India’s appetite for Russian oil is cooling after Washington imposed a 25% tariff on New Delhi’s purchases of Russian crude and widened levies on Indian exports. Trade data show Indian refiners imported about 1.5 million barrels a day of Russian oil in July, a 24.5% decline from June. Ship-tracking and industry figures indicate September deliveries are set to fall by roughly 45% as state refiners switch to supplies from the Middle East and the United States. The pullback is reshaping crude flows. Cargoes that would have headed to India are being snapped up by Chinese refiners, which face no new U.S. penalties. Analysts at Energy Aspects and Kpler say China has already lined up 10–15 additional Urals shipments for October-November, and at least two 1-million-barrel tankers are waiting off Zhoushan. Market observers note the White House has so far avoided pressuring Beijing, giving it room to expand purchases of discounted Russian barrels. Traders are watching whether upcoming talks between President Trump and Vladimir Putin yield progress on ending the Ukraine war, a factor that could influence future U.S. sanctions policy and crude pricing. For now, the secondary tariff threat has tightened India’s access to Russian discounts, widened China’s, and injected fresh uncertainty into an already fragile post-war oil supply balance.
📉 India's Russian oil imports fell 24.5% in July, with refiners shifting focus to Middle Eastern and U.S. supplies. A significant market shift! #OilImports #EnergyNews #India https://t.co/lkYf9wX2OY
Chinese refiners sweep up Russian oil after Indian demand falls
Pékin profite des menaces américaines contre l'Inde pour augmenter ses propres achats de pétrole russe https://t.co/XyeOSZNoif https://t.co/QLVnPyWhBB