Page 10 - Russia Oil Production

Trump yet to decide on tariffs over China's Russian oil purchase: Vance

US President Donald Trump has not yet decided on imposing levies on China for purchasing oil from Russia, as Washington's ties with Beijing affect many things that have nothing to do with the Russian situation", Vice President J D Vance has said. Well, the President said he's thinking about it, but he hasn't made any firm decisions," Vance told Fox News Sunday. He was responding to a question about Trump imposing significant tariffs on countries like India for buying Russian oil and whether Washington will impose similar levies on China since Beijing also buys Russian oil. "Obviously the China issue is a little bit more complicated because our relationship with China, it affects a lot of other things that have nothing to do with the Russian situation," Vance said. He added that Trump is "reviewing his options, and of course, going to make that decision when he decides. The US had initially imposed 25 per cent reciprocal tariffs on India and Trump last week slapped another 25 per c

'Indian refiners can do without Russian oil, but with trade-offs'

Indian refiners, the world's biggest user of Russian oil, can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said. Russian crude supports high distillate yields - the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian crude, which accounts for up to 38 per cent of India's refinery intake, with alternatives will shift yields, resulting in lower middle distillates (diesel and jet fuel) and higher residue outputs, according to global real-time data and analytics provider Kpler. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stoppi

Tycoons who profit from India's increasing demand for Russian oil

This week, Jamnagar was the backdrop for a grittier story: Its oil - some of which is imported from Russia - has become a sticking point in US-Indian relations

HPCL explores alternative crude sources amid Russian price, sanction risk

Trump has decided to impose an additional 25 per cent tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations

Trump's tariffs to India's oil bets: Decoding sanctions on Russia

Even before Russia invaded Ukraine in February 2022, Moscow was under sanctions due to its annexation of Crimea

US links India tariff hike to 'national security' over Russian oil imports

White House Trade Adviser Peter Navarro links extra 25% tariffs on India to its refusal to stop buying Russian oil, calling it a national security threat amid ongoing US-India trade tensions

US tariff impact: Trump's trade moves could dent India's oil bill savings

State-run refiners are covered for deliveries of crude oil in September even if Russian oil flows cease, a senior trader at a state refiner said. Another trader said they are mostly covered

India's Russian oil puzzle: Higher cost, drying offers, and tariff pressure

India's oil trade with Russia faces its toughest test yet with spiking procurement costs, tightening sanctions, disappearing discounts and the looming threat of Trump's tariffs

Why Mahesh Patil sees opportunity, not panic, in Trump's tariff escalation

If effective, the steep 50 per cent tariff would be similar to a trade embargo, and will lead to sharp fall in affected export products, especially ones with thinner margins

Oil and pressure: How India became Russia's oil lifeline after Ukraine war

India's growing reliance on discounted Russian crude has reshaped its import basket, pushing out traditional West Asian suppliers and raising questions about how easily the country could pivot

Russia oil import: India's August pipeline strong despite US, EU heat

Private-sector refiners account for around half the imports in Aug

Substantial tariff hike on India in 24 hours: US President Donald Trump

Cites New Delhi's Russian oil purchase; Kremlin slams US threats

Garcetti video resurfaces as Trump targets India's Russian oil imports

MEA defends India's oil purchase policy as US President Donald Trump accuses India of 'financing' Russia's war, escalates tariff threats and stalls trade talks

Tankers deliver barrels of Russian crude to India despite US, EU pressure

India's appetite for discounted Russian crude, and its position as the single largest buyer of Moscow's seaborne oil, has long been a pain point for the US and Western allies

China pushes back at US demands to stop buying Russian, Iranian oil

US and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the US demand that China stop purchasing oil from Iran and Russia. "China will always ensure its energy supply in ways that serve our national interests," China's Foreign Ministry posted on X on Wednesday, following two days of trade negotiations in Stockholm, responding to the US threat of a 100 per cent tariff. "Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests," the ministry said. The response is notable at a time when both Beijing and Washington are signalling optimism and goodwill about reaching a deal to keep commercial ties between the world's two largest economies stable -- after climbing down from sky-high tariffs and harsh trade restrictions. It underscores China's confidence in playing hardball when dealing with the Trump ...

US penalty risk on Russian oil may add ₹9-11 bn to India's import bill

India's annual oil import bill could rise by USD 9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022. Russian oil, which accounted for less than 0.2 per cent of India's imports before the war, now makes up 35-40 per cent of the country's crude intake, helping reduce overall energy import costs, keep retail fuel prices in check, and contain inflation. The influx of discounted Russian crude also enabled India to refine the oil and export petroleum products, including to countries that have imposed sanctions on direct imports from Russia. The twin strategy of Indian oil companies is posting record profits. This is, however, no

India's Russian oil buys 'a point of irritation', says US Secretary Rubio

US Secretary of State Marco Rubio says India's Russian oil imports are 'a point of irritation' in ties with Washington, a day after Trump announced 25 per cent tariffs on all Indian exports

Indian refiners stop buying Russian crude amid Trump threat, low discounts

Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Mangalore Refinery and Petrochemicals Ltd have not placed new orders for Russian crude

Massive oil reserves in Pakistan, says Trump: Here's what US said in 2015

Pakistan's untapped shale reserves have long intrigued energy analysts. A 2015 US report had already mapped billions of barrels underground

Indian oil refiners scramble for crude amid US, EU crackdown on Russia

A major buyer of Russian oil, India is now finding itself blindsided by a more aggressive approach to the Kremlin from both Washington and Brussels