Overview
- President Donald Trump’s 50% tariffs on Indian imports are in effect, with aides linking the extra levy directly to India’s continued buying of discounted Russian crude.
- White House officials have privately urged European governments to halt oil and gas imports from India or adopt similar penalties, according to reports citing people familiar with the talks.
- Indian refiners including Reliance, Indian Oil and BPCL bought more U.S. West Texas Intermediate in August after prices turned favorable relative to Middle East grades, traders say.
- Trading sources told Reuters that Indian processors plan to lift Russian crude purchases in September by about 10–20% from August levels, roughly 150,000–300,000 barrels a day.
- ONGC’s chairman said public‑sector refiners will keep buying Russian oil when it is economical, and NaftoRynok reported India was Ukraine’s top diesel supplier in July at about 15.5%.