With US tariffs now at 50% despite India's slowdown in Russian crude buying, state refiners are still pausing purchases but eying discounted Urals.

Washington’s move to double tariffs on many Indian goods poses a huge risk to India’s biggest export market.

The punitive 50% tariffs levied on imports from India by President Donald Trump due to the continued purchase of Russian oil went into effect Wednesday.

With US tariffs now at 50% despite India's slowdown in Russian crude buying, state refiners are still pausing purchases but eying discounted Urals.