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Times of Oman
08-08-2025
- Business
- Times of Oman
Trump indicates China could face secondary sanctions for Russian oil purchase
Washington DC: US President Donald Trump has indicated that China could face secondary sanctions or additional tariffs for buying Russian Oil. On Wednesday (local time), the US President had hit India with additional tariffs of 25% specifically tied to the purchase of Russian Oil. At a news conference in the White House, the US President was asked if similar secondary sanction would apply to China given that the Chinese are the largest buyers of Russian Crude Oil. The President replied saying, "It may happen, I don't know, I can't tell you yet, we did it with India and we are doing it probably with a couple of others, one of them could be China." According to data by the Centre for Research on Energy and Clean Air (CERA) for June 2025, China has bought 47% of Russia's crude exports, followed by India (38%), the EU (6%), and Turkiye (6%). CERA is an independent research organisation registered as a nonprofit in Finland. Turkiye, is the largest buyer of oil products and has purchased 26% of Russia's oil product exports, followed by China (13%) and Brazil (12%). The EU was the largest buyer of LNG from Russia purchasing 51% of LNG exports from the country, followed by China (21%) and Japan (18%). The EU was also the largest buyer of Russia's pipeline gas, purchasing 37% of it, followed by China (30%) and Turkiye (27%).Neither China nor Turkey are facing additional US tariffs specifically tied to Russian Oil or Oil Product imports. On Wednesday, India's Ministry of External Affairs had pointed at China and Turkey while saying that targeting India with additional sanctions for Russian imports was unfair. In its statement the MEA said, "The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India." "It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA added. Neither China nor Turkey are facing additional US tariffs specifically tied to Russian Oil or Oil Product imports. Meanwhile, White House Trade Adviser Peter Navarro justified the secondary tariff imposed on India citing national security grounds. Addressing a news conference Navarro said, "This was a pure national security issue associated with India's abject refusal to stop buying Russian oil." With the US pushing the purchase of Russian Oil as a national security issue, there could soon be additional tariffs for countries like China, unless a peace deal is worked out with Russia.
News18
08-08-2025
- Business
- News18
'Give The Bully An Inch...': Chinese Ambassador Hits Out At Trump Over 50% Tariffs On India
Last Updated: While China purchased 47 per cent of Russia's crude exports, followed by India at 38 per cent, in 2025, no additional tariff have been charged for China. Chinese Ambassador to India, Xu Feihong, slammed US President Donald Trump on Thursday over the tariffs imposed by the US on other countries. In a post on X, Xu called it a weapon to suppress other countries. 'Give the bully an inch, he will take a mile," the Chinese envoy to India wrote on X. 'Using tariffs as a weapon to suppress other countries violates the UN Charter, undermines WTO rules and is both unpopular and unsustainable," he added. Meanwhile, Foreign Ministry Spokesperson Guo Jiakun also criticised Trump on Thursday while responding to the reporters and called it 'abuse of tariffs". 'China's opposition to the abuse of tariffs is consistent and clear," said Foreign Ministry Spokesperson Guo Jiakun. According to data by the Centre for Research on Energy and Clean Air (CERA) for June 2025, China purchased 47 per cent of Russia's crude exports, followed by India at 38 per cent, the EU at 6 per cent and Turkiye at 6 per cent. CERA is an independent research organisation registered in Finland. While China and Türkiye buy a significant amount of oil from Russia, none of them have faced additional US tariffs tied to Russian oil or oil products. Earlier on Wednesday, the MEA said, 'The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India." 'It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA added. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
07-08-2025
- Business
- Mint
Chinese Ambassador mocks Donald Trump after 50% tariff on India: ‘Give the bully an inch, he will take a mile'
Chinese Ambassador to India Xu Feihong on Thursday slammed US President Donald Trump over his 50 per cent tariff imposition on New Delhi. "Give the bully an inch, he will take a mile," the Chinese envoy to India wrote on X. His post accompanied a quote by Chinese foreign minister Wang Yi, who said on August 6 that the US is using tariffs to suppress other countries. 'Using tariffs as a weapon to suppress other countries violates the UN Charter, undermines WTO rules and is both unpopular and unsustainable,' he had said in a phone call with in a phone call with Celso Amorim, chief advisor to the president of Brazil. Feihong's remarks came hours after Trump indicated a possibility of slapping extra tariffs on China for its continued purchase of Russian oil. On Wednesday (local time), the US President had hit India with additional tariffs of 25 per cent specifically tied to the purchase of Russian oil. India had responded by calling the decision 'unfortunate' and comparing itself with other countries, including China, who had bought oil from Russia but did not face such penalties. Donald Trump had on Thursday indicated that he might increase tariffs on China over its continued ties with Russia, a country that he has off late reprimanded for its war with Ukraine. At a news conference in the White House, the US President was asked if similar secondary sanction would apply to China given that the Chinese are the largest buyers of Russian Crude oil. 'It may happen, I don't know, I can't tell you yet, we did it with India and we are doing it probably with a couple of others, one of them could be China,' Trump replied. According to data by the Centre for Research on Energy and Clean Air (CERA) for June 2025, China has bought 47 per cent of Russia's crude exports, followed by India (38 per cent), the EU (6 per cent), and Turkiye (6 per cent). 'China will always ensure its energy supply in ways that serve our national interests,' China's Foreign Ministry posted on X on Wednesday, responding to a US threat of imposing 100 per cent tariff. 'Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests," the ministry said.
