Russian Oil

Lutnick’s remarks came as the Supreme Court began hearing challenges to Trump’s use of the 1977 International Emergency Economic Powers Act (IEEPA) to impose sweeping tariffs.

Will Trump's sanctions on Russian oil trigger inflation?

A surge in non-Russian oil sources could result in a spike in oil prices, is the fear. But a look at the physical and financial market points to enough reasons why that may not happen

Donald Trump reiterates claim that India will stop buying Russian oil

The MEA on Thursday said it has no information on any telephonic conversation between Prime Minister Narendra Modi and Donald Trump, following the US President's claim that Modi had told him India would not purchase Russian oil.

White House official says India already cutting Russian oil imports by 50% after US talks -- What we know so far?

During his weekly briefing, MEA spokesperson Randhir Jaiswal dismissed reports of any phone call on this issue between US President Donald Trump and Prime Minister Narendra Modi.

'Modi a great man', says Trump on outcome of envoy-designate Sergio Gor's meeting with Indian PM

Donald Trump also claimed that PM Modi had conveyed that India would phase out purchases of Russian crude.

Donald Trump claims PM Modi assured him 'India will not be buying oil from Russia'

Trump said the oil purchases won’t stop immediately as it involves a 'little bit of a process', but it will be 'over soon'

After sanctions, oil refiner Nayara's exports find new markets

The privately-owned company halted exports for about two weeks after it was sanctioned by the European Union on July 18 for dealing in Russian oil

'Financing war against themselves': Bessent calls European purchases of Indian refined oil ‘most perverse thing’

Bessent also commented on India’s role in the Russian oil market, saying he expects that India will likely reduce its purchases and eventually wean itself off Russian oil.

Key Russia Black Sea oil ports pause loadings after drone alerts

The stoppages, which are temporary and precautionary, apply to the Caspian Pipeline Consortium terminal and the Sheskharis facility, both of which are near Novorossiysk.

US, India met for more talks this week, discussed Russian oil purchases: Marco Rubio

We had meetings with them again yesterday, and it has to do with their purchase of Russian oil, the US secretary of state said

Russia warns Trump: US tariff threats won’t sway ‘ancient civilisations’ like India and China

Over recent weeks, President Donald Trump and senior US officials have criticised India’s continued imports of Russian oil, claiming New Delhi is funding the war in Ukraine.

Trump says he is ‘very close’ to PM Modi, defends tariffs on India over Russian oil purchase

Trump's comments came while he criticised European countries for still buying Russian oil, saying it weakens efforts to isolate Moscow during ongoing conflicts.

India’s Russian oil purchase, military drills 'stand in the way of closer ties': EU top diplomat

The European Union’s top diplomat Kaja Kallas said that India’s continued purchases of Russian oil and its participation in Russian military exercises “stand in the way of closer ties” with the bloc.

'India coming to the table': Trump advisor Navarro sharpens attack over 'highest tariffs' and Russian oil

Notably, Trump had last week stated that the trade negotiations between the two countries were underway and expressed optimism of a deal. He also said that he would be speaking to "very good friend" PM Modi soon.

Trump admits tariffs on India over Russian oil ‘caused a rift’, repeats 'solved seven wars' claim

India, for its part, has defended its purchase of Russian crude oil, saying its energy procurement is based on national interest and market dynamics.

'India will say sorry to US': Commerce Secretary Howard Lutnick on Donald Trump’s "we’ve lost India to Russia, China" remark

Lutnick claimed "in a month or two months, India's going to be at the table and they're going to say they're sorry."

Russian oil gets cheaper for India as US amps up criticism

The price of Urals crude has dipped to a discount of $3 to $4 a barrel to Brent on a delivered basis

Peter Navarro's 'Brahmin' remarks row: Who is Trump's trade adviser, whom Elon Musk once called 'moron'

This is not the first time that Navarro has attacked India over its purchase of Russian oil, defending US tariffs' imposition on New Delhi.

India pushes back against US moves on Russian oil imports

Russia, which previously held a negligible share of India’s oil imports, has accounted for 37% of the world’s third largest oil consumer buys this year

Trump’s hypocrisy on Russian oil: How America uses tariffs to pressure India while cutting quiet deals with Moscow

Behind the rhetoric of “peace talks” with Russia, Trump has been exploring avenues to restart American participation in Russian oil and gas projects.

Jaishankar in Moscow, Responds to U.S. Criticism | Major Energy Deals with Russia Ahead

Indian Foreign Minister Subrahmanyam Jaishankar met Russian President Vladimir Putin and Foreign Minister Sergey Lavrov in Moscow to reinforce strategic ties. With U.S. tariffs hitting Indian exports and Western sanctions isolating Russia, the two nations are looking at deeper energy cooperation including joint projects in the Arctic and Far East. Watch for all the details.

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

The refiners had halted purchases in July due to narrowed discounts

'They are just profiteering, it's unacceptable': US Treasury chief defends tariffs on India over Russian oil

Earlier this month, Trump had slapped India with 50 per cent tariffs, including 25 per cent as penalty for buying Russian oil and weapons.

‘Modi asked Putin to end the war’: Analyst exposes US hypocrisy in singling out India on Russian oil

PM Modi has made it clear that India will not compromise on the interests of farmers, livestock rearers and fishermen, asserting that he is standing like a wall to protect them.

China refines Russian oil, sells to global market; Europe can do more on sanctions: Rubio

Asked 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."