China seizes opportunity; imports maximum oil from Russia; US double standards exposed

 

 

While the US and the European Union are pressuring India for importing Russian oil, China is importing maximum oil from Russia. China is buying Russian oil by cutting crude oil imports from Saudi Arabia. China is importing maximum Russian oil when US President Donald Trump announced that he would impose heavy tariffs on India, which imports large amounts of crude oil from Russia. In September, Chinese refineries reduced orders to buy crude oil from Saudi Aramco. The reason for the reduction in imports from Saudi Arabia is the availability of Russia's Urals crude and large reserves. Since there are no similar measures against China despite pressure on India over Russian energy imports, it is indicated that Chinese refineries will become major importers of Russian oil.

Heavy tariffs against India

Earlier this month, Donald Trump announced that he would impose an additional 25% tariff on products from India citing Russian crude oil imports. The move, which will come into effect on August 28, will see tariffs on some Indian products increase by up to 50%. The US imported around $87 billion worth of goods from India in 2024. Meanwhile, Trump has also decided to give a 90-day break to the tariff war with China. This will help the US avoid tariffs on Chinese products rising to 145%.