India’s two largest refiners have secured some 22 million barrels in non-Russian crude for delivery in September and October following President Trump’s decision to impose an additional 25% tariff on Indian imports if it continues buying Russian oil. Per Reuters, which cited unnamed trading sources, the cargos were secured on the spot market, which is not normally a place that large state-owned refiners such as Bharat Petroleum and Indian Oil Corp. frequent. Now, however, under the threat of tariffs, they are switching to alternative…
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