Trump’s Plan Works: India Stops Buying Russian Oil After Warning — Reuters.
Indian state-owned refineries have suspended the purchase of Russian oil following statements from Donald Trump, Reuters reports.
According to sources, Indian Oil Corp, Hindustan Petroleum, Bharat Petroleum, and Mangalore Refinery have halted their purchases due to reduced discounts on Russian oil and Trump’s threats to impose 100% tariffs on countries cooperating with Moscow.
Instead of Russian oil, the refineries have started buying crude from the Middle East and West Africa.
While private companies Reliance and Nayara remain the largest buyers, state-owned companies control over 60% of India’s refining capacity — about 5.2 million barrels per day.
Earlier, Trump threatened to punish India for buying oil and weapons from Russia.
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