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Politics : Formerly About Advanced Micro Devices
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To: Wharf Rat who wrote (1551374)8/8/2025 3:59:28 PM
From: Tenchusatsu2 Recommendations

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pocotrader
Wharf Rat

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Seems like TACO's tariffs on India is actually having a positive effect:

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India’s state refiners pause Russia oil buys as US adds pressure (The Economic Times)

India’s state-owned oil refiners are pulling back from purchases of Russian crude for now, according to people with direct knowledge of the companies’ procurement plans, as Washington ratchets up the pressure on New Delhi over the flows with a wave of harsh tariffs.

Companies including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle, until there’s clear government guidance, said the people, who asked not to be identified as they aren’t authorized to speak publicly. That will affect buying of the Russia’s Urals cargoes for October-loading, they added.

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I didn't expect Indian companies to cave that quickly to Trump's tariff threat.

This tells me a few things:

#1 - Indian refineries already planned for this and have lined up alternative suppliers in case RuZZian oil suddenly becomes off-limits to them.

#2 - I was right. India is indeed bullshitting about their "sovereign energy security." The truth might be that India can shift their sources for crude oil on a dime. They have a fat profit margin already, plus they have contingency plans that may already be going into effect.

#3 - The price difference between RuZZian crude and crude from other sources may not be that big. Or the discount that RuZZia has to offer for their crude oil may already be eaten up by the additional costs of smuggling that oil over a "shadow fleet" of old, decrepit tankers.

On the other hand:

#1 - RuZZian oil makes up about 35% of India's crude oil imports. That's huge. No way India can totally divest itself away from RuZZian oil without a LOT of headaches.

#2 - The Indian refineries might not be ceasing purchases of RuZZian oil overall. Instead, they may simply be pausing their purchases in light of the uncertainty. According to that article from The Economic Times, these refineries may be able to wait about a month and a half before making a decision either way. Any longer delay will have a material impact on RuZZian oil revenues.

#3 - How can anyone plan for the future when TACO Supreme Commander shifts economic policy affecting billions of dollars on a whim?

This video from RFU YouTube paints a rather optimistic picture regarding India halting RuZZian oil purchases, but it also provides key facts and figures that clarify the situation tremendously ...



Tenchusatsu
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