India, the world’s third-largest oil importer, will only purchase Russian crude if it is supplied by companies and ships not sanctioned by the U.S., Oil Secretary Pankaj Jain said.
Western sanctions on Moscow have disrupted global oil trade, forcing buyers of discounted Russian crude to navigate compliance challenges. Jain emphasized that ensuring compliance is the supplier’s responsibility.
India has become the largest buyer of Russian seaborne oil since Western sanctions curbed purchases in response to Russia’s 2022 attack on Ukraine. While India follows UN sanctions rather than those from individual countries, concerns over secondary U.S. sanctions complicate transactions due to Indian banks' and firms’ exposure to the U.S. financial system.
Recent U.S. sanctions targeting Russia’s oil supply chain have impacted Indian refiners, raising tanker freight costs as some buyers and ports avoid sanctioned vessels. Indian refiners have made it clear they will not accept cargo linked to sanctioned entities.
“We won’t take risks. Sellers must ensure clean logistics,” said an Indian refining official.
At the India Energy Week conference, Indian companies met with Russian delegates, including Novatek and Sber Bank, to explore potential energy collaborations.
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Central Asian countries and Russia have launched a new platform for industrial cooperation, signalling a shift from traditional trade ties towards deeper production integration.
In the shifting landscape of global power politics, few developments have been as consequential as the steady consolidation of influence by the so-called “Russia–China–Iran bloc.”
Armenian Prime Minister Nikol Pashinyan said Armenia and Russia have agreed to continue implementing previously reached agreements in the military-technical sphere following his meeting with Russian President Vladimir Putin in Moscow.
The Trump administration extended a sanctions exemption on some Russian oil as prices continue to skyrocket in the wake of the U.S.- Israeli war against Iran on Friday (17 April).
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
A powerful 7.5 magnitude earthquake has struck off Japan’s north-eastern coast, triggering urgent tsunami warnings with waves of up to 3 metres expected, prompting residents to seek immediate safety.
Blue Origin, the U.S. space company of billionaire Amazon founder Jeff Bezos, successfully reused and recovered a booster for its New Glenn rocket launched from Florida on Sunday (19 April), in the latest chapter of its intensifying rivalry with Elon Musk’s SpaceX.
Britain’s government outlined plans on Tuesday (21 April) to reduce household energy bills by encouraging wind and solar producers to adopt long-term fixed contracts.
The escalating conflict involving Iran, the U.S. and Israel is fuelling what could become the most severe energy crisis the world has ever faced, according to the head of the International Energy Agency (IEA).
A Canadian woman has been shot dead and 13 others injured in a shooting at the Teotihuacan pyramids on Monday, one of Mexico’s most visited tourist attractions.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 21st of April, covering the latest developments you need to know
Japan on Tuesday unveiled its biggest overhaul of defence export rules in decades, scrapping restrictions on overseas arms sales and opening the way for exports of warships, missiles and other weapons.
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