India’s Russian oil gains wiped out by Trumps tariffs

4 comments

1. Oh shit he redeemed 

2. I mean, that’s good as Russian oil does play a big role in the war. There are other ways India can meet their energy demand.

3. If you believe that Trump gives a rat fart about cheap russian oil you apparently live in some kind of candy encrusted alternate reality. This is just the label the maga demented emperor wannabe has attached to the sanction for propaganda purpose. It aims inter alia to open up India primary sector to us export and investement and to buy farm land without heavy paperwork.

   As soon as these are ironed out India can keep gorging on cheap russain gas and oil no question asked, just like China and half of the world.

   Wake up please.

4. Yes everything is fishy here. Donald duck has caused a lot of chaos

   https://youtu.be/B_Bghm2VHb0?si=VNqj0oEtKflUkAN_

   Transcript Read of Middle Eastern oil business expert :

   “Well, the first thing is it seems that there is more to the story than Russian imports. The reason is that the EU imports significant amounts of natural gas and LNG from Russia, and no one said anything. Turkey imports significant amounts of oil from Russia, and Turkish exports of petroleum products to Europe are higher than that of India, yet no one is saying anything about Turkey.

   The United States’ imports from Russia in the first five months of this year went up by 23 percent. No one is saying anything about it. The US still imports uranium from Russia. No one is saying anything about it. Today, we have tankers arriving from Venezuela delivering oil to the United States despite sanctions. So it seems there is more to the story than just Russian oil.

   India is the second largest buyer of Russian crude oil globally, behind China. That is a fact we cannot deny. But the argument that Indian refiners are importing significant amounts only to export and make large profits is false. If you look at India’s petroleum product exports before the Russian invasion of Ukraine and now, it is virtually the same. So the idea that they are importing just to export is not correct.

   India is not a backdoor, contrary to the US argument. What has actually happened since the Russian invasion is a change in trade direction. India diverted petroleum product exports from Asia to Europe because the EU sanctioned itself from importing Russian petroleum products. Meanwhile, Asian markets are supplied by new refineries in the Middle East—Kuwait, UAE, and Oman. So there is more to this story than just Russian oil.

   Also, President Trump does not want high oil prices. Any major restrictions on Russian oil would increase prices significantly. The overall goal was to hurt Russia, but it could end up hurting India more.

   Some media claim Indian refiners will reduce imports from Russia in October to please Trump. That is not correct. Historically, imports from Russia always decline in October, so this is just a seasonal trend.

   As for global markets, oil prices are unlikely to rise significantly. This has happened many times before. Everyone plays a kind of “musical chairs” in trade, but in this case, there are enough chairs for everyone. There may be initial confusion after sanctions, but things settle quickly.

   The bigger concern is not oil but other sectors. The US imports 40 percent of its generic drugs from India. So companies outside the oil sector will be more affected by tariffs than those in oil.

   If tariffs persist, companies may adapt. We might see transshipment through other countries or assembly lines moved outside India. Historically, we saw this with China: it was the largest US trading partner, but many Chinese factories moved to Mexico. Now Mexico is officially the largest partner, though in reality, China still dominates trade. Similar patterns would happen with India if tariffs continue”

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