Overview

• Trade adviser Peter Navarro said the doubled duties are set to take effect on August 27 and accused India of running a refining “laundromat for the Kremlin.”
• S. Jaishankar, in Moscow for talks with Sergey Lavrov and a meeting with Vladimir Putin, said India is “very perplexed,” noting the U.S. previously urged New Delhi to help stabilise energy markets by buying Russian crude.
• Russia’s deputy trade representative said crude supplies to India would continue with a roughly 5% discount subject to negotiation.
• China’s ambassador to India publicly opposed the U.S. move and pledged to stand with New Delhi in defending the WTO-centered trading system.
• Indian imports of Russian oil have climbed to about 35% of its intake since 2022; U.S. Treasury Secretary Scott Bessent alleged the share is closer to 42% and claimed about $16 billion in excess profits for Indian firms.