Try GOLD - Free
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.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Sugar industry may get sweet reprieve amid ethanol, pricing shocks
Centre's move to export sugar renews optimism that policy momentum may finally turn in favour of producers. Sanjeeb Mukherjee explains
3 mins
November 10, 2025
Business Standard
Of fading strokes and language of Mithila
Despite global acclaim, Bihar’s traditional painting cries for help amid eroding local political backing. Aashish Aryan reports from Darbhanga
2 mins
November 10, 2025
Business Standard
Telcos ask govt for entire 6GHz band
Say it will help fulfil vision of taking global lead in 6G
2 mins
November 10, 2025
Business Standard
Machinery bought for income growth is consumer purchase
Shivajirao More approached Siddhanath Sawant with a proposal that the latter should start a grey-board manufacturing unit, which the Khadi and Village Industries Commission recognised asa family activity.
2 mins
November 10, 2025
Business Standard
India market valuation discount to US widens
Nifty 50 trading at 20% discount, highest in 17 yrs
2 mins
November 10, 2025
Business Standard
Who ate the banks’ cake?
There is an irreversible structural shift in the Indian banking system's deposit dynamics
5 mins
November 10, 2025
Business Standard
Can maths be violent?
BOOK REVIEW: It may surprise most readers to learn that, just a century or so ago, some of the era’s greatest mathematical minds were enlisted in a debate about whether numbers exist.
3 mins
November 10, 2025
Business Standard
Regulators’ body told to create tariff plan for power projects
The power ministry has asked the Forum of Regulators, a joint body of central and state electricity regulatory commissions, to create a tariff determination framework that can be applied to power transmission projects to be covered under the government's asset monetisation programme.
1 mins
November 10, 2025
Business Standard
Indian spirits industry braces up ahead of UK FTA ratification
India’s spirits industry is getting aggressive with strategies as the UK-India free trade agreement (FTA) is awaiting ratification.
3 mins
November 10, 2025
Business Standard
20 states spent 26% of budgeted capital expenditure in H1 FY26
States have spent 26.3 per cent of their budgeted capital expenditure in the first half of 2025-26 (FY26), an analysis of monthly account reports of 20 states released by the Comptroller and Auditor General of India (CAG) showed.
1 mins
November 10, 2025
Listen
Translate
Change font size