the share of imports from Moscow fell from 29% to 2% in the 2025. The EU still imports 19% of its LNG from Russia, according to data from the first quarter of 2025 from Eurostat.

Russia is a member of OPEC plus, established alongside Saudi Arabia in 2016. The group works to stabilize oil prices, adjusting output based on market fundamentals and trends in supply and demand. A group of eight producers just moved days ago to raise output in September, fully unwinding cuts and helping calm fears of Russian supply concerns.

“While OPEC+ countries hold spare capacity to tackle supply disruptions, a full drop in Russian crude production/exports would see that spare capacity completely dwindling.  The Biden administration was aware of this,” UBS’ Staunovo said.

The Russian price cap aimed “to reduce the revenues of the Russian government by allowing Russian oil to remain in the markets and to prevent an oil price spike,” Staunovo added, noting that these decisions were made in the run up to a presidential election in the U.S.

Now, after winning that very election, Trump means business. Before slapping an additional 25% tariff on India on Wednesday, he told CNBC that India “hasn’t been a good trading partner.”

It means that U.S. ties with New Delhi, a key security and defense partner, could be at risk. India responded sharply to Trump’s criticism on Wednesday, saying it was “unjustified and unreasonable” and that it bought Russian oil with U.S. support.

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E-quipment highlight: Liebherr R 920 G8-E electric crawler excavator

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E-quipment highlight: Liebherr R 920 G8-E electric crawler excavator

Global mining and construction equipment giant Liebherr recently rolled out its first-ever battery electric crawler excavator, setting a new standard in heavy earth-moving equipment capabilities with low noise levels and zero local emissions.

Liebherr has made headlines in the sustainability space with its massive electric haul trucks and stupefyingly quick 6MW cryo-cooled DC fast chargers, but its conventional mid-sized equipment lines haven’t electrified as quickly, leaning instead on hydrogen combustion and fuel cell efforts. That seems to be changing, however, with the launch of the 20-ton R 920 G8-E – the brand’s first-ever factory fresh HDEV.

The company’s official copy is characteristically low-key, with an emphasis on the facts and features instead of hype:

The new model completes the product range of Liebherr crawler excavators produced in Colmar (France). It is particularly quiet and emission-free. It generates the same output as a diesel machine in the same category and is particularly suitable for building sites that require low noise levels and avoiding exhaust gas emissions, such as in cities or underground operating locations.

LIEBHERR

Despite the lack of excitement in the release copy, there is a lot of excitement about the R 920 G8-E’s innovative new control cab philosophy.

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Liebherr INTUSI controls


Dubbed INTUSI (for INTuitive USer Interface), the system integrates intelligent control logic with advanced machine learning capabilities to give operators a highly customizable interface that can follow them from asset to asset, from wheel loader to excavator to haul truck, dramatically flattening the learning curve for operators on a given job site.

Liebherr says INTUSI improves both operational efficiency and user comfort on Liebherr job sites through the integration of a number of new features. From the press release:

  • Haptic feedback – vibrations alert the operator to critical conditions—such as reaching dynamic device limits—enhancing situational awareness and speeding up reaction times.
  • Optical feedback – integrated RGB LEDs on the joystick provide real-time visual cues about device status and servo control, ensuring clear communication without distraction.
  • Functional safety – control elements with status LEDs allow safe operation of critical functions—without requiring two-handed input—streamlining workflow while maintaining safety standards.
  • Hand detection – capacitive proximity sensor detects the operator’s hand automatically, enabling seamless activation of controls only when needed.
  • Display navigation – a mini-joystick embedded in the handle allows for quick and efficient navigation of the display interface, reducing the need to reach for external controls.
  • Ergonomics – multi-stage handle height adjustment ensures optimal comfort and usability, adapting to different operator preferences and working conditions

In addition to the INTUSI-powered custom cockpit, the new Liebherr R 920 G8-E electric excavator ships with your choice of either a 188 or 282 kWh high capacity li-ion battery, which is capable of 150 kW DC fast charging. Fast enough, in other words, to power up the machine during shift changes, if needed.

Electrek’s Take


R 920 G8-E electric crawler excavator; via Liebherr.

If the notion of a battery electric Liebherr excavator seems familiar, that’s because it should – the company first converted one of its ultramassive R9400 mining excavators last year, as a proof of concept co-developed with global mining giants Fortescue as they invest in new technology to decarbonize their mines.

Since then, Fortescue has used the machine to move millions of tons of dirt, and has ordered several more. And, because everything from excavators to loaders to heavy trucks are built to be powertrain agnostic, and manufacturers will often offer the same basic vehicle with Cummins, Detroit Diesel, or Volvo power, so there’s a degree of openness baked into those systems already. Liebherr is just taking that to the next level by installing an electric drive motor in place of an internal combustion engine, and I expect this excavator will be the first of many such machines from the brand.

SOURCE | IMAGES: Liebherr.


