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Russian Strikes Kill at Least 10 in Ukraine, Damage Key Infrastructure
Confirmed
In Short: India has warned the US that new measures to levy tariffs on Russian oil could harm bilateral ties, as the US seeks to pressure Russia over its invasion of Ukraine.
India, the world's third-biggest oil importer, has become a major buyer of Russian oil since the start of the war in Ukraine, taking advantage of discounts prompted by Western sanctions.
The US House of Representatives recently passed a bill authorizing President Donald Trump to impose tariffs of up to 100 percent on countries importing Russian oil and gas, aiming to reduce their dependence on Russian energy.
India's Foreign Ministry stated that the country will prioritize its energy security despite US efforts to limit Russian oil and gas exports, which are crucial for India.
India was already the second-biggest buyer of Russian crude before the war, and now Russian crude is fetching premiums due to supply constraints from the Middle East.
The latest sanction bill stipulates that tariffs of up to 100 percent would be imposed on importers of Russian energy commodities, a move that could strain relations between India and the US.
Meanwhile, Ukraine has continued targeting Russian oil infrastructure as part of its broader effort to disrupt fuel supplies and reduce revenues that Moscow uses to finance its war against Ukraine.
What's confirmed
- India, the world's third-biggest oil importer, has become a major buyer of Russian oil since the start of the war in Ukraine, taking advantage of discounts prompted by Western sanctions.
- The US House of Representatives recently passed a bill authorizing President Donald Trump to impose tariffs of up to 100 percent on countries importing Russian oil and gas, aiming to reduce their dependence on Russian energy.
- India's Foreign Ministry stated that the country will prioritize its energy security despite US efforts to limit Russian oil and gas exports, which are crucial for India.
- India was already the second-biggest buyer of Russian crude before the war, and now Russian crude is fetching premiums due to supply constraints from the Middle East.
- The latest sanction bill stipulates that tariffs of up to 100 percent would be imposed on importers of Russian energy commodities, a move that could strain relations between India and the US.
- Meanwhile, Ukraine has continued targeting Russian oil infrastructure as part of its broader effort to disrupt fuel supplies and reduce revenues that Moscow uses to finance its war against Ukraine.
What's still developing
- India has warned the United States that new measures to levy tariffs over the purchase of Russian oil could impact bilateral ties, hours after the US Congress approved a bill that would give President Donald Trump new abilities to punish buyers of Russian oil.
- The US House of Representatives on Wednesday passed a sweeping sanctions and tariff bill intended to increase economic pressure on Russia over its invasion of Ukraine.
- Goldman Sachs Sees More Upside in Gasoline as Diesel Crunch Deepens What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… India will continue prioritizing the energy security of its population despite attempts by the United States to squeeze Russian oil and gas exports, many of which go to India, the country’s Foreign Ministry said today.
- The statement follows yesterday’s passage of the latest anti-Russian sanction bill, which also includes tariffs for countries that continue to do business with Russia.
- The goal appears to be to stifle Russia’s export revenues to force it to end the war in Ukraine.
- President Donald Trump shows more fondness for Russian President Vladimir Putin than his predecessors did, but most Russia watchers in the West still dwell on Russia’s lagging technology; its failure to rescue allies in Syria, Venezuela, and Cuba; and what they see as its reduction to a vassal of mighty China.
- Washington went on to pursue a policy agenda, including NATO enlargement, that treated Russian power and interests as an afterthought, and the long-standing conflict over Ukraine turned dismissiveness into condescension.
- Ambassador Rose Gottemoeller, who negotiated the New START treaty, described her Russian counterparts in an interview with me as “crack negotiators,” extremely well trained, fluent in the negotiating process, technically capable, and often possessing an advantage in language skills.