US adviser Navarro says India's Russian crude buying must stop ...Middle East

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New Delhi was “now cozying up to both Russia and China,“ Navarro wrote in an opinion piece published in the Financial Times on Monday.

India's Foreign Ministry has previously said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia.

“India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs,“ Navarro wrote.

Separately, Indian Oil Corp, the country's top refiner, will continue to buy Russian oil depending on economics, the company's head of finance Anuj Jain told an analyst meeting on Monday.

He said purchases for the September quarter were continuing and the discounts on Russian oil were in the range of $1.50 per barrel to the Dubai benchmark.

Indian Prime Minister Narendra Modi is set to meet Chinese President Xi Jinping at the end of the month while Chinese Foreign Minister Wang Yi will visit India from Monday for talks on the disputed border between the two countries.

A planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been called off, a source said over the weekend, delaying talks on a proposed trade agreement and dashing hopes of relief from additional U.S. tariffs on Indian goods from August 27 - REUTERS

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