What is India-Iran oil trade all about?
6 years, 6 months ago

What is India-Iran oil trade all about?

The Hindu  

Iran has always been one of India’s main suppliers of oil, second only to Iraq and Saudi Arabia, with exports that totalled more than 27 million tonnes last year. For India, which has been told along with other buyers to take oil imports to “zero” by the cut-off date of November 4, its decisions on procuring Iran oil this point onwards is not so much about securing energy as it is about securing India’s standing in the world. The then Secretary of State, Hillary Clinton, recounts in her book Hard Choices that when she visited New Delhi in May 2012, the “more loudly we urged to change course, the more likely they were to dig in their heels.” India agreed to cut oil imports by 15% subsequently, but asserted its autonomy. Eventually, New Delhi operationalised a ‘rupee-rial’ mechanism, under which half of what it owed Tehran for oil imports would be held in a UCO Bank account and made available to Iranian companies to use for any imports from India, an arrangement the Narendra Modi government is seeking to re-energise. Just five months ago, New Delhi rolled out the red carpet for Iran’s President Hassan Rouhani and committed itself to increasing its oil off-take by 25% this year, as part of easing negotiations for the Farzad-B gas fields India is keen to buy a stake in.

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History of this topic

China, India seek new supplies as U.S. sanctions tighten grip on Russian oil
Trending News
2 days, 6 hours ago

China, India seek new supplies as U.S. sanctions tighten grip on Russian oil

The Hindu  

Chinese and Indian refiners are seeking alternative fuel supplies as they adapt to severe new U.S. sanctions on Russian producers and tankers that are designed to curb the revenues of the world’s second-largest oil exporter. Analysts said the new sanctions were likely to reduce Russian oil exports in the short term, but Russia could adapt by using the vessels in …

Fresh US sanctions on Russian oil unlikely to have immediate impact on India
2 days, 14 hours ago

Fresh US sanctions on Russian oil unlikely to have immediate impact on India

Live Mint  

New Delhi: US’s fresh sanctions on two Russian oil producers along with tankers are unlikely to have an immediate impact on India for about the next two months as the crude required for this period has already loaded on vessels and is in transit, a top government official said. Strategic oil sourcing Russia has emerged as the top supplier of …

Stricter US sanctions threaten Russia's oil trade with India and China: Report
Top News
3 days, 8 hours ago

Stricter US sanctions threaten Russia's oil trade with India and China: Report

India Today  

New US sanctions on Russian oil producers and ships are expected to disrupt Russia’s oil trade with India and China, two of its largest customers, according to a report by news agency Reuters. The US Treasury announced tougher sanctions on Friday, targeting major Russian oil producers Gazprom Neft and Surgutneftegas, as well as 183 ships involved in transporting Russian oil. …

US sanctions on Russian oil to push China, India to seek supply from US, West Asia and Africa
3 days, 19 hours ago

US sanctions on Russian oil to push China, India to seek supply from US, West Asia and Africa

Firstpost  

Many of the tankers have been used to ship oil to India and China as Western sanctions and a price cap imposed by the Group of Seven countries in 2022 shifted trade in Russian oil from Europe to Asia. Russian oil exports will be hurt severely by the new sanctions, which will force Chinese independent refiners to cut refining output …

Tougher U.S. sanctions to curb Russian oil supply to China and India, says analysts
3 days, 23 hours ago

Tougher U.S. sanctions to curb Russian oil supply to China and India, says analysts

The Hindu  

Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said. Russian oil exports will be hurt severely by the new sanctions, which will force Chinese independent refiners to cut refining …

Oil Sanctions Concern Spurs Asian Buyers to Seek Alternatives
5 days, 22 hours ago

Oil Sanctions Concern Spurs Asian Buyers to Seek Alternatives

Live Mint  

-- Oil refiners in India and China have increased crude purchases from the Middle East and other regions amid concern that further restrictions on imports from Russia and Iran may crimp access to supplies. This week, two Indian state refiners bought up to 6 million barrels of Oman and Abu Dhabi’s Murban crude for prompt loading in February, according to …

Iranian minister on visit to Delhi to pitch for resuming energy trade
1 week, 6 days ago

