Tag: Oil Imports
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Oil Prices in India: Will a US-Venezuela War Spike Costs?
Overview: A geopolitical shock and its ripple effects Global oil markets are highly sensitive to geopolitical risk, sanctions, and supply disruptions. If the United States escalates against Venezuela, one of the world’s former majeure sources of heavy crude, India could see changes in price dynamics, import costs, and inflation. While India imports a broad mix…
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Oil Prices in India: How US War on Venezuela Impacts
Introduction: A potential shockwave for Indian oil markets The prospect of a US-led military confrontation with Venezuela raises immediate questions about oil price dynamics in India. As one of the world’s largest energy importers, India’s refiners and consumers are sensitive to disruptions in supply, sanctions, and global risk appetite. While war in Venezuela is not…
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Twiggy Forrest Calls for Quick Action to Close Russian Oil Loopholes in Australia
Australia’s Push to Close Russian Oil Loopholes Gains Urgency One of Australia’s most influential business figures is sounding the alarm over what he calls a risky gap in the nation’s sanctions regime. Fortescue Mining founder Andrew “Twiggy” Forrest has urged Prime Minister Anthony Albanese’s government to move decisively to stop oil of Russian origin from…
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Twiggy Forrest calls for end to Russian oil loopholes in Australia
Industry titan calls for decisive sanctions tightening One of Australia’s most influential business leaders, Fortescue Mining founder Andrew “Twiggy” Forrest, has publicly pressed the Albanese government to close a series of sanctions loopholes that may allow Russian-origin oil to enter Australia. While global sanctions on Moscow intensify, industry insiders and policymakers warn that gaps in…
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Twiggy Forrest Demands Action to Close Russian Oil Loopholes in Australia
Summary of the Call to Action One of Australia’s most influential business figures, Fortescue Mining founder Andrew “Twiggy” Forrest, has urged the Albanese government to take immediate steps to block Russian-origin oil from entering Australia. In a climate of escalating sanctions pressure on Moscow, Forrest warns that existing loopholes could undermine Australia’s commitment to a…
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Reliance to halt sanctioned Russian crude imports to safeguard Western market access
Reliance moves to curb Russian crude imports Reliance Industries, India’s largest private sector energy company and the biggest buyer of Russian crude in the country, is taking steps to reduce purchases of Russian oil and is preparing to stop imports from sanctioned Russian entities. The move aligns with mounting pressure from Western sanctions aimed at…
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India Rejects Trump’s Claim on Modi and Russian Oil Purchases
India Rejects Trump’s Claim About Modi and Russian Oil The Indian government on Thursday rejected a public assertion by former U.S. President Donald Trump that Prime Minister Narendra Modi had promised to halt purchases of oil from Russia. The Ministry of External Affairs (MEA) at its weekly briefing made clear that there was no telephonic…
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India Rejects Trump Claim of Modi Promise to Halt Russian Oil Purchases
India Rebuffs Trump’s Claim on Modi and Russian Oil In a developments-filled week, India’s External Affairs Ministry (MEA) explicitly denied Donald Trump’s assertion that Prime Minister Narendra Modi promised to halt imports of Russian oil. The clarification underscores New Delhi’s stance that its energy policy is driven by core national interests and consumer protection, rather…
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India prioritizes consumer interests in oil imports amid diversification
India Reaffirms Consumer-Centric Approach to Oil and Gas Imports India’s government underscored its commitment to safeguarding the Indian consumer as it broadens and diversifies its oil and gas sourcing. In a statement issued on Thursday, October 16, 2025, a spokesperson for the Ministry of External Affairs (MEA), Randhir Jaiswal, emphasized that import policies are guided…
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Zelenskyj Urges Partners to Enforce Sanctions
Zelenskyj’s Call for Action Ukrainian President Volodymyr Zelenskyj has sent a strong message to global partners, urging them to cease finding excuses for delaying the imposition of sanctions against Russia. In a recent post on social media platform X, he emphasized the importance of united efforts in imposing sanctions, particularly targeting the import of Russian…