Latest News, Updates & Breaking Headlines
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…
RIL, which has been the largest importer of Russian oil by volume in this year, has bought millions of barrels of crude from the US and Middle East . (AI image) In what is being seen as a direct impact of Donald Trump’s sanctions on two major Russian oil firms, Reliance Industries Ltd (RIL)…
Analysts are of the view that the latest round of Trump sanctions may hit earnings of these two oil refineries. (AI image) US President Donald Trump’s move to impose sanctions on two of Russia’s largest oil suppliers – Rosneft and Lukoil – spells bad news for India’s private sector refineries Reliance Industries (RIL) and Russia-backed…
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…
NEW DELHI: Congress leader Shashi Tharoor on Thursday hit back at US President’s repeated claims that India will sharply cut Russian oil imports by year-end, saying, “Donald Trump shouldn’t tell what India will do.“Tharoor asserted that Trump should not announce India’s decisions, as New Delhi does not speak for the United States. Trump’s New Russian…
Chinese President Xi, left, and US President Donald Trump China on Thursday strongly criticised the latest US sanctions imposed on Russia’s two largest oil companies, Rosneft PJSC and Lukoil PJSC, calling the move “unilateral” and “lacking any basis in international law.“Addressing a daily press briefing in Beijing, foreign ministry spokesman Guo Jiakun said, “China consistently…
India’s crude oil import costs have become increasingly expensive in the current financial year as the share of Russian crude in the country’s oil basket declines, a new report by Kotak Institutional Equities showed.It explained that alternative suppliers might be more expensive due to which premiums will remain elevated, impacting GRMs for refiners.The brokerage highlighted…
After United States, the European Union has also imposed sanctions on Russia, targeting the country’s oil industry in efforts to intensify international efforts to block the funds that Moscow depends on to sustain its invasion of Ukraine.Earlier on Wednesday, US President Donald Trump had announced sanctions on Russian oil firms.Ukrainian President Volodymyr Zelenskyy welcomed the…
