US EditionOil rebounds on Trump threats to Russian crude buyers
INDIA, AUG 6 – India refuses to yield to U.S. tariff threats, asserting its right to affordable Russian oil imports that supply about 40% of its crude needs, officials said.
- President Donald Trump plans to impose a 25% tariff on Indian exports due to India's purchases of Russian oil, aiming to exert pressure on both India and Russia.
- India's Ministry of External Affairs stated that imports from Russia are meant to ensure predictable and affordable energy costs for consumers.
- Trump has threatened sanctions on Russia's shadow fleet of oil tankers unless a ceasefire in Ukraine occurs by August 8th, 2023.
- Bipartisan support in Congress is pushing for tariffs as high as 500% on countries buying Russian energy products, reflecting escalating tension.
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59 Articles
Senator Lindsey Graham called a “turning point” the decision of US President Donald Trump to increase tariffs against India for the purchase of Russian oil.
Oil rebounds on Trump threats to Russian crude buyers
Oil prices rebounded from the previous session's five-week low on Wednesday, as traders focused on U.S. President Donald Trump threatening India with higher tariffs over its Russian crude purchases, and a larger-than-expected U.S. crude draw.
Oil Rebounds on Trump Threats on Russian Crude Buyers
Oil prices rebounded from the previous session's five-week low on Wednesday, as traders focused on US President Donald Trump threatening India with higher tariffs over its Russian crude purchases, and a larger-than-expected US crude draw. Brent crude futures gained $1.11, or 1.6%, to $68.75 a barrel by 1119 GMT, while US West Texas Intermediate crude was up $1.12, or 1.7%, at $66.28 a barrel. Both oil contracts fell by more than $1 on Tuesday to…
Oil Updates — prices rebound on Trump threats on Russian crude buyers
SINGAPORE: Oil prices climbed on Wednesday, rebounding from a five-week low in the previous day, on concerns of supply disruptions after US President Donald Trump’s threats of tariffs on India over its Russian crude purchases. Brent crude futures gained 48 cents, or 0.7 percent, to $68.12 a barrel by 9:45 a.m. Saudi time, while US West Texas Intermediate crude was up 43 cents,
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