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Friday, April 1

If India wants to avoid US sanctions, they shouldn't buy too much Russian oil

I'm sure Modi will be relieved to learn that the Biden White House is "allowing" India to buy some Russian oil.

U.S. foreign policy: sowing discord and making enemies wherever it goes.     

U.S. Warns India, Others Against Sharp Rise in Russian Oil Imports -Official | Investing News | US News - March 30

NEW DELHI (Reuters) -A significant increase in Russian oil imports by India could expose New Delhi to a "great risk" as the United States prepares to step up enforcement of sanctions against Moscow for its invasion of Ukraine, a senior U.S. administration official said.

While the current U.S. sanctions against Russia do not prevent other countries from buying Russian oil, the warning raises expectations that Washington will attempt to restrict other countries' purchases to normal levels.

The U.S. official's comment comes ahead of Russian Foreign Minister Sergei Lavrov's two-day visit to New Delhi and during the ongoing visit of U.S. deputy national security adviser for economics Daleep Singh.

Refiners in India, the world's third biggest oil importer and consumer, have been snapping up Russian oil through spot tenders since the war broke out on Feb. 24, taking advantage of deep discounts as other buyers back away. India has purchased at least 13 million barrels of Russian oil since Feb. 24, compared with nearly 16 million barrels in all of 2021.

"U.S. has no objection to India buying Russian oil provided it buys it at discount, without significantly increasing from previous years," said the source who spoke on condition of anonymity. "Some increase is allowed," said the source, who did not offer more detail.

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