India - US Tariff and Relations | News + Updates
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onlinpunit
Trusted Member
Yasser76
Elite Member
RajaBaja
Trusted Member
India profits from Russian oil amid Ukraine war, says U.S. Treasury chief
In a CNBC interview, Bessent said Russian oil now accounts for about 42% of India’s total purchases, up from less than 1% before the war. He compared this with China, a long-standing buyer of Russian oil, whose share increased only from 13% to 16%.
“They are reselling the oil,” Bessent said. “This is what I would call Indian arbitrage — buying cheap Russian oil and reselling it as a product.”
The minister said some of India’s wealthiest families earned more than $16 billion in excess profits.
Oil market analyst Matt Smith of Kpler noted that India buys Russian oil at a discount due to sanctions, refines it into gasoline and diesel, and then sells the finished products to countries and regions that have imposed restrictions on Moscow, including Europe.
Trump tariffs on India over Russian oil
On Aug. 6, U.S. President Donald Trump announced an additional 25% tariff on Indian goods in response to Russian oil purchases, bringing the total additional tariffs to 50%.
Read also: Fire at Russian Druzhba oil station after Ukrainian drone strike
Trump said the tariffs were meant to put extra pressure on Vladimir Putin to seek ways to end the war in Ukraine.
Read also: Ukraine commits to hosting and maintaining its AI servers on domestic soil
On Aug. 19, India temporarily suspended an 11% import duty on cotton until Sept. 30, signaling to Washington that New Delhi is willing to consider U.S. concerns over agricultural tariffs. The move followed the sudden cancellation of a planned U.S. trade delegation visit to New Delhi from Aug. 25 to 29.
@Hakikat ve Hikmet @PAKISTANFOREVER @mythbuster @Beijingwalker @chinasun @Michael @RealNapster
RajaBaja
Trusted Member
Indian oligarchs received $16 billion in excess profits from Russian oil
20.08.2025 - 12:50
The US has announced the super profits of Indian oligarchs from the purchase of Russian oil, which is processed and sold, in particular, to the EU.
US Treasury Secretary Scott Bessant said this in an interview with CNBC, writes Bloomberg.
According to him, some of the “richest families in India” have benefited from the purchase of Russian crude oil.
“They are simply making a profit. They are reselling. This is what I would call Indian arbitrage – buying cheap Russian oil and reselling it as a commodity. Some of the richest families in India have received $16 billion in super profits,” Scott Bessant emphasized.
In turn, Kpler oil market analyst Matt Smith explained that India buys Russian oil at a discount due to sanctions, processes it into gasoline and diesel fuel, and then sells the product to countries that have imposed sanctions against Moscow, in particular to Europe.
India became the largest buyer of Russian oil in July, importing 1.5 million barrels per day, according to Kpler. China is the second largest buyer of Russian oil, importing about 1 million barrels per day last month.
It should be noted that imports of Russian oil into India have increased sharply since Russia launched a full-scale invasion of Ukraine in February 2022. Before the attack, India imported negligible amounts of Russian oil.
Also read: Europe should stop buying Russian oil through India, says Senator Graham
Raj-Hindustani
Elite Member
Every country wants wealthy businessmen!
People don't understand how economy works .
Healthy businesses and businessmen are the backbone of a nation’s growth. They create jobs, build industries, drive innovation, attract investment, expand exports, and generate the taxes that fund schools, hospitals, and defence. Without them, an economy stalls; with them, a country thrives.
Simple example - Tata group only, more than equal to overall Pakistan's economy.
People don't understand how economy works .
Healthy businesses and businessmen are the backbone of a nation’s growth. They create jobs, build industries, drive innovation, attract investment, expand exports, and generate the taxes that fund schools, hospitals, and defence. Without them, an economy stalls; with them, a country thrives.
Simple example - Tata group only, more than equal to overall Pakistan's economy.
