Overview

• President Donald Trump’s 50% tariffs on Indian goods, justified by New Delhi’s continued purchases of Russian oil, are now in force as White House adviser Peter Navarro escalates criticism.
• Indian refiners boosted U.S. West Texas Intermediate purchases in August on an open arbitrage and lower freight, with IndianOil buying 5 million barrels for Oct–Nov, BPCL 2 million, and Reliance 2 million via Vitol, according to trade sources.
• Despite higher U.S. buying, trading data indicate Indian refiners plan to raise Russian crude imports in September by about 10–20% (150,000–300,000 barrels per day) as discounts widen.
• ONGC chairman Arun Kumar Singh said group refineries will keep buying Russian oil “as long as it is economical,” noting there is no blanket sanction on Russian crude and that imports follow price-cap rules when applicable.
• Kyiv-based NaftoRynok reports India supplied 15.5% of Ukraine’s diesel imports in July, with shipments moving via Romania’s Danube ports and Turkey’s OPET terminal, a point Indian officials cite in rebutting claims they are bankrolling Russia.