US President Donald Trump threatened to put a secondi tariff of 25 per cent to 50 per cent on Russian crude oil buyers. This statement has come on a problem when he himself has talked about the ceasefire with the two countries. Even after that, Russia has not implemented the agreement, whose terms were fixed by Donald Trump himself. After which he has said in an interview to a news channel that he is very angry. If he did not stop the disgrace in Ukraine himself, he will further increase the ban on Russian oil. Also, there will be a tariff of 25 to 50 percent on those countries who are buying Russia oil.
Trump's statement is very important in terms of India. Because India is buying more than 30 percent oil of its total crude oil import from Russia. If there is a tariff on Russian oil, then India will have to face big tariffs. Apart from this, if the supply of dandruff in the international market is low, then the supply of crude oil will be reduced and crude oil prices can also cross $ 100 once again. The US has already announced a tariff on Venezuela oil. There are already restrictions on Iranian oil.
The Gulf is already reducing supply towards countries. At the same time, in addition to the US oil reserve, production is low. Crude oil prices will appear. If this series goes on for a long time, then petrol prices in India can also reach 125 rupees, which are currently crossing 100 rupees in many areas of the country. Let us also tell you what is the meaning of this threat of Trump and how much can the prices of petrol and diesel reach in India.
US President Donald Trump said in an interview to NBC News that he is "angry" from Putin. If they feel that Moscow is stopping efforts to bring peace to Ukraine, they will put up to 50 per cent tariffs on Russian crude oil buyers. Trump said that if Russia and I am unable to compromise to prevent bloodshed in Ukraine, and if I think it is Russia's fault… then I am going to put a secondary tariff on all oil coming from Russia.
The special thing is that this response of Trump is quite opposite to his relationship with Putin, which the whole world has felt in the last few years. The biggest question is correct whether Trump's threat should be taken serially? Is it likely to succeed? According to experts, so far, all the decisions that Trump has taken about the tariff, he has signed mostly. In such a situation, this threat should not be ignored at all.
First, talks about the impact on the prices of crude oil in the international market. If Donald Trump threatens to impose tariffs on crude oil importers to prevent the supply of Russian oil, then the prices of crude oil in the international market will increase. Currently, Brent crude oil prices in the international market have crossed $ 73 per barrel. According to experts, Trump signs his threat that crude oil prices will once again reach the sky. According to the American agency IEA data, Russia is producing crude oil in the year 2023 per day in 2023, which is 11 percent of the total production. If this 11 percent oil does not fall in the market, then crude oil prices will cross $ 100 per barrel. By the way, the prices of American crude oil will also be seen. Which is currently close to $ 70 per barrel.
According to the Reuters report, the situation in India is quite uncomfortable with this threat of Trump, as India's Prime Minister Narendra Modi has so far taken a stand to try to please Trump, which includes a proposal to abolish import duty on US LNG to promote purchase. But India has been a great beneficiary of Russian crude oil. That too at a time when many types of restrictions were imposed by the US and EU and crude oil prices in the world reached the sky. Then India bought crude oil at Russia cheap prices and that series continues. The special thing is that Russia is now the largest supplier of crude oil in India.
According to data from LSEG Oil Research, India is expected to import 1.52 million barrels per day (BPD) in March, which is about 30 per cent of India's total supply. India is already not buying crude oil from Iran due to US sanctions, so it will take some time to find other options instead of Russian oil, even if it is found, then the import cost of the country will increase so that it will get much more expensive oil than Russia.
On the condition of anonymity, the commodity expert said that at present, crude oil prices are at an average of $ 70 per barrel. Even after that, there has been no change in the prices of petrol and diesel for the last one year. This change will not be seen until the prices of crude oil in the international market crosses $ 100 per barrel. Commodity experts of India say that there has been a threat to Trump. If Russia does not stop the bloodshed soon, then he can also announce the tariff. The effect of which will be seen on India. But America also will not allow crude oil prices to reach $ 100 per barrel again. It also has a disadvantage in this. At present, America is facing the biggest inflation. But if $ 100 per barrel reaches the price, then the prices of petrol in the country will cross Rs 125, which has never happened till date.
On the other hand, there has been no change in the prices of petrol and diesel in the four metros of India. According to the data, the prices of petrol and diesel in the country's capital Delhi are Rs 105.01 per liter and Rs 91.82 per liter respectively. At the same time, petrol is seen in Kolkata Rs 105.01 and diesel is getting Rs 91.82 per liter. In Mumbai, the rate of petrol is being seen at Rs 103.50 per liter and diesel rate of Rs 90.03 per liter. Petrol price in Chennai will be Rs 100.80 and diesel will be priced at Rs 92.39 per liter.
