India Unlikely to Ditch Russian Oil Despite Trump's 100% Tariff Threat
India cannot and likely will not replace all the Russian crude oil it is importing despite the threat of 100% tariffs on its products in the United States, according to analysts. Earlier this month, U.S. President Donald Trump signed into law the “Lindsey O. Graham Sanctioning Russia and Iran Act o
Source: OilPrice.com
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DW NOTE
India buys Russian crude at $30–40 below Brent and runs it through refineries the U.S. cannot afford to sanction. Trump can threaten 100% tariffs, but India will eat the margin squeeze before it goes back to paying full freight for Saudi or Permian barrels — especially with the Strait still closed and Brent at $97.