Tidbits, India, Crop Conditions, ENSO, Export Inspections 8/5/25
- Wright team
- 6 days ago
- 4 min read
Tidbits
Crude & palm oil: India’s top crude refiners did not purchase any crude from Russia last week after President Trump threatened secondary tariffs on the buyers of Russian products. However, alternative crude sources were so few, the Indians decided to off-load more than 3 million barrels of Russia’s flagship Urals grade over the weekend. Bloomberg reports that Indian Prime Minister Modi did not instruct local oil refineries to stop purchasing Russian oil and did not make a decision to suspend energy imports from Russia. Both state-owned and private Indian oil refining companies are allowed to purchase oil from preferred suppliers.
India on Monday denounced as unfair the mounting pressure from the United States and European Union over its continued purchases of Russian oil, vowing to protect its national interests.
"Like any major economy, India will take all necessary measures to safeguard its national interests and economic security," Foreign Ministry spokesman Randhir Jaiswal said. "It is revealing that the very nations criticizing India are themselves indulging in trade with Russia".
Jaiswal pointed to ongoing Europe-Russia trade involving fertilizers, chemicals, iron and steel, machinery, and transport equipment. He also noted that the U.S. continues to import Russian uranium hexafluoride for its nuclear industry, palladium for electric vehicles, fertilizers and other industrial goods.
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