Indian State Refiners Resume Russian Oil Purchases — Bloomberg

India’s state-owned refiners have resumed purchases of Russian oil after a brief pause caused by U.S. tariffs, Orda.kz reports, citing Bloomberg.

The suspension followed U.S. President Donald Trump’s Aug. 6 announcement of an addditional 25% tariff on India over its continued imports of Russian crude. The measure takes effect on Aug. 27, after a separate 25% tariff on all Indian imports began on Aug. 1.

Indian Oil Corp. and Bharat Petroleum Corp. have since bought several shipments of Russian Urals crude, with deliveries scheduled for September and October. Earlier this month, both companies had halted purchases for those months under U.S. pressure.

Since Russia’s 2022 invasion of Ukraine, India has become one of its largest oil buyers, with imports rising more than twentyfold to over 2 million barrels per day.

U.S. Treasury Secretary Scott Bessent on Aug. 19 called the practice “unacceptable,” warning that continued purchases could trigger tariffs of up to 100% on Indian exports to the U.S.