Iranian minister on visit to Delhi to pitch for resuming energy trade

Hindustan Times  

NEW DELHI: Iran’s deputy foreign minister Majid Takht Ravanchi is on a visit to India for talks aimed at resuming energy trade, which stopped in 2019 because of US sanctions, and exploring options for ramping up non-oil trade. Majid Takht-Ravanchi, the deputy foreign minister for political affairs, is heading the Iranian side in India- Iran political consultations India and Iran …

Iran Asks India To Resume Oil Trade, Relax Visas
1 week, 6 days ago

Iran Asks India To Resume Oil Trade, Relax Visas

ABP News  

The new Iranian administration under President Masoud Pezeshkian is planning to give a renewed push for resumption of oil trade with India even as Tehran is seeking expansion of people-to-people ties with New Delhi by way of visa relaxation, according to a senior Iranian official. We understand why India has to follow the sanctions but trade is falling year-on-year which …

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions
2 weeks ago

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions

Live Mint  

New Delhi: Exports of petroleum products took a hit in November, weighed down by sluggish demand in developed economies, a rise in domestic consumption and a significant decline in cheap petroleum imports from Russia. Compounding the issue, India’s imports of Russian crude oil in November fell to their lowest levels since June 2022, according to a recent report from the …

U.S.-India ties will be strengthened, but expect tariff trouble, FTA push: Former Ambassador Juster
2 weeks, 3 days ago

U.S.-India ties will be strengthened, but expect tariff trouble, FTA push: Former Ambassador Juster

The Hindu  

Former Trump envoy to India says the new administrations will push hard on Iran sanctions, China challenge India should expect raised tariffs, and a renewed push to get a Free Trade Agreement finalised from the United States as Donald Trump gets set to begin a second term in office, said former Ambassador to India Kenneth Juster. In an exclusive interview …

Indian state refiners may buy Mideast spot oil to replace Russian shortfall
3 weeks, 2 days ago

Indian state refiners may buy Mideast spot oil to replace Russian shortfall

Live Mint  

* State refiners look to Middle East crude * Russian oil exports drop on domestic demand, OPEC * Three state refiners may tap stocks to cover processing in March By Nidhi Verma NEW DELHI, Dec 24 - Indian state refiners are considering tapping the Middle East crude market as spot supply from their top supplier Russia have fallen, three refining …

Middle East share of India’s Nov oil imports at 9-month high; Russia down
3 weeks, 3 days ago

Middle East share of India’s Nov oil imports at 9-month high; Russia down

Live Mint  

By Nidhi Verma NEW DELHI - India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. The world's third biggest oil importer and consumer in November shipped in 13% less Russia oil compared with October at 1.52 million barrels per day, …

What India-US trade could look like after Trump takes office
3 weeks, 6 days ago

What India-US trade could look like after Trump takes office

Live Mint  

By Manoj Kumar NEW DELHI, Dec 19 - India is preparing for possible trade talks with the United States, aiming for increased investments from U.S. companies and higher exports once President-elect Donald Trump takes office. Here are key commercial issues between the two countries: TRUMP POLICY ON CHINA India seeks to leverage Trump's policy by capitalising on U.S. trade tension …

Rosneft, Reliance agree biggest ever India-Russia oil supply deal: Reports
1 month ago

Rosneft, Reliance agree biggest ever India-Russia oil supply deal: Reports

Deccan Chronicle  

Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today's prices. The company declined …

US sanctions 35 entities & ships for transporting Iranian oil, including 2 Indian firms
1 month, 1 week ago

US sanctions 35 entities & ships for transporting Iranian oil, including 2 Indian firms

Firstpost  

Two Indian companies are among 35 entities and vessels sanctioned by the United States for transporting Iranian oil In the latest tranche of sanctions on Iran, the United States has imposed sanctions on 35 entities and ships for transporting Iranian oil. The firms sanctioned for transporting Iranian oil include two Indian firms as well. The Treasury said the two companies …

US imposes new sanctions on Iran’s ‘shadow fleet’ of oil tankers
1 month, 1 week ago

