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Russia becomes India’s 2nd largest oil supplier – Reuters

Russia became India’s second biggest crude oil supplier in May, as New Delhi stocked up on discounted Russian deliveries, Reuters reported on Monday, citing trade sources. According to the report, Indian refiners received around 819,000 barrels per day of Russian oil last month, compared to some 277,000 in April.

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Israel’s ruling coalition teeters on collapse

The defection of a key lawmaker has left PM Naftali Bennett’s government holding fewer than half of parliamentary seats Israel may be headed for its fifth election in three years as the ruling coalition headed by Prime Minister Naftali Bennett shows signs of unraveling and losing its grip on power.

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US economy faces major recession – economists

The US economy is about to tumble into a recession, economic experts have forecast, dismissing more upbeat predictions from the Federal Reserve. Former Treasury Secretary Larry Summers warned on Sunday that the Fed’s inflation-related forecasts have been “much too optimistic” and insisted that it confront the recession staring it in the face.

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