If America goes after India's oil trade, China will benefit
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Daily Mirror
4 hours ago
- Daily Mirror
Donald Trump breaks silence on major Putin summit with three-word review
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Channel 4
10 hours ago
- Channel 4
Trump describes meeting with Russia as ‘constructive'
After previous visits to Moscow, Steve Witkoff described Vladimir Putin as 'gracious' and 'super smart', recounting how the Russian President even prayed for Donald Trump. Trump, though, has expressed growing frustration with Russia's attacks on civilian targets in Ukraine and today slapped tariffs on their biggest oil customer, India. Although he described today's meeting as 'constructive', Trump has yet to confirm whether or not he'll go ahead with imposing sanctions on Russia this Friday as he's threatened to if a peace deal isn't agreed.
Economist
10 hours ago
- Economist
If America goes after India's oil trade, China will benefit
WHEN WESTERN countries began boycotting Russian oil in 2022, India saw an opportunity. Some 2.6m barrels a day (b/d) of crude once destined for Europe were available—at a sweet discount. India, which bought next to no oil from Russia in 2021, pounced. It has remained Russia's biggest customer ever since. Today it imports nearly 2m b/d of Russian 'sour', heavy crude, representing 35-40% of its crude imports. The supply reduces India's import bill at a time when the world's fastest-growing big economy burns ever more petroleum. Local refiners make a killing by processing the stuff into fuels that they then export at full cost.
