Russia starts direct commercial flights between Moscow, Pyongyang
The first flight operated by Russian carrier Nordwind took off from Moscow's Sheremetyevo airport carrying more than 400 passengers. Russia's Transport Ministry said there will be one flight a month to meet demand.
North Korea plans to send military construction workers and deminers to Russia
Russian Foreign Minister Sergey Lavrov, who visited North Korea's new Wonsan-Kalma beach resort earlier this month to meet with North Korean leader Kim Jong Un, promised to encourage Russian tourists to visit the complex.
The resort, which can accommodate nearly 20,000 people, is at the centre of Mr. Kim's push to boost tourism to improve his country's troubled economy.
North Korea's Kim says he'll 'unconditionally support' Russia's war against Ukraine
North Korea has been slowly easing the curbs imposed during the pandemic and reopening its borders in phases. But the country hasn't said if it would fully resume international tourism.
Regular flights between Russia's eastern port city of Vladivostok and Pyongyang reopened in 2023 following a break caused by the coronavirus pandemic. Russia and North Korea have sharply expanded military and other ties in recent years, with Pyongyang supplying weapons and troops to back Russia's military action in Ukraine.
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First Post
5 minutes ago
- First Post
Trump's ‘penalty' tariff threat: How much Russian oil does India buy? What are the other alternatives?
Donald Trump's threat of a 'penalty' tariff on India for buying Russian crude oil looms large as New Delhi and Washington try to reach a trade deal. Russia accounted for a mere 0.2 per cent of India's imports of crude oil before the Ukraine war began in February 2022. Today, the South Asian country is among the top buyers of Russian oil. But how did this happen? read more A view shows an oil pump jack outside Almetyevsk, in the Republic of Tatarstan, Russia, July 14, 2025. File Photo/Reuters United States President Donald Trump has increased pressure on India to reach a bilateral trade deal by imposing 25 per cent tariffs on Indian imports. Compared to India, more than 50 countries have lower levies, including Pakistan and Bangladesh at 19 per cent and 20 per cent, respectively. On Wednesday (July 30), Trump announced 25 per cent tariffs on goods imported from India from August 1 and threatened a 'penalty' tariff for buying Russian crude oil. In another scathing attack, the US president said that India and Russia could 'take their dead economies down together.' STORY CONTINUES BELOW THIS AD As Trump goes after New Delhi for its trade with Moscow, particularly crude, can India give up Russian oil? Let's take a closer look. How much Russian oil does India buy? India's oil purchases from Russia have seen a hike since Moscow invaded Ukraine in February 2022. In fact, China and India are the top two buyers of Russian oil. Before the Ukraine invasion in early 2022, Russia accounted for a mere 0.2 per cent of India's imports of crude oil. India purchased 68,000 barrels per day of crude oil from Russia in January 2022, PTI reported, citing global real-time data and analytics provider Kpler. By June 2022, Russia replaced Iraq to become India's top oil supplier. Moscow supplied 1.12 million barrels per day (bpd) to India, compared to 993,000 bpd from Iraq and 695,000 bpd from Saudi Arabia. The turnabout came as the West sanctioned Russia over its war in Ukraine. This led Moscow to cut crude prices, with discounts reaching $40 per barrel at one point. India ramped up its purchase of discounted crude oil from Russia. In May 2023, Russian oil imports peaked at 2.15 million bpd. A man stands at an Indian Oil fuel station in Sonipat, March 5, 2025. India's oil purchase from Russia has increased in the past three years. File Photo/Reuters India's import of crude oil from Russia has not fallen below 1.4 million bpd. While prices have varied, New Delhi has since bought Russian oil worth approximately $275 billion each year, as per a New York Times (NYT) report. STORY CONTINUES BELOW THIS AD Since the Western sanctions on Russian oil, China has purchased 47 per cent of Russia's crude exports, followed by India (38 per cent), the European Union (six per cent), and Turkiye (six per cent), according to the Centre for Research on Energy and Clean Air (CREA) analysis. Last month, India's crude oil imports from Russia rose to an 11-month high of about 2.08 million barrels per day. 'In June, India remained the second-largest purchaser of Russian fossil fuels, importing fossil fuels worth 4.5 billion euros. Crude oil accounted for 80 per cent (3.6 billion euros) of these imports,' as per the CREA data, reported by CNBC-TV18. The oil companies in India refined some of their imported crude oil for domestic consumption, while the rest was exported as diesel and other products, including to Europe. The cheap Russian oil helped India keep inflation in check and the economy stable amid growing geopolitical tensions. India has maintained a neutral stance in Russia's war with Ukraine. It has also defended its trade with Moscow, citing historical ties and energy needs. STORY CONTINUES BELOW THIS AD Union Minister of Petroleum and Natural Gas Hardeep Singh Puri has also repeatedly stated that global oil prices would have significantly spiked if India had not purchased Russian oil. Can India cease buying Russian oil? As Trump presses New Delhi, Indian state refiners have stopped buying Russian oil in the past week, industry sources told Reuters. On July 14, Trump had threatened 100 per cent tariffs on countries buying Russian oil unless Moscow reached a peace deal with Ukraine. Puri previously asserted that India was not perturbed by the US president's threat, as oil markets remain well supplied. 'Russia is 10 per cent of global production. We have the analysis that if Russia were not included, the prices would have gone to $130 a barrel. Even Turkey, China, Brazil and even the EU have bought oil and gas from Russia,' the minister said. Puri also warned an uptick in oil prices if Russian crude was shunned. 'There are two possibilities: one, the whole world consumes 10 per cent less — which means some people won't get heating in winter; some won't get air conditioning in summer; some of the transport will stop flying. Or, you start buying more from the remaining 90 per cent (suppliers). You know what that would do to prices? The prices would skyrocket,' he said. STORY CONTINUES BELOW THIS AD If Trump goes through with his threat of a 'penalty' tariff, it would become difficult for India to continue buying Russian oil, the discount on which has decreased. In such a case, Indian refiners will have to return to their traditional crude suppliers in West Asia and seek new ones such as Brazil. However, these new barrels would bear a higher cost, ranging around $4-5/barrel, as per an Economic Times report. India has also enhanced its crude imports from the US. However, it is not easy for the South Asian country to ditch Russian oil, partly because its refineries are configured for Russia's denser and more sulfurous fuel, reported NYT. 'The pivot away from Russia — if forced — will be costly, complex and politically fraught,' Kpler wrote in a note this week. With inputs from agencies
India.com
5 minutes ago
- India.com
Tariff tension with US hits Indian companies, decides to pause oil import from Russia due to...
