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US crude oil imports to India surged due to economic factors, including a favourable arbitrage opportunity. (AI image) NEW DELHI: India’s oil imports from the US has risen to their highest level since 2022 in October, underlining bargain hunting by Indian refiners rather than a structural shift amid Washington’s onslaught against New Delhi over purchase…
US crude oil imports to India surged due to economic factors, including a favourable arbitrage opportunity. (AI image) In a move that is possibly aimed at reducing trade issues with the Donald Trump administration, India has stepped up its crude oil imports from the US substantially. Crude imports in the month of October have hit…
Trump sanctions to hit India: Indian refiners are preparing to scale up crude oil purchases from the Middle East, Latin America, and the United States to compensate for reduced imports from Russia, analysts told news agency PTI.This comes after the US government on Wednesday imposed fresh US sanctions on two of Moscow’s biggest producers, Rosneft…
The White House press secretary Karoline Leavitt on Thursday (local time) claimed that India had scaled back Russian oil imports at US President Donald Trump‘s “request” and China was doing the same.“If you read the sanctions and look at them, they’re pretty hefty. I saw some international news out of China this morning that they’re…
Representational AI image NEW DELHI: Reliance Industries and state-run refiners are looking at suspending Russian crude imports after the US on Wednesday sanctioned Rosneft and Lukoil, the largest exporters of those barrels.Reliance, the single-largest Indian consumer of Russian oil, will be the biggest loser as it buys most of those barrels directly from Rosneft under…
India’s state-run oil refiners are expected to continue importing Russian crude through intermediary traders despite fresh US sanctions on Rosneft PJSC and Lukoil PJSC, two of Russia’s largest oil companies, industry sources told PTI. The sanctions target firms accused of helping fund the Kremlin’s “war machine” in Ukraine.The sanctions, announced this week, cover companies that…
Indian refiners anticipate a significant decline in Russian oil imports, potentially even reaching zero. (AI image) The Donald Trump administration’s latest move to sanction major Russian oil firms Rosneft PJSC and Lukoil PJSC will likely make it almost impossible for India to continue procuring crude from Russia. Analytics firm Kpler reports that Russian oil made…
US President on Wednesday, once again, claimed that India would cut down Russian oil imports by the end of the year, noting that it was a gradual process. The statement came after the States sanctioned two major Russian oil companies demanding immediate ceasefire from Moscow. “India, as you know, has told me they are going…
The Reserve Bank of India has called for policy measures to boost domestic competitiveness for the country’s steel sector which has been struggling under the weight of rising imports and dumping from global producers in 2023-24 and 2024-25.According to an article published in the apex bank’s latest October bulletin steel imports in the country surged…
The European Union has agreed to phase out its remaining gas imports from Russia by the end of 2027, a move aimed at ending its long-standing energy dependence on Moscow.The decision was taken by EU energy ministers during a meeting in Luxembourg on Monday, who approved a plan by the European Commission to gradually eliminate…
