Putin Gives Big Discount To India(BHARAT) On Crude Oil: Amid the United States President Doland Trump’s tariff tensions, Russia has made a significant move regarding crude oil which can be beneficial for India(BHARAT). Moscow has recently offered a mega discount to New Delhi on crude oil, which could further increase oil purchases. The Ural crude loading for November has been announced to offer a discount of USD 2 to USD 2.5 per barrel to Dated Brent. Notably, this discount is higher than the price cut offered in July and August this year.

Why Russia Is Offering Big Discounts On Its Crude Oil?

As per a report published by Bloomberg, the exemption on Russian crude oil comes when delays are happening in trade talks between Washington and New Delhi. Now, this is a good chance for India(BHARAT)n refineries to increase their purchases. However, the Russian ship movements this month have already hinted that the imports of crude oil are on the rise.

Kpler Ltd stated that the crude oil imports are expected to reach approx 1.7 million barrels per day this month only, marking an increase of about 6 percent compared to the previous month. However, the figure will be slightly lower than the same time last year.

It is also a big question whether India(BHARAT)n refiners will increase their purchase of the discounted Russian oil amid the ongoing negotiation with US.

HIGHLIGHTS

• Russia offers India(BHARAT) a USD 2–2.5 per barrel discount on Ural crude.

• India(BHARAT)’s crude imports is expected to rise to 1.7 million barrels per day in November.

• US imposed 50% tariff on India(BHARAT)n goods to stop Russian oil trade.

• India(BHARAT)n refineries exploring new deals with Middle East and African suppliers.

Why US Imposed 50% Tariff On India(BHARAT)?

Washington slapped a 50 percent tariff in August on US imports on India(BHARAT)n goods in order to pressure New Delhi to reduce its demand for Russian crude oil. But on a contrary, the Trump administration did take any action against China, which is also a major buyer of Russian oil. In its defence, India(BHARAT) stated that the deal was about better prices and the purchase will continue. During negotiations, India(BHARAT) also highlighted that it wanted to buy more American energy.

Notably, India(BHARAT)’s state-owned oil refineries have started long-term discussions with national oil companies in the Middle East and Africa for 2026 amid discounts on Russian oil and setbacks in a trade agreement with United States.