Page 6 - Russia Oil Production

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

Brahmins profiteering off Indians: Trump adviser Navarro justifies tariffs

White House trade adviser Peter Navarro alleged Indian refiners profit from Russian crude, calling India a 'laundromat for the Kremlin'

Navarro backs Trump tariffs, says road to Ukraine peace runs through Delhi

White House adviser Peter Navarro has accused India of funding Moscow's war through Russian oil buys, defending Trump's 50% tariffs and warning that 'the road to peace in Ukraine runs through New Del

US tariff hike, Russian oil deals cloud Reliance's annual investor meet

Shareholders will certainly be looking out for details on the much-anticipated listings of Reliance's telecoms and retail operations, plus prospect for outside investment into clean energy business

Trump 'not happy but not surprised' by Russian strikes on Ukraine: WH

Russia carried out long-range strikes on Ukrainian military targets on Thursday, deploying a range of weapons including hypersonic air-launched Kinzhal missiles

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

Why India's Russian oil imports sparked US tariffs amid Ukraine peace talks

White House trade adviser Peter Navarro said India's purchases of Russian crude were funding Moscow's war in Ukraine and had to stop

Russia faces fuel shortages after Ukrainian drone strikes on refineries

Gas stations have run dry in some regions of Russia after Ukrainian drones struck refineries and other oil infrastructure in recent weeks, with motorists waiting in long lines and officials resorting to rationing or cutting off sales altogether. Wholesale prices on the St Petersburg International Mercantile Exchange for A-95 gas the highest octane spiked to record highs last week, soaring to about 50 per cent higher than in January, as demand soared from farmers seeking to bring in the harvest and Russians hitting the roads for their last big vacation of the summer. Russian media outlets reported fuel shortages are hitting consumers in several regions in the Far East and on the Crimean Peninsula, which was illegally annexed from Ukraine by Moscow in 2014. Media outlets in the Primorye region, which borders North Korea, reported long lines and prices of about 78 rubles per litre (approximately USD 3.58 per gallon) at gas stations in the area, where the average monthly wage is about

Trump's 50% tariffs take effect today: Which sectors are in firing line?

The Donald Trump-led US administration links the 50% duty to India's Russian oil imports; sectors from textiles to seafood brace for impact

Exxon Mobil exploring return to Russia's Sakhalin: Here's what we know

After its 2022 exit, Exxon is exploring a return to Russia's Sakhalin-1 project. The firm has been in talks with Russian energy major Rosneft, as Putin signals openness during Alaska summit

Oil prices dip after hitting three-week high on Russian supply concerns

Oil's rally on Monday was primarily driven by supply risks after Ukraine strikes on Russian energy infrastructure and the possibility of further US sanctions on Russian oil

Indian refiners to trim Russian oil purchases as higher US levies loom

State-run and private processors, including heavyweight Reliance Industries Ltd., are expected to buy 1.4 million-to-1.6 million barrels a day for October loading and beyond

Russian oil supplies to Slovakia may resume today, says Slovak minister

Slovakia and Hungary said on Friday that their supplies of Russian oil could be suspended for at least five days after a Ukrainian strike on a facility in Russia

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

Indian Oil, BPCL resume buying Russian oil for September as discounts widen

Discounts for Russian flagship Urals crude have widened to about $3 per barrel, making the oil attractive for Indian refiners, while China has stepped up purchases, the officials said

Chinese refiners sweep Russian oil as Indian demand weakens, discounts fall

China had secured 15 Russian Urals cargoes for October-November delivery by the end of last week, said Richard Jones, a Singapore-based crude analyst at Energy Aspects

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

US tariffs: Fitch cautions rising second-order risks may hit India Inc

Fitch says Indian pharma, oil marketing companies and auto exporters face downside risks from US tariffs, with Biocon and HPCL-Mittal flagged as vulnerable

Russian crude oil import largely stable despite US tariff announcement

Cargoes of crude oil for September delivery in India down 45% in August compared to July

China refines Russian oil then sells, Europe can toughen sanctions: Rubio

US Secretary of State Marco Rubio said the Russian oil that China is buying is being refined by Beijing, and that refined oil is then sold into the global marketplace. "Well, if you look at the oil that's going to China and being refined, a lot of that is then being sold back into Europe. Europe's also buying natural gas still. Now, there are countries trying to wean themselves off it, but there's more Europe can do with regard to their own sanctions," Rubio said in an interview with Fox Business on Sunday. He was responding to a question on whether Europe is still buying Russian oil. To a follow-up question on whether sanctions are being contemplated against Europe for continuing to buy oil and gas from Russia, Rubio said: "Well, I don't know about (sanctions) on Europe directly, obviously, but certainly there are implications to secondary sanctions. "If you put secondary sanctions on a country let's say you were to go after the oil sales of Russian oil to China well, China jus