According to Bloomberg, India's state-owned oil refiners have resumed purchases of Russian oil after a brief pause amid mounting pressure from US President Donald Trump.
Points of attention
- The involvement of key Indian companies such as Indian Oil Corp. and Bharat Petroleum Corp. in buying Russian oil showcases the shift in global oil trade.
- The statements from US officials regarding the situation underscore the geopolitical implications and potential tariff changes affecting India.
Russian oil is flowing to India again
According to insiders, this concerns a number of Indian refiners, including Indian Oil Corp. and Bharat Petroleum Corp.
They are the ones who have purchased several batches of Russian Urals oil over the past few days.
In addition, it is indicated that there are already agreements for deliveries in September and October.
Journalists draw attention to the fact that state-owned oil refining companies recently suspended purchases of the flagship Urals brand of oil for these months under pressure from the United States.
In late July, New Delhi asked refiners to develop plans to abandon Russian oil in the event of a supply disruption, a directive that one official said amounted to scenario planning.
US Treasury Secretary Scott Bessant also made a statement on this matter.
According to the latter, "India's richest families" have made huge profits from purchasing Moscow oil. At the same time, he announced plans to increase tariffs on New Delhi.
