Bloomberg: India Urgently Halts Oil Purchases From Russia

Did Trump's duties work?

Indian oil refineries have urgently stopped buying Russian oil following the massive duties on Indian goods imposed by US President Donald Trump.

This was reported by Bloomberg.

Sources confirmed to the publication that Indian state-owned refineries have started to stop buying Russian oil. This is because the US has pressured India with stiff tariffs to force the Indian government to abandon trade with Russia.

Indian major companies - Indian Oil, Bharat Petroleum, Hindustan Petroleum and others - are planning to change their oil purchasing patterns in the future cycle. The first of the companies recently purchased a large shipment of oil from the US, Brazil and Libya.

It is noted that New Delhi has not officially given any instructions to refineries to stop buying oil from Russia. Publicly, the government of Prime Minister Narendra Modi, who is on good terms with the Russian regime, says it will resist Trump's tariffs.

It is noted that Indian refiners are waiting for instructions from the government following the US decision to impose additional duties of 25% on Indian goods. The new measures were a response to continuous imports of Russian oil.

Trump imposed additional 25% tariffs against India with his executive order on August 6. The reason was India's continued purchases of Russian oil. These tariffs were in addition to the 25% duties on Indian goods, which came into effect in the U.S. on August 1.

The Indian Foreign Ministry has already reacted to the new measures, beginning to justify the need to buy Russian oil. Meanwhile, the US assures that the 25% duties are only the beginning of a campaign of pressure on buyers of Russian oil.

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