US imposes new sanctions on Iran’s ‘shadow fleet’ of oil tankers

Al Jazeera  

The latest US sanctions are part of an effort to disrupt Iran’s use of oil revenue to finance its nuclear programme. The United States has piled on additional sanctions against Iran targeting 35 entities and vessels that it says are part of a “shadow fleet of vessels” transporting cargoes of Iranian petroleum to foreign markets. The sanctions are similar to …

week high as Russia, Iran tensions support prices
1 month, 3 weeks ago

week high as Russia, Iran tensions support prices

Live Mint  

* Iran to hold nuclear talks with European powers on Nov 29 * China's crude imports to rebound in Nov * India refining throughput up 3% year-on-year for Oct By Florence Tan SINGORE, - Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and …

Is the spike in India’s trade deficit a worry?
3 months, 3 weeks ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Reliance Industries gets US approval to continue crude oil import from Venezuela amid sanctions
5 months, 3 weeks ago

Reliance Industries gets US approval to continue crude oil import from Venezuela amid sanctions

Op India  

In a significant development, Reliance Industries Ltd., India’s largest privately held oil refiner, has obtained US approval to resume importing oil from Venezuela amid White House sanctions against the country. Notably, when President Nicolas Maduro and the opposition inked a deal to ensure free and fair elections last year, the United States temporarily lifted sanctions on the South American country’s …

Is Iraq the missing piece in India’s corridor strategy?
5 months, 3 weeks ago

Is Iraq the missing piece in India’s corridor strategy?

Firstpost  

The trans-Iran North-South corridor need not be the only alternative to the India-Middle East Economic Corridor. In many ways, Iraq could be a natural partner for India to augment its trade security beyond IMEEC and Iran At the G20 Summit in New Delhi, Prime Minister Narendra Modi, President Joe Biden, and other world leaders unveiled the India-Middle East Economic Corridor, …

Trade tact: The Hindu Editorial on India’s trade policy focus
5 months, 4 weeks ago

Trade tact: The Hindu Editorial on India’s trade policy focus

The Hindu  

India’s goods exports rose for the third successive month this June, growing 2.55% to $35.2 billion. With oil prices virtually unchanged over the last two months, this signals a drop in export volumes, just as a sharper 19.6% rise in June’s oil imports suggests a domestic demand spike. The oil deficit accounts for almost half of the first quarter trade …

Why is the US upset with India's Chabahar port deal with Iran? Explainer
7 months, 3 weeks ago

Why is the US upset with India's Chabahar port deal with Iran? Explainer

India TV News  

India's negotiations with Iran to take over operations of the landmark Chabahar port are reportedly seeing fruition after 21 years. However, amid tensions between the United States of America and Iran, India has become a key geopolitical and economic security interest for the international superpower, inviting criticism from its primary trade partner over its deal. India's decision to collaborate with …

Chabahar deal | Could U.S. play spoiler in India-Iran ties? Watch
7 months, 4 weeks ago

Chabahar deal | Could U.S. play spoiler in India-Iran ties? Watch

The Hindu  

This week marked a new chapter in India’s 20 year old interest in a port in Iran- Chabahar. While China continued its oil imports from Iran after the 6 months ran out, India bowed to the Trump administration’s pressure, and stopped all oil imports. In 2017, the US had threatened sanctions on Chabahar as well as India’s oil imports from …

Chabahar: India’s Balancing Act Against China, West Asia and the West
8 months ago

Chabahar: India’s Balancing Act Against China, West Asia and the West

News 18  

Geostrategy is increasingly becoming a process of increasing a nation’s options. While Russia has been encountering sanctions from Western Europe and the US ever since the war with Ukraine, Iran has endured them for far longer. The US, Israel and others in West Asia are aware of India’s cordial relationship with Iran. India’s sea and land route via Chabahar in …

US ‘concerned’ about ‘India-Iran Chabahar port’ deal: ‘Force of terrorism not only in Middle East but other places’
8 months ago

US ‘concerned’ about ‘India-Iran Chabahar port’ deal: ‘Force of terrorism not only in Middle East but other places’