News18
07-08-2025
- Business
- News18
Trump indicates China could face secondary sanctions for Russian Oil purchase
Washington DC [US], August 7 (ANI): US President Donald Trump has indicated that China could face secondary sanctions or additional tariffs for buying Russian Oil. On Wednesday (local time), the US President had hit India with additional tariffs of 25% specifically tied to the purchase of Russian Oil. At a news conference in the White House, the US President was asked if similar secondary sanction would apply to China given that the Chinese are the largest buyers of Russian Crude Oil. The President replied saying, 'It may happen, I don't know, I can't tell you yet, we did it with India and we are doing it probably with a couple of others, one of them could be China."According to data by the Centre for Research on Energy and Clean Air (CERA) for June 2025, China has bought 47% of Russia's crude exports, followed by India (38%), the EU (6%), and Turkiye (6%). CERA is an independent research organisation registered as a nonprofit in is the largest buyer of oil products and has purchased 26% of Russia's oil product exports, followed by China (13%) and Brazil (12%).The EU was the largest buyer of LNG from Russia purchasing 51% of LNG exports from the country, followed by China (21%) and Japan (18%).The EU was also the largest buyer of Russia's pipeline gas, purchasing 37% of it, followed by China (30%) and Turkiye (27%).Neither China nor Turkey are facing additional US tariffs specifically tied to Russian Oil or Oil Product Wednesday, India's Ministry of External Affairs had pointed at China and Turkey while saying that targeting India with additional sanctions for Russian imports was unfair. In its statement the MEA said, 'The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India."'It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA China nor Turkey are facing additional US tariffs specifically tied to Russian Oil or Oil Product White House Trade Adviser Peter Navarro justified the secondary tariff imposed on India citing national security grounds. Addressing a news conference Navarro said, 'This was a pure national security issue associated with India's abject refusal to stop buying Russian oil."With the US pushing the purchase of Russian Oil as a national security issue, there could soon be additional tariffs for countries like China, unless a peace deal is worked out with Russia. (ANI)
Time of India
17-07-2025
- Business
- Time of India
Russia oil squeeze: Trump's 100% tariff threat - should India panic?
Penalty tariffs by the US would mean that Russia's crude oil imports would no longer be a lucrative option for India. US President Donald Trump's fresh threat of 100% secondary tariffs on countries trading with Russia poses an important question - will India's crude oil supply be hit? At present, India and China are the main purchasers of Russian oil. India relies heavily on imported crude oil, with over 85% of its requirements being met through imports. This crude oil is processed in refineries to produce various fuels, including petrol and diesel. "We're very, very unhappy with (Russia). And we're going to be doing very severe tariffs if we don't have a (Ukraine peace) deal in 50 days. Tariffs at about 100%, you'd call them secondary tariffs," Trump said earlier this week. The secondary tariffs, if the threat materializes, would impose a 100% tariff on products entering the US from countries conducting trade with Russia. Also Read | India-US trade deal: India receptive to imports of GM farm products used in animal feed? Mini deal in works as Trump deadline nears In 2019, India stopped its oil imports from Iran when Trump, whilst serving his first presidential term, warned of implementing secondary sanctions against Iranian oil purchasers. Despite similar threats, China persists with its Iranian oil purchases without facing consequences. But what does this sanction threat by Trump, and even NATO, mean for India? And should India be worried? India's Crude Oil Imports From Russia: Top Facts Whilst the Middle East historically served as the primary source for India's crude oil imports, Russia has emerged as the dominant supplier since 2022. Following Russia's invasion of Ukraine in February 2022, Western countries largely boycotted Russian crude oil. Subsequently, Russia offered substantial discounts on its crude to secure new buyers. Indian refineries took advantage of these discounted rates, transforming Russia from a minor supplier into India's principal source of crude oil, surpassing the traditional West Asian suppliers. Who bought Russia's fossil fuels in June 2025? According to the Centre for Research on Energy and Clean Air (CERA) analysis, since the ban on Russian oil, China has bought 47% of Russia's crude exports, followed by India (38%), the EU (6%), and Turkiye (6%). In FY22, Russia made up just 2.1% of India's oil imports. Come financial year 2024-25, Russia's share in India's value of oil imports is a staggering 35.1% In FY22, India bought $2,256 million of Russian oil - three years later that number stands at a whopping $50,285 million! According to vessel tracking data from global commodity market analytics firm Kpler, India's Russian crude imports reached 2.08 million barrels per day (bpd) in June, marking the highest