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Russian oil

Opinions

Sanctions, markets and margins: Why Reliance halting purchase of Russian crude for Jamnagar refinery doesn’t mean India has bent to the US

Divyansh Tiwari -
India and Russia continue to have deeper energy links that are structural rather than transactional. While Rosneft owns over 49% of Nayara Energy's Vadinar refinery in Gujarat, Indian PSUs possess nearly half of Rosneft's Vankorneft subsidiary, a substantial investment in Taas Yuryakh, and a longstanding position in the Sakhalin-1 project.
Editor's picks

Reliance Industries stops import of Russian crude oil amid ban by European Union and expiry of ‘wind down’ period by US: Details

OpIndia Staff -
The European Union, which serves as a key market for RIL, had declared a blanket ban on petroleum product imports that are derived from Russian crude oil in 3rd countries.
Editor's picks

US President Donald Trump resorts to blatant hypocrisy, grants one-year exemption from sanctions to Hungary over purchase of Russian oil and gas

OpIndia Staff -
This was the first meeting between Orbán and Trump since the latter swore in as the US President for the second time.
News Reports

Trump says he will visit ‘Great Friend’ Modi in India next year as trade negotiations progress

OpIndia Staff -
US President Donald Trump confirmed a potential visit to India next year, calling PM Modi a "great friend." He said trade talks are "going very well" and praised India for reducing its oil imports from Russia, a key point in the negotiations.
News Reports

India’s crude imports from Russia rebound in October: Read what drives the monthly fluctuations in India’s energy procurement strategy amid US tariffs pressure

Rukma Rathore -
The primary refiner in India started using Russian oil again, purchasing five shipments for delivery in December.
Editor's picks

Donald Trump again warns of ‘massive tariffs’ if India continues to buy Russian oil

OpIndia Staff -
Donald Trump's regular claims on the purchase of Russian oil have been repeatedly denied by the Modi government.
Editor's picks

‘No phone call between PM and Trump’: MEA after Trump claimed India ‘promised’ not to buy Russian oil

OpIndia Staff -
Donald Trump had alleged, "I was not happy that India was buying oil, and he (Modi) assured me today that they will not be buying oil from Russia." He added that it might take a little time, but the process would be "over soon."
News Reports

Dollar dethroned? India’s use of Chinese yuan for Russian oil redraws the global financial map

Divyansh Tiwari -
As India continues to purchase Russian crude oil despite Donald Trump’s additional 25% tariff, Indian refiners now have started making payments to Russia in China currency Yuan.
News Reports

Taiwan becomes largest importer of Russian naptha in 2025, pays over $1.3 billion to Moscow amid US tariff war on countries buying from Russia:...

Shriti Sagar -
Between December 2022 and August 2025, China was by far the largest global buyer of Russian energy, purchasing 44% of Russia’s coal.
News Reports

Hungary PM schools Poland PM on Russia-Ukraine war, reminds him that leaders should serve their own country: Read why Viktor Orban is refusing to...

Shraddha Pandey -
While the feud between Hungary and Poland has spilled over into scathing exchanges on X, the spat began on 29th September when, Polish PM Donald Tusk, speaking at the Warsaw Security Forum, declared the Ukraine war as “our war”. He stressed that Russia’s victory in the ongoing war ‘threaten’ Poland, Europe and the world, inflicting consequences for future generations.
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