Tariff tension with US hits Indian companies, decides to pause oil import from Russia due to... Trump Tariff Woes: As Donald Trump's tariffs are haunting several countries, Indian oil refineries are also feeling the heat. Oil refineries such as Indian Oil Corporation, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Mangalore Refinery and Petrochemicals have temporarily halted purchases of crude oil from Russia. Notably, India is the biggest buyer of seaborne Russian crude oil. The country ranks third in the world in terms of oil imports. According to reports, Indian refiners have turned to the Middle East and Africa to purchase oil. Indian Refiners Quietly Pulling Back On Russian Oil As per a report by Reuters, citing sources, stated that the state-owned refineries have not imported oil from Russia since last week. However, no response has come from the companies regarding the development. It is to be noted that four state-owned refiners – IOC, BPCL, HPCL, MRPL – buy Russian oil in bulk but no purchase has been done since last week, Reuters report said, citing sources. As the supply of crude oil have impacted, these refiners are now looking at the spot market to fulfil their demands. These refiners are now buying crude oil from West Asia and West African oil. This occurs as the price reductions on Russian oil have decilned, alongside President Donald Trump's caution to nations regarding the acquisition of oil from Moscow. The report states that Indian refiners are distancing themselves from Moscow's crude oil due to shrinking discounts. The price reductions on Russian crude oil have decreased to their lowest levels since 2022, attributed to reduced exports and consistent demand. Private Refiners Still Importing Russian Crude Oil Meanwhile, the private players of the country are still importing the crude oil from Moscow as per their annual agreement with the country. Notably, the discounted rates at which India was buying crude from Moscow since 2022 has declined. Recently, US President Donald Trump has issued a warning that India could face a 100 percent tariff for buying crude oil from Russia. Starting August 1, he's already set a 25 percent tariff on Indian goods as part of a broader move affecting more than 90 countries. It is expected that Trump may hit New Delhi with more penalties over its oil trade with Russia.
Hans India
5 minutes ago
- Hans India
Trump's tariffs won't derail India's growth story: Former US official
New Delhi: India's economy is on a strong growth path, and the recent 25 per cent tariff announcement by US President Donald Trump should be seen as a short-term challenge rather than a roadblock, Raymond Vickery, Senior Associate at the Centre for Strategic and International Studies (CSIS) and former US Assistant Secretary of Commerce said on Friday. In an exclusive interview with IANS, Vickery said that while the decision marked a shift away from the multilateral trade framework that has supported global commerce for decades, India's long-term prospects remain bright. 'India's economic strength, its large market, and its openness to competition will keep it moving forward,' he told IANS. He stressed that India's focus should be on expanding its trade partnerships and reducing tariffs to unlock new opportunities. Vickery also pointed out that India's rise as a global economic power is tied to its ability to integrate into the world economy. 'India is well-positioned to lead in the new economic order. Tariffs may slow certain sectors temporarily, but they cannot stop India's upward momentum,' he said. Vickery urged leaders to see the current moment as an opportunity to rebuild trade ties on stronger foundations. 'The India–US relationship is vital, and this is the time to use economic cooperation as a force for shared prosperity,' he added. Meanwhile, late on Thursday, Trump issued the executive order to impose a 25 per cent tariff on India starting Friday. However, it did not include extra tariffs on India for buying Russian energy or for being part of the BRICS group -- both of which Trump had also warned about earlier. When Trump first made the tariff threat, India had firmly said it 'will take all steps necessary to protect our national interest.' 'The country will take all necessary steps to protect national interest while negotiating trade deals with countries,' Union Commerce Minister Piyush Goyal said on Thursday.
