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'Yikes, Seborgan prison is not a place you wanna end up.' Nicole Kraiger, Megaphone Tester
'Really makes you second guess all the other ambassadors that set up shop in your neighbors' garages.' Eugene Garvin, Demolition Scheduler
'The people of Westarctica deserve better.' Bill Erebus, Conspiracy Cataloguer
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Yahoo
4 hours ago
- Yahoo
India will continue to buy Russian oil, government sources say
By Shivam Patel and Chandni Shah (Reuters) -India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources said, not wishing to be identified due to the sensitivity of the matter. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Trump last month indicated in a Truth Social post that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters that he had heard that India would no longer be buying oil from Russia. The New York Times on Saturday quoted two unnamed senior Indian officials as saying there had been no change in Indian government policy, with one official saying the government had "not given any direction to oil companies" to cut back imports from Russia. Reuters reported this week that Indian state refiners stopped buying Russian oil in the past week after discounts narrowed in July. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," India's foreign ministry spokesperson Randhir Jaiswal told reporters during a regular briefing on Friday. Jaiswal added that India has a "steady and time-tested partnership" with Russia, and that New Delhi's relations with various countries stand on their own merit and should not be seen from the prism of a third country. The White House in Washington did not immediately respond to requests for comment. Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said earlier this week. The country's state refiners - Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters. INDIA'S TOP SUPPLIER On July 14, Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35% of India's overall continued to be the top oil supplier to India during the first six months of 2025, accounting for about 35% of India's overall supplies, followed by Iraq, Saudi Arabia and the United Arab the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1% from a year ago, according to data provided to Reuters by sources. Nayara Energy, a major buyer of Russian oil, was recently sanctioned by the European Union as the refinery is majority-owned by Russian entities, including oil major month, Reuters reported that Nayara's chief executive had resigned after the imposition of EU sanctions and company veteran Sergey Denisov had been appointed as CEO. Three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions on the Russia-backed refiner, Reuters reported late last month. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 hours ago
- Yahoo
India will continue to buy Russian oil, government sources say
By Shivam Patel and Chandni Shah (Reuters) -India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources said, not wishing to be identified due to the sensitivity of the matter. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Trump last month indicated in a Truth Social post that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters that he had heard that India would no longer be buying oil from Russia. The New York Times on Saturday quoted two unnamed senior Indian officials as saying there had been no change in Indian government policy, with one official saying the government had "not given any direction to oil companies" to cut back imports from Russia. Reuters reported this week that Indian state refiners stopped buying Russian oil in the past week after discounts narrowed in July. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," India's foreign ministry spokesperson Randhir Jaiswal told reporters during a regular briefing on Friday. Jaiswal added that India has a "steady and time-tested partnership" with Russia, and that New Delhi's relations with various countries stand on their own merit and should not be seen from the prism of a third country. The White House in Washington did not immediately respond to requests for comment. Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said earlier this week. The country's state refiners - Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters. INDIA'S TOP SUPPLIER On July 14, Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35% of India's overall continued to be the top oil supplier to India during the first six months of 2025, accounting for about 35% of India's overall supplies, followed by Iraq, Saudi Arabia and the United Arab the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1% from a year ago, according to data provided to Reuters by sources. Nayara Energy, a major buyer of Russian oil, was recently sanctioned by the European Union as the refinery is majority-owned by Russian entities, including oil major month, Reuters reported that Nayara's chief executive had resigned after the imposition of EU sanctions and company veteran Sergey Denisov had been appointed as CEO. Three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions on the Russia-backed refiner, Reuters reported late last month. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
6 hours ago
- Los Angeles Times
Indian businesses in SoCal brace for 25% tariff hike: ‘More expensive to do business day by day'