Live Mint  

Noting that countries should be aware of ‘interacting with Iran as it exported terrorism’, US Ambassador to India Eric Garcetti recently said ‘it directly attacks other sovereign nation. All you need to know about India-Iran Chabahar port’ deal India and Iran recently signed a 'long-term main contract" for the development of Shahid Beheshti Port Terminal in Chabahar city of Iran. …

US to sanction India for Chabahar port agreement with Iran? S Jaishankar reacts
8 months ago

US to sanction India for Chabahar port agreement with Iran? S Jaishankar reacts

Hindustan Times  

Reacting to the United States potentially sanctioning India after the latter signed a 10-year agreement to run the Chabahar port in Iran, External Affairs Minister S Jaishankar said that people should not have a “narrow view” as the project will “benefit everyone.” The Chabahar port. “I saw some of the remarks that were made,” Jaishankar said on Tuesday in Kolkata, …

'Shouldn't take narrow view': Jaishankar on US warnings of 'sanctions' on Chabahar Port deal
8 months ago

'Shouldn't take narrow view': Jaishankar on US warnings of 'sanctions' on Chabahar Port deal

India TV News  

Kolkata: After the United States warned of "potential risk of sanctions" as India struck a 10-year deal with Iran on operating a part of Iran's Chabahar Port, External Affairs Minister S Jaishankar on Tuesday responded by saying that the project will benefit the entire region and a "narrow view" of the matter should not be taken. India and Iran on …

Anchoring ties in Chabahar waters
8 months ago

Anchoring ties in Chabahar waters

Hindustan Times  

The agreement signed by India and Iran for long-term operations by an Indian State-run firm at the strategic Chabahar port is a significant development, given the disruptions affecting global trade due to the instability in West Asia. A US State Department deputy spokesperson, when asked about Chabahar, said: “Any entity, anyone considering business deals with Iran — they need to …

US warns of 'potential risk' of sanctions after India-Iran sign Chabahar port deal
8 months ago

US warns of 'potential risk' of sanctions after India-Iran sign Chabahar port deal

Op India  

Right after India signed a 10-year contract with Iran to manage operations at the Chabahar Port on the 13th of May, the United States has ‘warned’ that any country considering any business deal with Iran is exposing itself to the “potential risks of sanctions”. During a daily press briefing on Monday, State Department Deputy Spokesperson Vedant Patel said: “We are …

Why Iranian envoy thinks US won’t impose sanctions on India over Chabahar port
8 months ago

Why Iranian envoy thinks US won’t impose sanctions on India over Chabahar port

Hindustan Times  

NEW DELHI: After India and Iran signed a long-term agreement for expanding Indian operations at Chabahar port, the US warned that all entities engaging in business deals with Iran face the “potential risk of sanctions”. Iranian ambassador Iraj Elahi said the importance of India would prevent any side from imposing sanctions on India over the Chabahar port deal Responding to …

Chabahar deal: US warns of sanctions against entities considering trade with Iran
8 months ago

Chabahar deal: US warns of sanctions against entities considering trade with Iran

Hindustan Times  

Hours after India and Iran signed a long-term agreement for Indian operations at Chabahar port, the US has warned that all entities considering any business deals with Iran face the “potential risk of sanctions”. The 10-year agreement signed by India and Iran on Monday will facilitate the long-term development of Shahid Beheshti terminal of Chabahar port, where operations are run …

India-Iran 10-year pact on Chabahar faces ‘potential risk’ of sanctions: U.S.
8 months ago

India-Iran 10-year pact on Chabahar faces ‘potential risk’ of sanctions: U.S.

The Hindu  

The new 10-year agreement between India and Iran to develop the Chabahar port carries the “potential risk” of sanctions, the U.S. State Department said, casting a cloud over whether the special exemption India had received from the U.S. in 2018 will still be applicable for the next phase of development and investments in the Iranian project. In response to specific …

US issues warning after India’s Chabahar Port deal: ‘Potential risk of sanctions’ for business deals with Iran
8 months ago

US issues warning after India’s Chabahar Port deal: ‘Potential risk of sanctions’ for business deals with Iran

Live Mint  

The United States has issued a warning to nations considering business deals with Iran that run the "potential risk of sanctions." This development comes hours after India signed an agreement to operate the Chabahar Port in Iran for 10 years. US State Department Deputy Spokesperson Vedant Patel on Monday, May 13, during his daily news conference said, “Any entity, anyone …

