Oil Tug-of-War: US vs EU on Russian Crude
Update: 2025-09-10
Description
US and EU clash over Russian oil! As the US pressures India to cut off Russian oil, even threatening tariffs, the EU prefers price caps to avoid market chaos. India, demanding bigger discounts due to increased scrutiny, may reduce Russian crude imports in October as Russia redirects supply to China. With most Russian oil sales exceeding the EU's price cap, shadow fleets are emerging, undermining Western sanctions and creating market confusion. Will Russian oil continue to flow despite Western efforts?
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