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India diversifies petroleum exports to new destinations
Business Standard
|November 07, 2025
Move comes as traditional buyers of the country reduce imports
India is shifting its refined petroleum exports to newer destinations such as Jordan, Hong Kong, and Spain, as traditional buyers like the Netherlands, France, and Indonesia reduce their imports.
The US stepped up pressure on India to halt purchases of discounted Russian crude oil after Donald Trump assumed office in January this year. On August 7, US President Trump imposed an additional 25 per cent tariff on India for buying Russian oil, effective from August 27, doubling the total tariff to So per cent.
The US has also urged the European Union to apply secondary sanctions on India, implicitly discouraging its member states from purchasing Indian petroleum products.
This story is from the November 07, 2025 edition of Business Standard.
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