US warns of sanctions after India-Iran Chabahar Port agreement
8 months ago

US warns of sanctions after India-Iran Chabahar Port agreement

Hindustan Times  

The United States, without naming India, issued a warning to “anyone” who is considering business deals with Iran, hours after the two countries signed the Chabahar Port agreement on Monday. US state department principal deputy spokesperson Vedant Patel issued a veiled warning to India after New Delhi and Tehran signed the important port deal, but also said the US will …

Israel-Iran tensions threaten to send oil, LNG prices soaring, experts warn of volatility in Indian markets
8 months, 3 weeks ago

Israel-Iran tensions threaten to send oil, LNG prices soaring, experts warn of volatility in Indian markets

Live Mint  

The ongoing conflict between Iran and Israel has intensified in recent days and is threatening to disrupt the crucial oil and liquified natural gas imports to India through the Strait of Hormuz. Iran has threatened to block the vital passage of sea, which can create oil/LNG supply bottlenecks for countries like India which import crude oil from Saudi Arabia, Iraq, …

Iran-Israel Tensions: How do they impact Indian stock market? Here’s what experts say
9 months ago

Iran-Israel Tensions: How do they impact Indian stock market? Here’s what experts say

Live Mint  

The Indian market cracked around 1 percent in intra-day deals today following losses in global peers amid escalating geopolitical tensions in the Middle East. Meanwhile, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, as well, noted that signals from the crude market indicate that the tensions are unlikely to escalate but advises caution to investors in the short term …

No sanctions against India for purchasing, refining Russian oil: U.S. Treasury officials
9 months, 1 week ago

No sanctions against India for purchasing, refining Russian oil: U.S. Treasury officials

The Hindu  

April 04, 2024 07:55 pm | Updated 09:51 pm IST - NEW DELHI Striking a conciliatory note on India’s imports of Russian oil, U.S. Treasury department officials visiting Delhi said on April 4 that the aim of U.S. sanctions and the oil “price cap” was not to limit the purchase of Russian ‘Ural’ oil, but to limit the revenues made …

Petroleum exports drop sharply as West tightens squeeze on Russia
10 months, 3 weeks ago

Petroleum exports drop sharply as West tightens squeeze on Russia

Live Mint  

NEW DELHI: Earnings from petroleum shipments fell steeply in April-January FY24 due to the global economic slowdown, a rise in domestic consumption, and shrinking discounts on Russian oil. According to data from the government’s Niryat portal, earnings from exports of chemicals and petroleum products stood at $67.11 billion in the April-January FY24 period, down 11.29% from $75.65 billion in the …

India reduces import of Russian crude oil over pricing
1 year ago

India reduces import of Russian crude oil over pricing

Hindustan Times  

Indian refiners have significantly cut Russian crude imports and plan to further decrease shipments from the sanctions-hit country after Moscow steeply reduced discounts from about $10 a barrel to around $2 in recent months, at least four people directly aware of the development said. Indian oil companies have decided to cut crude imports from Russia because of only one reason, …

The turning tides of US sanctions: India caught between a rock and a hard place
1 year ago

The turning tides of US sanctions: India caught between a rock and a hard place

Live Mint  

The recent escalation of US sanctions against Russia seems to have significant consequences for the Indian market. In the context of the US' secondary sanctions targeting Russia, India too can resort to such countermeasures to provide an avenue of insulation for its fiscal priorities and market interests. Forms of countermeasures Bilateral negotiations and conditional waivers The US government can authorize …

India's trade trajectory: FTAs and beyond
1 year, 1 month ago

India's trade trajectory: FTAs and beyond

Live Mint  

India has been refining its global trade strategy, emphasizing a fresh outlook on Free Trade Agreements. India's readiness to face these emerging challenges will determine how well it can fulfil its ambitions of becoming an export-oriented manufacturing hub Not so long ago, India embarked on a journey to strengthen its trade relations with several nations, forging FTAs that promised mutual …

America would struggle to break Iran’s oil-smuggling complex
1 year, 2 months ago

