India-US Trade Deal: Will the India-US deal have a big impact on the global oil market after Trump’s order?

• Big impact of India-US trade agreement
• The deal is likely to reduce Russian oil imports
• Except for Naira Energy, other refineries will limit purchases

India-US Trade Deal: The recent trade agreement between India and the US has completely changed the dynamics of the global oil market. Due to the India-US trade deal, Russian oil imports are expected to decrease. US President Donald Trump (Donald Trump), India is likely to significantly reduce Russian oil imports. Specialists believe that the supply of Russian oil is likely to decrease by up to 50% from the current level in the coming period. After the Russia-Ukraine war, India became the largest buyer of Russian oil, but now the graph seems to be coming down. Now, even though the refineries are at a standstill after the deal, all eyes are on the new Russian order, energy security.

Anil Ambani ED Investigation: Ambani couple’s troubles rise; ED summons Anil and Tina Ambani

According to Vandana Hari, founder of Singapore-based consultancy Wanda Insights, the overall economic benefits of a trade deal with the US would far outweigh concessions on Russian oil, a policy shift India has been pursuing for months. Following the US order, Indian oil refineries have stopped buying new spot cargoes for now. Also, pause mode has been turned on and government and private refineries have stopped placing new orders, though deliveries of pre-booked cargoes will be taken up, it said. Apart from this, Naira Energy is an exception. Rosneft-backed Naira Energy can continue to buy roughly 400,000 bales per day as it cannot get oil from other sources due to technical reasons.

Indian Mutual Fund Market: Has Investors’ Trends Changed? Low on equities, trend towards gold

The executive order issued by the US White House clarified that India has committed to stop direct or indirect oil imports from Russia. If India resumes these purchases, US tariffs on all Indian goods may be increased. India’s energy security is our top priority and we will continue to diversify our import sources, the White House said.