A jar of pickled mango, a popular Indian condiment, costs $2.99 at Pioneer Cash & Carry in Artesia. But that price won't hold for long. The grocery store, nestled in the heart of Artesia's Little India, has to raise prices to keep up with its rising costs in light of President Trump's trade policy with India. Beginning Friday, there will be a 25% tariff on Indian goods. Because the two nations could not reach an agreement before Trump's deadline, the president signed an executive order Thursday night authorizing the tariffs for goods from India and several other countries to start in seven days. Several businesses that rely on imported Indian goods in the Los Angeles area told The Times they would have to raise prices to maintain operations with the steep tariff. Business owners expressed anxiety over not knowing what the next couple of weeks or months will look like for their bottom lines. Devraj Keray, the owner of Pioneer Cash & Carry, said some vendors already notified him that prices will go up 25% effective Monday. The business, which is one of the largest Indian grocery stores in California, will have to raise prices on imported Indian products. 'We'll have to pass that on to the consumer,' he said. 'There's not really any way around that.' The grocery store, which has two locations in Artesia, has been owned and operated by family since 1982. Keray said he anticipates customers will buy less, but they'll still need basic grocery items. 'People will cut back, so we'll feel a bit of a pinch,' he said. 'It's getting more and more expensive to do business day by day. It's not going to be easy for the smaller guys.' Artesia's Little India area is a cultural hub for the community, and it's one of the largest Indian enclaves in Southern California. Artesia City Councilmember Zeel Ahir said the strip of businesses along Pioneer Boulevard is the 'heart and soul' of the area for Indians. 'It provides a sense of warmth and a homely feeling to know that the goods that were available in India for some immigrants are available here as well,' said Ahir, who has lived in the area for all her life. India 'is our friend,' Trump said on his Truth Social platform announcing the taxes, but its tariffs on U.S. products 'are far too high.' Trump's announcement of a 25% tariff on Indian goods on Wednesday came after a universal baseline tariff of 10% on imports from all foreign countries has already been in place for months. Indian goods exports to the U.S. totaled more than $87 billion in 2024, according to the Office of the United States Trade Representative. The trade deficit with India was $45.7 billion last year, up more than 5% from 2023. Pharmaceuticals, jewelry, textiles, spices and food products are among the common imports. The Trump administration maintains that tariffs will 'strengthen the international economic position' of the United States and protect American workers. In addition to the 25% tariff on its products exported to the U.S., India is also facing an unspecified penalty for buying Russian oil. 'I don't care what India does with Russia,' Trump wrote in a Truth Social post on Thursday. 'They can take their dead economies down together, for all I care.' Negotiations between the two countries continue, but local businesses are still scrambling to cope with the change in operations. Beyond Artesia, which is in southeast Los Angeles County, the city of Los Angeles has several Indian grocery stores, apparel stores and other businesses that depend on Indian imports. Dalbir Singh Ghotra, the owner of Kavita Grocery in the Palms neighborhood, said the tariff would 'spell disaster for small businesses like us.' After running the grocery store for the past three decades and keeping doors open through tough economic periods, Ghotra said he's already seen sales drop recently as customers have tightened their belts amid growing economic uncertainty. Just down the road at Bollywood Styles, a clothing and accessory store, owner Sneh Prasad said recent sales have dipped to the lowest levels she's recorded in roughly 18 years, she said. With the vast majority of her inventory imported from India, Prasad is concerned about what lies ahead. 'Businesses have already become harder for mom-and-pop stores like us,' she said. 'If the import prices go up, I do not know how we will survive since sales may fall drastically.' Many business owners said they have already seen foot traffic and sales slow down this summer. Some believe the downturn could be because customers are afraid of possible immigration raids targeting businesses that attract primarily immigrant customers. 'Ninety-nine percent of our customer base is Asian, from the Indian subcontinent, and [some] are not sure if they would even be able to live here,' said Krutika Pranav, the manager at Highglow Jewelers in Artesia. 'All of that adds to the fear, and we've seen a tremendous slowdown because of that. The tariffs will make it even worse.' Prashant 'Peter' Patel, the president of the Indian American Business Assn. and Chamber, which is based in Florida but has ties to small businesses across the country, said Indian business leaders have a general sense of anxiety. He remains hopeful that the two countries' leaders will reach a resolution soon. 'This is the time for diplomacy and pragmatism,' he said. 'Our goal is not to politicize this issue, but to represent the voice of those working hard every day to grow businesses that serve, employ and uplift communities.' Others were not as optimistic. 'It's like a chess game, to see who makes the first move,' said Keray, the owner of Pioneer Cash & Carry. 'It's just a matter of how far it goes before the consumer is the one that becomes a victim of all this.'