level since July 2024. India's worldwide crude oil imports declined 6% during June, yet Russian shipments increased by 8% compared to the previous month. According to CERA, three Indian refineries, which also supply processed petroleum products to G7+ nations, accounted for over 50% of these Russian oil purchases. What Will Be The Impact Of Sanctions on India? Penalty tariffs by the US would mean that Russia's crude oil imports would no longer be a lucrative option for India. The increased cost of exporting goods to the US would far outweigh any benefits of discounts offered by Russia for crude oil purchase. In fact, Russia's discounts on crude oil sold to India have also come down gradually. According to Western media reports, the secondary tariffs would have broader implications for India, affecting all merchandise exports from the purchasing country, rather than the current system where penalties are limited to entities conducting business with sanctioned Russian organisations. Discount of Urals oil prices to Brent over time Indian refiners may need to return to their conventional West Asian suppliers and explore new sources like Brazil to compensate for the reduction in Russian oil imports. However, these alternative supplies would be costlier, with prices approximately $4-5 per barrel higher, according to a TOI report. The government had sought assistance from two major West Asian nations to secure oil supplies through alternative routes when concerns arose about potential disruptions in shipping via the Strait of Hormuz during the recent Israel-Iran conflict. According to industry experts, Indian refiners are expected to maximise their purchases of discounted Russian crude before the deadline, similar to their strategy during the Israel-Iran tensions, whilst simultaneously securing alternative supply arrangements. Should India Be Worried? Simply put, No! Gaurav Moda, Partner and Leader, Energy Sector, EY-Parthenon India is of the view that India's three-pronged strategy in the last few years will work in its favour, keeping it relatively insulated from any major oil supply shock. Firstly, we have diversified our crude oil procurement markets to beyond OPEC ++. This has helped bring certainty in oil supply for India, Gaurav Modi tells TOI. 'Secondly, over the last few years India has been building strategic oil reserves both domestically and leasing oil reserves. Thirdly, OMCs have also been storing anywhere between 15 days to 3 months of oil reserves,' he said. 'These three steps make India relatively less vulnerable to any oil supply issues caused by geopolitical tensions,' he explained. India is already signalling growing affinity to crude oil imports from various countries. India's crude oil imports from the United States increased by more than 50% during the first half of 2025 in comparison to H1 2024, according to S&P Global Commodity Insights data. Additionally, imports from Brazil saw an 80% rise during the same timeframe. This indicates Indian refiners' increasing preference for non-OPEC crude sources as the country aims to diversify its supply channels. Also Read | Trump, NATO tariff threat on Russia's crude oil: India not worried about sanctions, says Hardeep Puri; 'if something happens, we'll…' The renewed diplomatic engagement with the current US administration has also sparked a fresh interest amongst Indian buyers for American crude oil supplies. Oil Minister Hardeep Singh Puri has also dismissed fears of likely impact on India if Russian oil supply is choked through secondary tariffs. 'I'm not worried at all. If something happens, we'll deal with it," Puri has said. "India has diversified the sources of supply and we have gone, I think, from about 27 countries that we used to buy from to about 40 countries now," he said. Will The US Threat Come Through? Interestingly, Indian oil industry officials interpret US President Donald Trump's warning of imposing 100% secondary tariffs on Russia as a strategic negotiation move, believing it would have minimal actual impact on worldwide oil trade or India's Russian crude purchases. Oil refinery executives are of the view that the tariffs would harm the US as well. If enacted, it would potentially block Russia from participating in the global oil trade, causing oil prices to surge beyond $120 per barrel. This would contradict Trump's objectives of maintaining low energy costs and could trigger worldwide inflation, they say. Also Read | Trump tariff war: Deal or no deal - why it won't matter much for India Oil industry leaders told ET that imposing 100% tariffs on India and China for their Russian oil purchases could backfire, as elevated import costs from these countries would in turn affect US consumers in terms of higher prices and create political challenges for Trump's administration. "This whole tariff game is about Trump trying to strike deals with countries, including Russia, not about disrupting energy trade or dealing with high inflation at home," an executive told ET. Russia maintains significant oil export volumes, shipping approximately 4.5-5.0 million barrels per day (mbd) of crude oil, constituting about 5% of global consumption. Additionally, the country supplies roughly 2 mbd of processed petroleum products to international markets. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
