Trump said India “not only buys a large volume of Russia’s oil,” but also sells “a significant portion of the extracted oil in the open market, which makes a huge profit.”
Donald Trump continues to attack India in attempts to reduce Russia’s revenue from oil trade. He threatened to punish India if Indian factories continue to buy a cheap Russian oil that fell under western penalties.
The main buyer
India has become the main consumer of Russian oil, once the Russian export product number one has fallen under American and European penalties for Ukraine invasion. The West did not buy Russia’s oil, but it was not opposed to that oil products made from it continue to enter the world market, but the income will not be Kremlin, but friendly countries like India.
In the absence of a total embargo, such half -steps cannot break Russia’s oil revenues and withdraw it with money to continue invasion and occupation in Ukraine.
Trump has put all imports in the United States from India with a tariff of 25%. For comparison, for the purchase of goods from Europe, Trump puts Americans at 15%, from Britain – 10%.
On Friday, Trump said he had heard that India had decided to reject Russian oil purchases, which was a praise. On Saturday, the leading American publications of the New York Times and Bloomberg reported that there was a reference to unnamed Indian leaders, not so.
On Monday, hardly waking up, Trump threatened to raise a fee for India’s goods to recover from India a habit of cheap energy from Russia.
“India not only buys a large volume of Russian oil, but also sells most of this oil in the open market with a huge profit. It doesn’t matter to them how many people in Ukraine are killing Russia’s military. In this regard, I will significantly increase the tariff that India pays for the United States,” Trump wrote on its own social network.
He did not specify what would be a new tariff when it entered, and under what circumstances India would avoid it.
Practical side
Indian authorities may pretend to be influenced by the situation within a few hours. India as a country does not buy oil. The raw materials are imported by oil companies, and only one of them has a state.
The main potential object of American penalties is an oil refinery in the Vadinar port of the state of Gujarat. The third in the power of the country’s refineries belongs to the private company of India Nayara Energy. A little less than 50% of this is owned by the Russian state company Rosneft.
The European Union imposed sanctions against this plant in July. However, even the penalties in the EU provide a half -month transition period where refinery can find new fuel buyers and diesel made of Russian oil. Moreover, in the light of Trump’s threats, the plant in advance of oil has been dating for months in advance, Bloomberg said on the weekend with the reference to oil entrepreneurs.
Trump is still against oil penalties. He did not support the reduction in the ceiling of Russian oil prices in June. He promised Americans that fuel would be cheaper, and to this day he does everything.
When Trump ordered the Iran bombs in July, bombs flew to nuclear facilities, but not to oil, despite the fact that it brings basic revenue to the Iran regime. Trump has repeatedly called the Royal Palace of Saudi Arabia – the second after the United States is the world’s largest oil manufacturer – which is demanding to increase supply in the world market.
Last weekend, OPEC+Saudis, which also included Russia, was the third largest export of oil, decided to increase market delivery delivery in the world.
The next is China?
As a result, now more than developed the desirable conditions to prevent Russian oil supply in the world market without serious consequences for oil prices in the world. After all, Trump’s trade war and role, including India, describes the suppression of global economic growth – and therefore slowing down oil demand.
Moreover, falling prices are harmful to American oil workers. Unlike Arab countries or Russia, American oil companies are private, not state. They are drilling and producing only when oil is expensive. At low prices, they kill production.
Therefore, the fall of oil quotes in the world market market gives Trump a unique opportunity to put pressure on Russia without caution in America. But for this he needs to pay attention not only to India, but also to the second major buyer of Russia’s cheap oil – China.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.