by HAOYU ZHANG
BEIJING – CHINESE refineries have sharply increased imports of Russian crude as Indian state refiners scale back under pressure from new US tariffs.
China and India emerged as Moscow’s main buyers after Western sanctions over the Ukraine conflict in 2022.
But US President Donald Trump recently announced a 25% tariff on Indian imports, effective August 27, citing New Delhi’s continued oil trade with Russia.
The measure followed an earlier 25% duty imposed after trade talks collapsed, prompting India’s refiners to briefly suspend purchases.
Russian crude oil previously accounted for about 36% of India’s oil supply.
Industry data show China’s state-owned and private refiners have already secured at least 13 Russian cargoes for October and two more for November, mainly from Arctic and Black Sea ports that usually serve India. Analysts described the move as “opportunistic,” noting Russian oil is trading at a $3-per-barrel discount compared to Middle Eastern supplies.
While Trump has warned he may target China for similar purchases, he has indicated no immediate plans to impose tariffs. Analysts expect Beijing to continue expanding Russian imports if Washington maintains pressure on New Delhi.
Reports by Bloomberg and Reuters suggest Indian refiners have quietly resumed buying, with Indian Oil and Bharat Petroleum securing shipments for September and October.
New Delhi has denounced Trump’s tariffs as “unfair and unreasonable,” insisting it will prioritize energy security.
Meanwhile, Russian Deputy Prime Minister Denis Manturov confirmed continued oil supplies to India during talks in Moscow, where both sides reaffirmed a \$100 billion bilateral trade target by 2030.
– CAJ News
