PM Modi shows Donald Trump his place, refuses to bow to US tariff pressure, massive surge in Russian oil purchases in…, India now plans to…
The shipments of Russian oil arriving at Indian ports in the first half of September were even higher than in July and August, making it clear that US pressure has had no immediate effect.
New Delhi: US President Doland Trump has been making strong statements against India(BHARAT) for the last few days. In addition, he imposed an extra 25 percent tariff on India(BHARAT) over its purchases of Russian oil. Currently, India(BHARAT) faces a total tariff of 50 percent. However, to his disappointment, this has shown no visible impact on India(BHARAT). The country continues to maintain its ties with Russia. India(BHARAT)n refiners have not halted the purchase of Russian oil.
The shipments of Russian oil arriving at India(BHARAT)n ports in the first half of September were even higher than in July and August, making it clear that US pressure has had no immediate effect.
Here are some of the key details:
- The India(BHARAT)n Express, citing preliminary tanker tracking data, has reported that between September 1 and 16, India(BHARAT) imported an average of 1.73 million barrels per day of Russian oil.
- The figures for July and August stood at 1.59 million and 1.66 million barrels per day, respectively.
- Deliveries in September and October, according to the experts, will make it clear what the actual impact of the 25 percent secondary tariff, announced by the Trump administration in August, has been.
- Contracts for Russian crude oil are finalized 6–8 weeks in advance.
- This means that the supplies arriving in early September were actually booked back in July
- In September, 1.22 million barrels per day of oil were loaded from Russian ports for India(BHARAT).
- However, the actual figure could be closer to 1.6 million, since many tankers are recorded up to Egypt’s Port Said, but traditionally, their final destination later turns out to be India(BHARAT).
The Modi government has termed the actions of the United States as unfair and impractical. The Ministry of External Affairs has stated that imports from Russia began when traditional suppliers diverted their oil toward Europe.
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