Monday, 28 November, 2022
TopicRussian Oil

Topic: Russian Oil

Indian refiners wary of buying Russian oil after 5 Dec when EU sanctions take effect, says report

India & China had become Russia's biggest customers after the West shunned Russian oil following the outbreak of war in Ukraine.

‘Hope to see India benefiting from Russian oil price cap,’ says US Treasury Secy Janet Yellen

The US and its G7 nations aim to prevent Russia from profiting from oil after its invasion of Ukraine while ensuring that most of its oil continues to flow to global markets.

‘India has moral duty to consumers’ — Hardeep Singh Puri to CNN anchor on purchase of Russian oil

When asked how India would respond if pressured by the EU or US to halt Russian oil purchases, Puri said Modi govt feels no such pressure but also has back up plans ready.

Russia will stop oil supply if G7 price cap imposed, says envoy to India Denis Alipov

The Russian ambassador said stopping supply to global markets would lead to acute shortages and surging prices.

Jaishankar defends India’s Russian oil imports, says moral duty to ensure best deal

The external affairs minister also said US knows India's position on Russian oil imports and has 'moved on', adding that the country has been 'open and honest about its interests.'

‘This is what you call independent’ — Imran Khan praises India resisting US on Russian oil import

The ex-PM, who blames US for 'regime change conspiracy' in Pakistan, commended the Indian foreign minister for asking why the west wasn't questioning Europe on Russian oil imports.

G7 leaders agree to explore global price cap on Russian oil. Here’s why it could be tricky

Unlike EU’s approach of phased ban on 90% of Russian oil by end of year, a price cap would mean allowing countries to continue to import Russian oil but limiting the price.

Sizzling oil prices burning a hole in your pocket, but refiners are making a killing

While state-run refiners have recorded higher-than-usual margins in 2021-22, the margins are more for private players as they are the biggest beneficiaries of cheap Russian crude.

OPEC’s second largest producer Iraq hit as cheap Russian oil flows into Asia

Basrah Medium & Heavy crude, Iraq's main exported grades, face a threat in international markets as major buyers, India & China prefer discounted Russian crude oil after Ukraine invasion.

US says India, China may be buying more Russian oil than believed, easing supply crunch

The price of West Texas Intermediate crude has fallen to just over $105 from more than $122 earlier this month — raising hopes that pressures may ease at the gas pump.

On Camera

YourTurn

Representative image | Pixabay

Apple revolutionised smartwatch. Then came the budget wave and more—AmazFit, Fitbit to Samsung

The Fitbit Versa 4 and Sense 2 are good options for fitness fiends who want a smartwatch for fitness tracking only, while Garmin is great for extreme sports enthusiasts.
Representative image | Reuters

GameFi is revolutionising global NFT market. Here’s how crypto regulations could shape it

GameFi is the intersection of gaming and finance in an environment driven by use of blockchain, non-fungible tokens and smart contracts.

Defence

Illustration: Soham Sen | The Print

Modi govt moves with Arunachal Frontier Highway, among India’s ‘toughest’ projects yet, China in mind

The 2,000 km-long highway will be of strategic importance to military. Same equipment used on other side of LAC being deployed to carry out work on tough terrain, say officials.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.