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Russianoil

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world5 months ago

Trump Threatens Higher US Tariffs on India Over Russian Oil Purchases

President Donald Trump announced plans to significantly increase tariffs on Indian exports to the US due to India's purchases of Russian oil, amid ongoing tensions over Russia's invasion of Ukraine and US efforts to impose sanctions. India defends its energy imports as necessary for affordable energy, while the US aims to pressure Russia financially and curb its war efforts. The situation has strained US-India relations, with negotiations ongoing over trade and tariffs.

via Bloomberg|
#india#russianoil#tariffs
business-and-economy2 years ago

"India's Russian Oil Import Fluctuations: Payment Disputes and Discounts in Focus"

Russian oil tankers are diverting from India due to a payment dispute, as a major Russian supplier struggles to accept payments in UAE dirhams. The tankers had been waiting near India and Sri Lanka for about a month, but with the inability of Rosneft's unit to open a UAE bank account, payments for oil shipments have been stalled. This issue is compounded by US sanctions on Russian oil trade, which put pressure on India to comply with price caps. Despite being one of Russia's largest oil customers post-Ukraine invasion, India's oil imports from Russia dropped significantly in December, with no Sokol crude received.

via Markets Insider|
##business-and-economy#india
business-and-economy2 years ago

"India's Russian Oil Imports Wane as Payment Woes Redirect Trade Flows"

Russian oil shipments are diverting from India towards the east due to payment complications, resulting in a significant drop in India's crude imports from Russia. This shift comes after the U.S. and allies imposed sanctions, including a price cap on Russian oil exports, and increased enforcement efforts. The vessels, mostly owned by Russia's Sovcomflot PJSC, are now heading towards the Malacca Strait, with China potentially absorbing the idling cargoes.

via Yahoo Finance|
##business-and-economy#india