China, India may need new oil options if Trump moves on Russia ‘secondary tariffs' threat
- China and India stand to bear the brunt of US President Donald Trump's
threat of 100 per cent 'secondary tariffs' on nations trading with Moscow, should Russian President Vladimir Putin fail to negotiate a ceasefire in Ukraine in less than 50 days.
As the two largest purchasers of Russian oil following Western sanctions on Russia for invading Ukraine in early 2022, Beijing and New Delhi receive the bulk of the estimated more than seven million barrels of crude oil and refined products that Moscow exports each day.
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