WASHINGTON: The United States (US) has announced the termination of a waiver previously granted to India that allowed discounted purchases of Russian crude oil, marking a shift in Washington’s approach to energy-related sanctions. Read More: US approval for Russian oil sparks outrage from Indian opposition According to reports cited by an Indian publication, Indian rokefineries had placed orders for nearly […]
Russian crude
India turns back to Russian oil amid supply worries
India’s state-owned oil refiners are purchasing millions of barrels of Russian crude oil for immediate delivery as the country moves to address potential supply shortages linked to escalating conflict in the Middle East, according to multiple industry sources. Read More: Putin warns of possible gas halt to Europe The buying spree comes as India seeks […]
Russian crude revenue drops amid India pact
Russia risks a major drop in oil revenue if India halts Russian crude purchases, analysts say. Losing its second-largest buyer would force Moscow to cut prices to attract new customers. U.S. President Donald Trump claims Indian Prime Minister Narendra Modi agreed to curb Russian oil imports under a trade deal. Trump on Monday reduced U.S. […]