US, UK intensify pressure on India, China to curb Russian oil imports
NEW DELHI: Western powers on Thursday (Oct 16) ratcheted up efforts to starve Russia’s oil revenues, with President Donald Trump claiming India pledged to halt purchases and Britain unveiling fresh sanctions on Russian and Chinese energy firms.
Trump said Indian Prime Minister Narendra Modi assured him that India “will not be buying oil from Russia,” calling it a “big step” and adding, “Now we’re going to get China to do the same thing.” However, India’s foreign ministry said it was not aware of such a call.
INDIA MAY CUT BACK IN DECEMBER
While India has refrained from explicitly committing to stop importing Russian crude, three sources familiar with government discussions said Indian refiners are preparing to reduce such purchases starting in December — though no formal directive has been issued.
Russia currently supplies about 36 percent of India’s crude, or roughly 1.75 million barrels per day. With Europe largely cut off from Russian oil, India and China have become key buyers at discounted prices.
Indian officials travelling to Washington for trade talks face US pressure to link broader deals to cuts in Russian oil imports.
BRITAIN IMPOSES SANCTIONS ON RUSSIAN, CHINESE ENTITIES
Meanwhile, the UK joined the diplomatic push by placing sanctions on two major Russian oil firms including Lukoil and Rosneft, and several Chinese refining and port entities, including Shandong Yulong Petrochemical, Shandong Jingang Port, Shandong Baogang International, and Shandong Haixin Port.
Additional sanctions target 51 ships (including LNG tankers) and China’s Beihai LNG Terminal, a buyer of Russian gas, as well as Nayara, a Rosneft-controlled Indian refinery already sanctioned by the EU.
China’s foreign ministry condemned the sanctions, calling them “unilateral” and illegal. It lodged a stern protest and warned the move would destabilise markets without altering Russia’s conduct.
RUSSIA CONFIDENT DESPITE PRESSURE
Russia’s embassy in London accused the UK of attempting to destabilise markets and imposing undue costs on British consumers. Kremlin-aligned voices expressed confidence that the sanctions would not affect Russia’s energy exports or foreign policy.
Deputy Prime Minister Alexander Novak said plans for further cooperation with India would continue unabated. President Vladimir Putin added that Russia’s oil output would ebb only slightly this year, despite drone attacks on its energy infrastructure in Ukraine.
