Rhenus Group Strengthens LATAM Region as Blu Logistics Rebrands to Rhenus Logistics
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About Rhenus
The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 8.2 billion. 41,000 employees work at 1,330 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.
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New Straits Times
20 hours ago
- New Straits Times
Trump again threatens India with harsh tariffs over Russian oil purchases
WASHINGTON: US President Donald Trump again threatened on Monday to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack "unjustified" and vowed to protect its economic interests, deepening the trade rift between the two countries. In a social media post, Trump wrote, "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine." "Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. A spokesperson for India's foreign ministry said in response that India will "take all necessary measures to safeguard its national interests and economic security." "The targeting of India is unjustified and unreasonable," the spokesperson added. Trump has said that from Friday he will impose new sanctions on Russia as well as on countries that buy its energy exports, unless Moscow takes steps to end its 3-1/2 year war with Ukraine. Russian President Vladimir Putin has shown no public sign of altering his stance despite the deadline. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite Trump's threats. India has faced pressure from the West to distance itself from Moscow since Russia invaded Ukraine in early 2022. New Delhi has resisted, citing its longstanding ties with Russia and economic needs. Trump had already in July announced 25 per cent tariffs on Indian imports, and US officials have cited a range of geopolitical issues standing in the way of a US-India trade accord. Trump has also cast the wider BRICS group of developing nations as hostile to the United States. Those nations have dismissed his accusation, saying the group promotes the interests of its members and of developing countries at large. CRUDE BUYER India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million barrels per day of Russian oil from January to June this year, up 1 per cent from a year ago, according to data provided to Reuters by trade sources. India began importing oil from Russia because traditional supplies were diverted to Europe after the outbreak of the Ukraine conflict, the Indian spokesperson said, calling it a "necessity compelled by global market situation." The spokesperson also noted the West's, particularly the European Union's, bilateral trade with Russia: "It is revealing that the very nations criticizing India are themselves indulging in trade with Russia." Despite the Indian government's defiance, the country's main refiners paused buying Russian oil last week, sources told Reuters. Discounts to other suppliers narrowed after Trump threatened hefty tariffs on countries that make any such purchases. Indian government officials denied any policy change. The country's largest refiner, Indian Oil Corp, has bought 7 million barrels of crude from the United States, Canada and the Middle East, four trade sources told Reuters on Monday. India also has been frustrated by Trump repeatedly taking credit for an India-Pakistan ceasefire that he announced on social media in May, which halted days of hostilities between the nuclear-armed neighbors. The unpredictability of the Trump administration creates a challenge for Delhi, said Richard Rossow, head of the India program at Washington's Center for Strategic and International Studies. "India's continued energy and defense purchases from Russia presents a larger challenge, where India does not feel it can predict how the Trump administration will approach Russia from month to month," he said.
Malay Mail
20 hours ago
- Malay Mail
India vows to defend interests after Trump threatens tariff hike over Russian oil
WASHINGTON, Aug 5 — President Donald Trump threatened yesterday to hike US tariffs on goods from India over its purchases of Russian oil—a key source of revenue for Moscow's war on Ukraine. New Delhi quickly pushed back, saying the move was unjustified and vowing to protect its interests. Trump's heightened pressure on India comes after he signaled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, more than three years since Russia's invasion. Moscow is anticipating talks this week with the US leader's special envoy Steve Witkoff, who is expected to meet President Vladimir Putin. Yesterday, Trump said in a post to his Truth Social platform that India was 'buying massive amounts of Russian Oil' and selling it for 'big profits.' 'They don't care how many people in Ukraine are being killed by the Russian War Machine,' Trump added. 'Because of this, I will be substantially raising the Tariff paid by India to the USA.' He did not provide details on what tariff level he had in mind. Even before the threat, an existing 10 per cent US tariff on Indian products is expected to rise to 25 per cent this week. 'The targeting of India is unjustified and unreasonable,' India Foreign Ministry spokesman Randhir Jaiswal said in a statement, after Trump's announcement. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.' India has become a major buyer of Russian oil, providing a much-needed export market for Moscow after it was cut off from traditional buyers in Europe because of the war. That has drastically reshaped energy ties, with India saving itself billions of dollars while bolstering Moscow's coffers. But India argued it 'began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict.' The world's most populous country is not an export powerhouse, but the United States is its largest trading partner. — AFP
Free Malaysia Today
a day ago
- Free Malaysia Today
India slams ‘unjustified' action by US, EU over its Russian oil purchases
US President Donald Trump vowed to raise tariffs on India, accusing it of buying Russian oil and reselling it for profit. (Gazprom pic) NEW DELHI : India's foreign ministry said Monday that the United States and European Union were 'targeting' it due to its buying of Russian oil, adding that the moves were 'unjustified' and that it would protect its interests. 'The targeting of India is unjustified and unreasonable,' India foreign ministry spokesman Randhir Jaiswal said in a statement, after US President Donald Trump vowed to raise tariffs on the country over its oil purchases from Russia. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.' It did not provide further details on the measures. India became a major buyer of Russian oil, providing a much-needed export market for Moscow after it was cut off from traditional buyers in Europe because of the Ukraine war. New Delhi saved itself billions of dollars while bolstering Moscow's coffers. But India on Monday argued it 'began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict'. It also noted that Washington at that time had 'actively encouraged such imports by India for strengthening global energy markets stability.' It pointed to what it suggested were double standards of EU and US trade with Moscow. 'It is revealing that the very nations criticising India are themselves indulging in trade with Russia,' Jaiswal added. 'Unlike our case, such trade is not even a vital national compulsion.' Jaiswal singled out examples of where deals were being done with Moscow. 'Europe-Russia trade includes not just energy, but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment,' the statement added. 'Where the US is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers as well as chemicals.' India, the world's most populous country, was one of the first major economies to engage the Trump administration in broader trade talks. The United States is India's largest trading partner, with New Delhi shipping goods worth US$87.4 billion in 2024. India's protectionist trade policies, however, saw it run up a surplus of nearly US$46 billion the same year. On Monday, Trump said in a post to his Truth Social platform that India was 'buying massive amounts of Russian Oil' and selling it for 'big profits.' 'Because of this, I will be substantially raising the Tariff paid by India to the USA,' he wrote. But he did not provide details on what tariff level he had in mind. For now, an existing 10% US tariff on Indian products is expected to rise to 25% come Thursday. Last month, the EU and Britain sought to ramp up economic pressure on Russia to halt the war in Ukraine by slashing a price cap meant to choke off revenues from key oil exports.
