By Admin 
Chinese refineries have increased the purchase of crude oil from Russia. This increase has happened at a time when the demand for oil from Russia has decreased from India. US President Donald Trump has warned that a secondary tariff can be imposed on the countries buying oil from Russia to put pressure on Moscow and end the Ukraine War.
China saw ‘opportunity’ in Russia oil
Senior analyst Mayu Shu of Kepler, who tracks commodity and shipping data, said that this move of China is ‘opportunism’, as Russian oil is at least $ 3 per barrel cheaper than the Middle East.
India reduced purchases, China handed over a chance
According to the Reuters report, the Indian government refineries banned the purchase of Russian oil last month. According to Jones of Energy Aspects, India has reduced its purchase of about 6 to 7 lakh barrels per day. Mayu Shu says, ‘Right now there is a very good opportunity for China to shop, because the pressure of Trump continues on India. Prices are low, so more refineries can be purchased in the next one or five weeks.
China bought 15 cargo for delivery
According to Reuters, China has bought 15 cargo from Russia for the delivery of October and November. After the Russia’s attack on Ukraine in 2022, western countries reduced the purchase of oil from Russia. After this, India emerged as the biggest buyer of Russia, which buys oil by sea route at cheap prices.
Trump imposed 50 percent tariff on India, also warns China
Trump said that at present there is no plan to impose a tariff immediately on China, but ‘in two to three weeks’ can be considered. At the same time, Trump has first imposed 25 percent tariff on India and has also announced to impose 25 percent extra tariff, which will be applicable from August 27.
China will not be able to fulfill India’s deficiency
Analyst Shu said that China buys about 1.2 million barrels of Russian oil on the sea route daily, but it is not enough to fulfill India’s deficiency as India buys about 17 lakh barrels of oil daily from Russia. He said, ‘If India stops buying, it will be a big problem for Russia. China alone cannot take full quantity of India.