India Pulls Back From Russian Oil as U.S. Trade Deal Nears
Market Intelligence Analysis
AI-PoweredIndia is avoiding Russian oil deals in anticipation of a trade deal with the US, which would reduce import tariffs on Indian products. This move suggests a shift in India's stance on Russian oil imports. The impact on global oil markets is yet to be seen.
Market impact analysis based on neutral sentiment with 80% confidence.
Article Context
Indian refiners are still avoiding Russian oil as deals for delivery in April begin to be made, Reuters has reported, citing unnamed sources from the refining industry as well as traders. According to the report, the avoidance comes in anticipation of the trade deal between New Delhi and Washington, scheduled to be finalized in March. The deal would see the United States reduce import tariffs on Indian products, including a 25% special tariff that President Trump imposed on India in punishment for its buying of Russian crude oil. If the Reuters…
Analysis and insights provided by AnalystMarkets AI.