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Original headline: Indian refiner fuel exports to the West jump 43 % as they keep processing Russian crude
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- Customers Want Tank Manufacturing Moved Out of Russia
The Russian tank industry has entered a new phase, with customers increasingly demanding production technology rather than finished vehicles, according to Uralvagonzavod (UVZ) CEO Alexander Potapov. UVZ is willing to support this trend despite concerns that customers could eventually become competitors, especially India's localization demands under 'Make in India' and similar interest from Arab buyers. Because traditional markets have shrunk considerably, UVZ is turning to Africa and Southeast Asia, while continuing negotiations and improving after-sales service. UVZ tanks have been exported to dozens of countries, with India being the most prominent customer, operating about 1,000 T-72M1 and T-90S tanks.
- Indian refiner fuel exports to the West jump 43 % as they keep processing Russian crude
Refineries in India, Turkiye and Brunei that process Russian crude shipped 1 billion euros ($1.2 billion) of oil products to sanctioning countries in September, up 43 per cent from August, according to CREA. Reliance's Jamnagar refinery supplied six of the seven cargoes unloaded at EU ports that month despite the EU ban on fuel refined from Russian crude, though the ban's exemption for net crude exporters leaves a gap, CREA says. CREA estimated 295 million euros of the exports came from Russian crude and urged refinery-level restrictions, a recommendation from an advocacy group rather than policy. India's Russian crude imports fell 13 per cent in September, their second straight monthly decline, while Kpler analysts expect October imports to hold at 1.8–1.9 million barrels per day.
- European stocks slip led by France , and oil falls on Trump Russian sanctions waiver
Stock markets were mixed on Monday, with tech volatility persisting in Asia and France leading losses in Europe after mass protests over the cost of living. France's CAC 40 fell 1.3% to 7,854.31 after violent weekend protests, while Britain's FTSE 100 dropped 0.8% and Germany's DAX fell 1%. In Asia, South Korea's Kospi rose 1.8% to 5,768.01 but remains more than 17% below its June peak, while Japan's Nikkei 225 lost 0.6%. Oil fell about 2% after U.S. President Donald Trump moved to put broad sanctions on Russia, including on its energy sector, on hold, a step likely to lead to more Russian energy exports; Brent dropped 2.1% to $107.55 a barrel. The 10-year U.S. Treasury yield eased to around 5.08% from 5.13% on Friday, after hitting 5.35% earlier this month, its highest since 2002.
- Asian shares are mixed with tech stocks volatile , and oil falls on Trump Russian sanctions waiver
- Asian shares are mixed with tech stocks volatile , and oil falls on Trump Russian sanctions waiver
Asian shares were mixed on Monday as volatility in technology stocks persisted, while U.S. futures edged higher ahead of a week of corporate earnings. Oil fell more than 1% after President Donald Trump waived sweeping sanctions on Russia, including on its energy sector, a move likely to boost Russian energy exports. South Korea’s Kospi rose 1.1% to 5,729.58, but it is still down more than 18% over the past month and well below the 9,000 level it crossed in June. Japan’s Nikkei 225 lost 0.8%, while China’s Shanghai Composite gained 0.2% to 3,722.20 after the economy grew 4.5% in the July-September quarter, and Indonesia’s index fell another 5% to its lowest since 2020 after an MSCI warning about a possible downgrade from “emerging market” status. Brent crude fell 1.8% to $107.86 a barrel and U.S. crude dropped 1.6% to $97.43, though prices remain elevated compared with before the Iran war, with supply risks in the Strait of Hormuz still high.
- Asian shares are mixed with tech stocks volatile , and oil falls on Trump Russian sanctions waiver
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