India eyes deeper oil ties with Brazil amid US tariff uncertainty: S&P
Amid the tariff uncertainty and rising trade concerns with the US, India is seen exploring opportunities to boost its oil trade with Brazil, as per S&P Global Commodity Insights. While Russian oil flows into the country continue, Indian refiners are continuing to diversify their sourcing – a move that could lead to Brazilian crude flows to India.
Both India and Brazil face 50% US tariff, the highest among major economies.
