Indian refiners retool as US allows up to 100% tariffs
Indian refiners are reworking their game plan after the US passed a law allowing up to 100% tariffs on countries buying Russian oil.
With these tough new rules set to kick in soon, India's government is stressing the need to keep its energy options open and not rely too much on any one country.
India seeks tariff waivers, diversifies suppliers
To deal with possible US tariffs, India is exploring options for waiver or challenge them and boosting imports from places like Venezuela, Brazil, and Africa.
Russian oil's share in India's imports dropped to 34% in September from around 44-45% in June-August, a sign that more barrels are coming from Iraq, Saudi Arabia, and the United Arab Emirates.
Even with all this reshuffling, India managed to import 5.3 million barrels a day in September while juggling economic needs with global politics.