Trump ordered India to stop buying Russian oil and imposed 50% tariffs when it refused

India’s oil trade and currency markets are taking a direct hit after the policy split between Washington and Brussels on Russian oil blew wide open this ￰0￱ October, India’s imports of Russian crude are expected to fall slightly from recent levels, while the rupee just collapsed to its lowest level ever against the dollar. It’s the fallout of Donald Trump’s pressure campaign at Russia that is landing squarely on India’s ￰1￱ U. S., EU, and G7 allies had all agreed after the Ukraine invasion to limit Russian energy profits without halting oil flows ￰2￱ workaround was a price cap system: third countries like India could still import Russian oil, but only below a set ￰3￱ goal was to keep barrels moving but cut off Kremlin ￰4￱ Trump stepped in.

Trump, now back in the White House, abandoned the original cap approach and told India to stop importing Russian oil ￰5￱ New Delhi said no, Trump slapped India with 50% tariffs on its exports to the ￰6￱ tied the sanctions to a broader push to force Moscow into a Ukraine ￰7￱ tariffs kicked in last month and are already cutting ￰8￱ demands total halt, EU pushes for tighter caps The EU isn’t on the same ￰9￱ Commission President Ursula von der Leyen said Wednesday that the bloc is looking to speed up its phase-out of Russian fossil ￰10￱ just lowered the Russian oil price cap from $60 to $47.60 per barrel, but the U. S. didn’t support the ￰11￱ officials are now in Washington, trying to salvage coordination with the ￰12￱ Bronze, head of geopolitics at Energy Aspects, said , “Sanctions coordination between the ￰13￱ the other G7 nations does seem to have largely broken down under the Trump administration.” That breakdown has India stuck between two approaches; one encouraging discounted trade, the other demanding a full shutdown.

Meanwhile, Indian oil buyers are trying to protect ￰14￱ traders involved in the sales said Indian importers are now demanding $10 per barrel discounts from Russian sellers to keep within the ￰15￱ September, discounts hovered around $2-3, but now banks are watching every deal closely due to the growing U. S.-EU ￰16￱ everyone is playing ￰17￱ Russian sellers told buyers the discounts were too ￰18￱ traders said those cargoes are being rerouted to China instead. That’s why October shipments to India will likely drop to 1.4 million barrels per day, down from 1.6 million in September and 1.5 million in ￰19￱ EU still allows Western shipping and insurance, but only if oil stays below the ￰20￱ Brent crude now at $67, most Russian barrels sold to India are way above ￰21￱ shippers may be forced out, and Russia is leaning more on its shadow fleet, with tankers covered by Russian insurance and operating outside Western ￰22￱ fuel investor exit as rupee hits all-time low While the oil standoff plays out, the economic impact is already ￰23￱ Thursday, the Indian rupee dropped to 88.44 against the U.

S. dollar, breaking its previous record low of ￰24￱ Reserve Bank of India has been selling dollars to control the speed of the fall, but not to protect any specific level, bankers ￰25￱ investors have pulled $11.7 billion out of India’s debt and equity markets this ￰26￱ high ￰27￱ are shaking confidence in India’s financial ￰28￱ other Asian currencies are holding up better, helped by bets that the ￰29￱ Reserve could cut interest rates next ￰30￱ India isn’t getting that same breathing ￰31￱ October oil volumes will be confirmed after trade talks wrap in two ￰32￱ every sign points to India importing less Russian crude, paying more for the barrels it does get, and absorbing the pressure alone while Western allies drift apart on sanctions ￰33￱ your project in front of crypto’s top minds?

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