Trump’s India squeeze to push Russian oil further into the shadows
In the shadow market, Russian crude’s country of origin would be obscured, meaning it could end up in many places
Add BT as a preferred source
[LONDON] Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital revenue, but it will mostly just push more Russian oil into an increasingly large shadow market.
The US president said last Wednesday (Oct 15) that Indian Prime Minister Narendra Modi had pledged to stop buying oil from Russia, an agreement India has yet to confirm.
The South Asian country has become a major trade buyer of Russian oil since Moscow’s invasion of Ukraine in 2022. It purchased 1.9 million barrels per day (bpd) of Russia’s crude in the first nine months of 2025, 40 per cent of its total exports, according to the International Energy Agency.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
Banyan Group heir Ho Ren Yung: ‘Better to be useful than happy’
