Russian Oil Imports Steady in India, China Amid Sanctions, Trade Tensions

Despite threats from the Trump administration to increase tariffs on India for its continued purchase of Russian crude oil, India has secured Russian crude cargoes for September and October, signaling a return to buying driven by widened price discounts. Russian officials reaffirm that crude oil exports to India will remain steady, highlighting the strong and growing trade relationship between the two countries, with no alternative to Russian oil due to its competitiveness and profit margins. Indian crude imports remained stable through mid-August, but data suggests a significant decline in September cargoes, indicating potential future impacts from tariffs and logistical challenges. Meanwhile, China continues to increase its Russian crude purchases, securing at least 15 cargoes for October and November due to attractive pricing, despite potential U.S. tariffs and geopolitical pressures. The trade flows reflect a broader reshaping of global energy markets amid sanctions and diplomatic tensions, with Russia emphasizing increased cooperation within BRICS and strong bilateral ties with India. Overall, both India and China remain key buyers of discounted Russian oil, navigating U.S. tariff threats and evolving global sanctions.