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Looks like Rivian is working on a steer-by-wire system

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Looks like Rivian is working on a steer-by-wire system

Rivian has posted a job listing for a steering engineer, specifically mentioning work on a future steer-by-wire system for the company.

Steer-by-wire is an automotive concept that has been around for a long time, but hasn’t yet reached mass adoption. The idea is to replace (or supplement) mechanical linkages between the steering wheel and the wheels with electronic actuators instead.

There are a number of potential benefits to this, like allowing more customizability or adaptability to a steering system, reducing mechanical complexity, or adding speed-sensitive variable steering ratios.

Although there are also disadvantages, like a reduction in steering feel (although, since most cars are moving to electronic power steering, that was already gone anyway).

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But few cars have implemented steer-by-wire systems, or at least not fully committed to them, given that mechanical steering racks are a relatively solved problem and the general inertia of the car industry which would rather stick with a solution they know than switch to something better (haven’t we here, at this EV publication, heard *that* one before…). There’s also the matter of regulations, which have often been written to require mechanical steering systems, and may need updating to allow for steer by wire.

But, steer by wire made it into mass production with the release of the Tesla Cybertruck. This was big news when Tesla committed to this – at the time, it was the only thing on the road to exclusively use a steer by wire system, though there are other cars with partial steer by wire (for example, mechanical front wheel steering, and steer by wire rear-wheel steering).

But it seems to have opened the floodgates, as a number of other companies are working on or have since released steer by wire systems (Lexus, for example).

And now, it looks like Rivian is one of those companies – though we don’t know if it’s for the front or rear.

The company posted a job listing for “Sr. Staff Technical Program Manager, Steering Actuator System,” based at its Irvine, CA headquarters (spotted by Rivianforums). This wouldn’t be so exceptional, except that the job posting also specifically points out that “you’ll have full cradle-to-grave ownership of the SBW subsystem.”

So – we know they’re working on steer by wire, to some extent.

But a few other EVs, particularly large EVs like the Rivian R1 platform is, use steer by wire just for the rear wheels – for example the Hummer EV and Rolls-Royce Spectre. These systems are particularly helpful for giant vehicles, because it allows them to be more nimble and make turns that otherwise would require a lot more… negotiation in a giant land yacht.

So it’s possible that Rivian is only working on rear wheel steer by wire here, but we’d like to think there’s a chance it’s working on steer by wire for the full vehicle.

We also don’t know if this would show up on all of Rivian’s vehicles, or only on certain models – the R2 and R3 are in development, and the R1 just got a big refresh. But, perhaps even more interestingly (and very speculatively), VW has invested heavily in Rivian for technology help, so we wonder if we might end up seeing this in VW group vehicles, or Scout vehicles eventually…


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Hyundai cuts IONIQ 5 N lease prices by $150 a month

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Hyundai cuts IONIQ 5 N lease prices by 0 a month

Hyundai’s electric sports car just got a whole lot cheaper. The 2025 Hyundai IONIQ 5 N now costs $150 less per month to lease after another unexpected price cut.

How much is it to lease the 2025 Hyundai IONIQ 5 N?

The new and improved 2025 IONIQ 5 is coming off its best US sales month yet in July, but that isn’t stopping Hyundai from wanting more.

After Hyundai cut lease prices on all trims last month to as low as $179 per month, it’s now offering even more savings.

The 2025 Hyundai IONIQ 5 N is now listed for lease at just $549 per month. The offer is for 36 months, with $3,999 due at signing. At an effective monthly rate of $660, Hyundai’s EV is $150 cheaper a month than it was in July.

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Hyundai is currently offering some of the best deals on electric cars, with the 2025 IONIQ 5 SE Standard Range listed for lease at just $179 per month.

Hyundai-IONIQ-5-lease
2025 Hyundai IONIQ 5 at a Tesla Supercharger (Source: Hyundai)

The Standard Range model has a driving range of 245 miles. If you’re looking for more, the Extended
Range SE, with a range of 318 miles, is available to lease from $199 per month.

You can even lease the rugged new XRT trim right now for under $300 a month. All deals are for 24 months with $3,999 due at signing and end on September 2

2025 Hyundai IONIQ 5 Trim EV Powertrain Driving Range (miles) Starting Price*  Monthly lease price July 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
IONIQ 5 N Dual Motor AWD Up to 601-horsepower
dual motor
221 $66,200 $549
2025 Hyundai IONIQ 5 price, range, and lease price

With the $7,500 EV tax set to expire at the end of September, Hyundai is offering savings across its entire electric car lineup.

Even Hyundai’s new three-row electric SUV is surprisingly affordable. The 2026 INIQ 9 is listed with monthly lease prices as low as $419 per month.

Looking to test drive one out for yourself? We can help you get started. You can use our link to find deals on the 2025 Hyundai IONIQ 5 at a dealer near you (trusted affiliate link).

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