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Modi agrees to drop Russian oil for US-Venezuela Oil.
dw.com - Indias oil shake up can venezuela really replace russiaAfter months of pressure over India's purchases of discounted Russian and sanctioned Iranian crude, New Delhi appears to have bowed to US President Donald Trump's demand by agreeing to phase out Russian oil imports and shift toward buying more barrels from the United States — and potentially Venezuela.
Trump said India could buy $500 billion (424 billion) worth of US energy and coal, along with technology, agricultural and other products.1)This agreement will take time to implement. Could be a year.
2)This agreement will pressure Russia to make concessions in peace talks.
3)Will the volume from Venezuela be enough to make up for Russian crude?
4)Is this deal the real reason behind the Venezuela coup d'tat? A strategy behind US actions in Venezuela?
5)Russian is an cheap oil supplier. Why would India make the deal? Tariffs on India are cut.
nzherald.co.nz - Trump cuts india tariffs says modi will stop buying russian oilUS President Donald Trump has announced a trade deal to reduce tariffs on India, saying that Prime Minister Narendra Modi had promised to stop buying Russian oil over the war in Ukraine.
Trump said he was cutting levies on Indian goods to 18%. He had previously imposed 25% “reciprocal” tariffs on many products, plus an additional 25% for New Delhi’s purchases of Moscow’s oil.A 50% tariff cut to 18%.