America would struggle to break Iran’s oil-smuggling complex

Hindustan Times  

In February, Dilro, an obscure company based in Dubai, bought the Ocean Kapal, an 18-year-old tanker. Although America retains harsh sanctions that target anyone helping to produce, ship or sell Iran’s petroleum, the superpower’s officials last year eased enforcement. Yet following Hamas’s attack on Israel on October 7th, the Biden administration has come under pressure to shut loopholes, as Iran …

As Israel's war against Hamas escalates, US sends a warning to Iran, raising fears of a recession
1 year, 3 months ago

As Israel's war against Hamas escalates, US sends a warning to Iran, raising fears of a recession

ABC  

As fears mount over Tehran's involvement in the Israel-Gaza conflict, the Biden administration has sent a clear message to Iran's regime: exercise caution. Iranian oil exports could take a hit While Iran is accused of supporting and funding terrorism, there's been a marked increase in Iranians protesting against the regime across Iranian cities, and many want the US to take …

Buy ships to transport energy: Govt to oil cos
1 year, 3 months ago

Buy ships to transport energy: Govt to oil cos

Live Mint  

NEW DELHI : India’s public sector oil and gas companies are looking at purchasing ships to transport oil and gas following a Union government directive aimed to ensure energy security, two people aware of the development said. The move comes at a time of rising crude prices, a price cap on Russian oil, and a bar on the use of …

DC Edit | Good Saudi ties to help India
1 year, 4 months ago

DC Edit | Good Saudi ties to help India

Deccan Chronicle  

The Crown Prince who is its Prime Minister as well the prime mover of modernisation of the Kingdom of Saudi Arabia was not letting out a secret when he said that there had been no disagreement in the history of India-Saudi Arabia relations. The strong historical ties received a healthy boost with Mohamed bin Salman, staying back after the G-20 …

Trade is at the heart of the India-UAE relations
1 year, 4 months ago

Trade is at the heart of the India-UAE relations

Hindustan Times  

Later this week, New Delhi will host the most significant global forum in its history. UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi pose for a photograph during an official visit reception at Qasr Al Watan, Abu Dhabi, UAE, July 15, 2023. In 2017, the UAE-India relationship was formally elevated to a Comprehensive Strategic …

Strengthening Ties: Exploring the Growing Relationship between Saudi Arabia and India
1 year, 6 months ago

Strengthening Ties: Exploring the Growing Relationship between Saudi Arabia and India

Deccan Chronicle  

In recent years, the bond between India and the Kingdom of Saudi Arabia has experienced substantial growth and consolidation. Cited as one of the strongest global voices on moderate Islam from Saudi Arabia, Al-Issa shared the stage with National Security Advisor Ajit Doval, praising India's unity and secularism. Cementing Trade Partnerships Saudi Arabia and India are major players in the …

Explained | Why are India-Russia trade payments in crisis?
1 year, 6 months ago

Explained | Why are India-Russia trade payments in crisis?

The Hindu  

July 09, 2023 03:45 am | Updated 04:21 pm IST The story so far: As India continues to import oil from Russia, it is getting tougher for the country to pay for it. On the one hand, it faces repercussions of breaching the oil price cap of $60 a barrel put in place by the U.S. and European nations as …

Eye on oil: on oil prices and India
1 year, 7 months ago

Eye on oil: on oil prices and India

The Hindu  

The world’s largest grouping of crude oil producers, commonly known as OPEC+, agreed on Sunday to extend ongoing production cuts into 2024 as it seeks to keep oil prices from falling amid concerns about a global economic slowdown. OPEC major and leading producer Saudi Arabia also voluntarily vowed to reduce output by an extra 1 million barrels per day in …

EU to curb Indian fuel imports made with Russian oil: Report
1 year, 8 months ago

EU to curb Indian fuel imports made with Russian oil: Report

Al Jazeera  

The EU’s foreign policy chief has called for a crackdown of Russian oil into Europe as refined fuel, including diesel. Josep Borrell, the European Union’s foreign policy chief, has said that the bloc will act against the importation of Indian petroleum products that use Russian oil, in rare explicit criticism of India’s role in helping Russia evade Western sanctions amid …

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