Page 3 - India Oil Imports

Sanctioned Russian oil tanker reroutes to Vadinar after Adani port ban

A sanctioned Russian oil ship headed for Adani's Mundra port has changed course to Vadinar after the group barred blacklisted vessels, putting India's crude imports under fresh scrutiny

Peter Navarro lashes out at India after another online fact-check on X

Peter Navarro, Senior Counsellor for Trade and Manufacturing for US President Donald Trump, on Monday yet again attacked India after being continuously fact-checked for his false claims on X.Instead of facing facts about Indian oil purchases from Russia, he alleged Indians of twisting the results of a poll he had posted on X.He wrote on X, "India has largest population in the world & all it can do is manage few hundred thousand X propagandists to jerk around a poll? Too funny. America: look at how foreign interests use our social media to advance their agenda."Navarro's reaction came to his previously challenged X's content moderation policies on which he had launched a poll to gauge user opinions, escalating his feud with the social media platform after being corrected on his earlier post."Indian special interests trying to interfere with domestic dialogue with lies about India buying Russian oil. Should X present this crap as comments from "diverse viewpoints"?, he wrote on

India's oil demand growth set to outpace China in 2025: Trafigura

China and India - the region's leading crude importers - are key drivers of demand growth, as producers and traders navigate the impact of economic shifts, plus the spread of renewable energy

India will continue to buy Russian oil as required, says FM Sitharaman

Finance Minister Nirmala Sitharaman said India will keep buying Russian oil, stressing that the country's energy decisions are guided by national interest and citizens' needs

Imposed tariffs on India over Russian oil imports: US govt to Supreme Court

The Trump administration has told the US Supreme Court that it imposed tariffs against India for purchasing Russian energy products "to deal with a preexisting national emergency regarding Russia's war in Ukraine and as a "crucial aspect" of the President's push for peace in the country. Trump has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi's purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, with effect from August 27. In a 251-page appeal to the Supreme Court, submitted Wednesday, the Trump administration said that the President recently authorised IEEPA (International Emergency Economic Powers Act) tariffs against India for purchasing Russian energy products, to deal with a preexisting national emergency regarding Russia's war in Ukraine, as a crucial aspect of his push for peace in that war-torn country. The appeal further states that the stakes in this case could not be higher. The President an

India pushes back at US over Russian crude, calls 'laundromat' claim false

India defended its Russian oil imports, saying it followed international rules and helped keep global prices stable, rejecting US claims that it fueled the Russian war effort

Trump slams tariff ruling by court, says US could be 'completely destroyed'

US President Donald Trump criticised a court ruling that struck down most of his tariff orders, warning that US would be 'completely destroyed' without them, while one judge defended his stance

India should rethink Russian oil imports as US tariffs hit: Raghuram Rajan

Former RBI governor Rajan pointed out that refiners have been earning excess profits from importing Russian oil, while exporters have taken a hit due to tariffs imposed by the US

Vegetable oils body IVPA urges govt to lift GST refund restrictions

Vegetable oil industry body IVPA has urged the government to lift restrictions on tax credit refunds in place since July 2022, saying the curbs are straining working capital and deterring investment in the sector. The Indian Vegetable Oil Producers' Association (IVPA) said the Goods and Services Tax (GST) Council's restriction on refunds of accumulated Input Tax Credit (ITC) under the inverted duty structure was causing cash flow problems, particularly for small and medium enterprises. Under the current system, edible oil attracts 5 per cent GST while input materials such as packaging, chemicals and processing materials are taxed at 12-18 per cent, leading to substantial accumulation of unutilised tax credits. "With refunds blocked, companies face working capital shortages and disrupted cash flows, making operations less viable, especially for MSMEs and domestic manufacturers," the IVPA said in a statement. The association said that higher costs due to unrecovered tax credits are

Jaishankar calls out West's double standards on Russian energy purchases

India's External Affairs Minister S Jaishankar said that the US itself had encouraged India to stabilise the world energy market by continuing to buy crude oil from Russia

India resumes canola oil imports after 5 years as domestic prices surge

India mainly buys palm oil from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine

Russian crude oil continues to flow to India: First Deputy PM Manturo

Russian oil and energy resources continue to flow to India as Moscow sees potential for LNG exports, Russia's First Deputy Prime Minister Denis Manturo said on Wednesday. "We continue to ship fuel, including crude oil and oil products, thermal and coking coal. We see potential for exporting Russian LNG," Manturov said, co-chairing the 26th session of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific-Technological and Cultural Cooperation (IRIGC-TEC). From the Indian side, the commission was co-chaired by External Affairs Minister S Jaishankar, who arrived here on Tuesday on a three-day visit. "We expect to expand comprehensive cooperation in the peaceful nuclear sector, including on the basis of the successful experience of the Kudankulam NPP construction project," the Russian leader said. Manturov noted that trade between Russia and India in national currencies has exceeded 90 per cent. "An equally important task, especially in the current realities, i

India's Russian oil imports dip in July, skips LatAm supply, data shows

India imported 1.5 million barrels per day of Russian crude in July, down 24.5 per cent from the previous month, the data showed

Trump hints US could hold back secondary tariffs on India over Russian oil

US President Donald Trump said the US may not add extra tariffs on India for buying Russian oil, leaving room for change of plans after India faced 50 per cent tariffs

Trump delays tariffs on China over Russian oil, says 'may revisit in weeks'

This pause in tariffs could offer India a short-term relief on crude prices and import costs despite higher duties

SBI halts Nayara's overseas transactions over Russia sanctions risk

State Bank of India (SBI) stops Nayara Energy's overseas transactions to avoid possible US and EU sanctions linked to Russian ownership, as banks grow cautious

We should impose 50% levy on US goods: Shashi Tharoor on Trump tariffs

Shashi Tharoor's remarks were in response to the additional 25 per cent tariffs imposed by US President Donald Trump on account of India's oil imports from Russia

Reliance flags crude supply risks amid US tariff blow on Indian exports

Reliance warns of refining margin pressure as US doubles tariffs on Indian goods to 50 per cent over Russian oil imports; 25 per cent came into effect on Thursday, second 25 per cent begins August 27

Ready to pay heavy price for our farmers, fishermen: Modi on Trump tariffs

This is PM Modi's first response after Trump doubled India's tariff to 50 per cent over Russian oil imports, with the PM stressing India's agri-sector will not be compromised

India refiners wait for govt order on Russian oil purchases: Report

US President Donald Trump has criticised India's Russian oil purchases, arguing they help fund Moscow's war in Ukraine