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Thursday, November 27, 2025 | 07:30 PM ISTहिंदी में पढें
India's rivals China, Turkey seek cheaper Urals, capping oil price rise
This comes as Trump-Putin meet remains inconclusive
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Trump did not offer a clear stance on doing away with secondary tariffs after his meeting with Russian President Vladimir Putin on Friday but suggested he will not impose similar tariffs on China for the next 2-3 weeks.
China and Turkey are boosting purchases of discounted Russian oil, offered at better rates to them for deliveries in September, October and November. This comes after Trump cut off India’s access to the crude by the end of the month, industry officials said, and market data showed.
China has increased purchases of Russian Urals crude oil sixfold compared to the first half of this year while India has had to reduce it to nil after Trump slapped secondary tariffs of 25 per cent from August 27 on most Indian exports as penalty for using Russian oil, according to industry data.
