US tariff turmoil could see India taking more Russian crude
- Agreed ‘baseload’ level of Russian crude oil imports last week was meant to set the tone for India’s imports of Russian crude oil under the India-US trade deal
- But now, India could be subjected to lower tariffs without having to commit to any trade deal with the US
- Russian crude arrivals into India have already risen this month, before tariffs were reversed. Unsanctioned Russian crude imports to continue
Tonne-miles could rise in both the mainstream and shadow fleet if Russian imports into India returns to levels seen in the past two years
