Russian manufacturing contraction eases but VAT hike fuels inflation, PMI shows Source link
The United States, which imposed tariffs on India last year for buying Venezuelan oil, has told Delhi it can resume those purchases soon to help replace imports of Russian oil, three sources familiar with the matter told Reuters. India pledged to slash Russian crude oil purchases after Washington also hiked tariffs related to that activity, […]
US President Donald Trump has greenlit a bipartisan Russia Sanctions Bill, which gives the United States leverage against India, China and Brazil to curb their Russian oil imports that purportedly fuels Moscow’s war in Ukraine. US President Donald Trump. The Sanctioning of Russia Act 2025 is designed to force Russia into peace negotiations in Ukraine […]
India’s Russian oil imports are set to decline to the lowest in years Reliance Industries Ltd. said it’s not expecting any delivery in January. Reliance Industries was the biggest Indian buyer of Russian crude last year. (Reuters) “Reliance Industries’s Jamnagar refinery has not received any cargo of Russian oil at its refinery in the past […]
Indian Oil Corp. Ltd. purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India’s top refiner seek to diversify from Russian oil imports. An Indian Oil fuel station in Bengaluru. The state-run refiner has an optional contract to buy about 12 […]
Reliance Industries Ltd. has resumed Russian oil imports, sourcing barrels from non-sanctioned suppliers and routing them to its Jamnagar refinery in Gujarat, according to people with knowledge of the matter. Reliance Industries has resumed Russian oil imports from non-sanctioned suppliers and routing them to its Jamnagar refinery. (Reuters) India’s largest refiner contracted Aframax tankers from […]
HPCL-Mittal Energy Ltd., a joint venture of Lakshmi Mittal’s Mittal Energy and Hindustan Petroleum Corp. Ltd., has stopped buying Russian crude oil. The ships used for the cargo weren’t under sanctions either. Russia currently supplies nearly a third of India’s crude imports, averaging around 1.7 million barrels per day in 2025, of which approximately 1.2 […]
India is set to curtail its Russian oil imports to comply with new US sanctions on two top Moscow-backed producers, Reuters reported on Thursday citing sources. That potentially removes a major hurdle to the India-US trade deal that’s been in the works for months. India imported 1.7 million barrels per day of Russian crude in […]
Reliance Industries Ltd. bought middle-east crudes last week and may place more orders, in a sign that US pressure against India’s Russian oil imports may be starting to impact its procurement patterns. Reliance Industries, which operates the world’s largest refinery at Gujarat’s Jamnagar bought at least 2.5 million barrels of Middle Eastern crude oil last […]
India’s Russian oil imports could drop as refiners led by Indian Oil Corp. Ltd. wait for official guidance from New Delhi after US President Donald Trump said Prime Minister Narendra Modi had committed to stop taking the crude. Russian oil has accounted for roughly a third of India’s crude imports so far this year. (Reuters) […]