JPMorgan Chase CEO Jamie Dimon argued that the US should not penalize India or global oil markets while seeking to pressure Russia to end the war in Ukraine. The diplomatic meetings in New York focused on the potential energy disruptions and geopolitical fallout that the new sanctions legislation may cause for India's fuel supply.
Wednesday, October 21, 2026
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India Russian Oil Imports Fall 16.5% on New US Sanctions
Geopolitics27 days ago
US Secretary of State Marco Rubio and India's Subrahmanyam Jaishankar met in New York to evaluate the impact of a sanctions bill against Russia signed by Donald Trump. India's imports of Russian crude fell 16.5% in August to about 2.1 million BPD and may decline to 1.9 million BPD in September. A new US law has increased the financial cost of purchasing energy from Russia, which remains a primary oil supplier for New Delhi.
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