RajaBaja
Trusted Member
Black market Oil sales for a sanctioned nation to make quick profit while your money gives Russians the power to kill nearly 5000 people weekly is "healthy economy"?
So your statement above shows India is ONLY about herself and making money. Even illegal money is ok. Even giving Russians this money is then spent on weapons to kill humans is ok.
Raj-Hindustani
Elite Member
Don’t worry, we’re just following your new daddy, China — the same China making huge profits daily by buying cheap oil and gas, while being responsible for the death of thousands every day.
And please don’t act as if Trump has become a god. If tomorrow he says the sun rises in the west, you’d follow that too. The same way, when he ignores China for his own interests, suddenly China becomes “innocent” in your eyes.
PAKISTANFOREVER
Trusted Member
India profits from Russian oil amid Ukraine war, says U.S. Treasury chief
In a CNBC interview, Bessent said Russian oil now accounts for about 42% of India’s total purchases, up from less than 1% before the war. He compared this with China, a long-standing buyer of Russian oil, whose share increased only from 13% to 16%.
“They are reselling the oil,” Bessent said. “This is what I would call Indian arbitrage — buying cheap Russian oil and reselling it as a product.”
The minister said some of India’s wealthiest families earned more than $16 billion in excess profits.
Oil market analyst Matt Smith of Kpler noted that India buys Russian oil at a discount due to sanctions, refines it into gasoline and diesel, and then sells the finished products to countries and regions that have imposed restrictions on Moscow, including Europe.
Trump tariffs on India over Russian oil
On Aug. 6, U.S. President Donald Trump announced an additional 25% tariff on Indian goods in response to Russian oil purchases, bringing the total additional tariffs to 50%.
Read also: Fire at Russian Druzhba oil station after Ukrainian drone strike
Trump said the tariffs were meant to put extra pressure on Vladimir Putin to seek ways to end the war in Ukraine.
Read also: Ukraine commits to hosting and maintaining its AI servers on domestic soil
On Aug. 19, India temporarily suspended an 11% import duty on cotton until Sept. 30, signaling to Washington that New Delhi is willing to consider U.S. concerns over agricultural tariffs. The move followed the sudden cancellation of a planned U.S. trade delegation visit to New Delhi from Aug. 25 to 29.
@Hakikat ve Hikmet @PAKISTANFOREVER @mythbuster @Beijingwalker @chinasun @Michael @RealNapster
All this while claiming to be an ally of america and the west........
.........indians claim they are doing this to serve their own interest. Well if america and the west stops all the goodies and privileges from going to india, the whole world will find that india is no more powerful and significant than afghanistan or the Congo.
Fatman17
Moderator
You must be related to tata
Raj-Hindustani
Elite Member
No sir, recently they rejected me after 4 rounds because I asked a salary package, no response received further
... No connection!
Last edited:
El Sidd
Elite Member
Are you suggesting that these deals were stuck through corrupt practices?
Raj-Hindustani
Elite Member
It was purely a business decision.
People often forget that the USA itself encouraged India to buy Russian oil so that global prices wouldn’t spike.
And who ends up buying the fuel refined from this Russian oil by India? Mostly European countries — they are the ones getting the real advantages.
1. US had not put restrictions on oil and gas sales with Russia.
2. Only PRICE CAP was enforced and India brough Russian oil within the Price cap.
3. NO US law or International law was violated.
4. This recent "outrage" is just a strawman. The real agenda is to force India to be a replacement market for China.
5. Trump was hoping India will accept US grown GM modified crops, cannibalistic recycling fed chicken and Cow and Milk into its market.
6. If he had ANY sense of Hindu practices or Indian value system he would not have been so foolish to think India has similar consumption pattern as china.
Vapnope
Trusted Member
I thought you were going to teach a lesson to China after op sindoor but guess what, sri Modi ji is going to suck up to Xi now. Doval, Shankar begging China to help India now. Now you call it diplomacy !
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