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Indian imports of Russian coal fall, US shipments rise

Money Control

Money Control · 1y ago

Indian imports of Russian coal fall, US shipments rise

Indian imports of Russian coal have decreased while imports from the US have increased in the three months leading up to May, according to data from coal consultancy Bigmint. The drop in Indian imports of Russian coal is mainly attributed to Russian supplies becoming less competitive. Thermal coal shipments from Russia saw a 67% decline, while purchases of steelmaking grades increased. The decline in Russian coal imports by India follows fresh western sanctions on Russia due to the war in Ukraine. However, buyers stated that the main issue affecting Russian coal was the drop in global prices rather than the sanctions.

Related News

Lured by discounts, Indian steelmakers lap up Russian coking coal | Mint

Livemint

Livemint · 11m ago

Lured by discounts, Indian steelmakers lap up Russian coking coal | Mint

India's imports of coking coal from Russia have increased by 53% year-on-year between January and August, making Russia the third-largest supplier of the fuel to India. The lower cost of Russian coal, available at a discount of 15-20% compared to other sources, has attracted buyers like JSW Steel and Steel Authority of India Ltd (Sail) in an effort to reduce costs. However, the poor quality of Russian coal compared to Australian supplies and geopolitical sensitivities may limit further expansion of Russian imports. Australia remains the largest supplier of coking coal to India, accounting for over half of the total imports.

India’s trade gap narrows to $20.7 billion as cheaper oil, sluggish gold imports ease June deficit

Economic Times

Economic Times · 1m ago

India’s trade gap narrows to $20.7 billion as cheaper oil, sluggish gold imports ease June deficit

India's merchandise trade deficit narrowed to $20.7 billion in June 2025, down from $21.9 billion in May, due to declining crude prices, decreased gold imports, and a diversified sourcing strategy. Russian and US oil imports rose, while traditional suppliers decreased. India's petroleum product exports dropped by nearly 10%. Gold imports decreased due to soaring prices, while coal imports remained stable. Trade measures included anti-dumping duties and import restrictions. Future trade deficits depend on global commodity price trends.

India tops US smartphone supply in June quarter as Apple shifts from China

Economic Times

Economic Times · 1m ago

India tops US smartphone supply in June quarter as Apple shifts from China

India became the top supplier of smartphones to the US in the June quarter, driven by Apple's shift from China due to trade uncertainties. According to Canalys, the share of US smartphone shipments assembled in China decreased, while India's shipments to the US surged by 240%, now accounting for 44% of imports. Apple's supply chain shift is part of a China Plus One strategy, leveraging Indian manufacturing for the US market.

Indian fuel exports escape Trump's tariff net, no Russian penalty yet

Economic Times

Economic Times · 27d ago

Indian fuel exports escape Trump's tariff net, no Russian penalty yet

India's exports of petroleum products to the US remain exempt from Trump's proposed tariffs, maintaining a favorable trade position despite his concern over India's energy ties with Russia. The US administration hasn't indicated any penalty for India's Russian crude imports. Indian fuel exports, valued at over USD 4 billion in the 2024-25 fiscal year, remain unaffected. India's reliance on Russian oil has increased since the Ukraine conflict, supplying 35-40% of its crude imports.

Why India's Russian oil imports sparked US tariffs amid Ukraine peace talks

Economic Times

Economic Times · 2d ago

Why India's Russian oil imports sparked US tariffs amid Ukraine peace talks

India continues to import substantial amounts of Russian oil despite diplomatic tensions due to energy security needs and economic considerations. The country, heavily reliant on oil imports, finds it challenging to replace Russian supplies due to cost issues. This stance has led to US tariffs, as Washington associates these imports with funding Russia's Ukraine war. Nonetheless, India has diversified oil sources, balancing Russian imports with alternatives from the US and Middle East, driven by national interest and market rates.

India accuses EU, US of double standard over Russian trade

Economic Times

Economic Times · 23d ago

India accuses EU, US of double standard over Russian trade

India has criticized the US and EU for urging it to cease Russian oil purchases while they continue trade with Russia. Prime Minister Modi's BJP and opposition Congress united against US tariffs on Indian goods over this issue. India highlighted extensive EU-Russia trade and US imports of Russian resources like uranium and palladium. Experts predict a 30% drop in India's exports to the US, and India's Foreign Ministry called the criticism unjustified and hypocritical.

India's Russian oil imports up slightly in January-June, data shows

Economic Times

Economic Times · 1m ago

India's Russian oil imports up slightly in January-June, data shows

India's imports of Russian oil slightly increased in the first half of the year, with private refiners Reliance Industries Ltd and Nayara Energy being the main buyers. India imported approximately 1.75 million barrels per day from Russia, a 1% rise from last year. Russia accounted for about 35% of India's oil imports, maintaining its position as India's top supplier. This increase occurred amid continued discounted oil sales following Western sanctions on Russian oil.

Reliance Industries to evaluate impact of EU sanctions on Russian oil trade

Economic Times

Economic Times · 1m ago

Reliance Industries to evaluate impact of EU sanctions on Russian oil trade

Reliance Industries Ltd (RIL) is evaluating the impact of new EU sanctions on Russian oil and petroleum products, affecting Indian exports. These sanctions target petroleum products refined from Russian crude, impacting Indian refiners like RIL. India's crude imports from Russia total $50.3 billion. RIL is assessing the sanction definitions and potential impacts on exports to the EU, emphasizing diversification through markets in the US, Africa, Singapore, and the Middle East.

Taiwan expands Russian sanctions to stop tech being used for arms

Economic Times

Economic Times · 1y ago

Taiwan expands Russian sanctions to stop tech being used for arms

Taiwan has expanded its Russian sanctions to prevent technology from being used for arms. This move comes as part of Taiwan's ongoing efforts to counter Chinese military influence. By imposing restrictions on Russian technology imports, Taiwan aims to ensure that cutting-edge technology does not fall into the wrong hands and is not used to strengthen China's military capabilities. The expansion of sanctions reflects Taiwan's commitment to safeguard its security amidst growing geopolitical tensions in the region.

Business as Usual: India buys 2 mn bpd Russian oil in August

Economic Times

Economic Times · 14d ago

Business as Usual: India buys 2 mn bpd Russian oil in August

India's purchase of Russian oil increased to 2 million barrels per day in August, as refiners prioritize economic decisions. Imports from Russia, accounting for 38% of Indian crude oil imports, rose from 1.6 million bpd in July, impacting imports from Iraq and Saudi Arabia. Despite narrowing discounts, Russian oil remains a significant portion of India's crude intake, highlighting the country's flexible procurement strategy focused on energy security amidst geopolitical tensions and changing market dynamics.

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