#Oil

Indian refineries are sharply cutting purchases of Russian Urals oil due to the loss of price discounts and fierce competition with China, reverting to Persian Gulf supplies.

After the US signed the law on "hellish sanctions," Indian refineries have begun cutting purchases of Russian crude oil, aiming to reduce its share in imports to 20–30% to avoid possible duties of up to 100%.

Houthis claimed missile and drone strikes on Riyadh airport and an Aramco facility in Yanbu. Flames from fuel storage tanks were spotted over Saudi Arabia's capital; the coalition reported shooting down one missile.

The White House confirmed Trump's intention to sign a sanctions law against Russia, adopted by the House of Representatives by a vote of 262 to 159. The document allows the imposition of tariffs of up to 100% on countries buying Russian gas and oil and extends sanctions against Iran until 2031.

Trump stated that countries that did not help the US in the conflict with Iran must compensate for the costs after it is over. He emphasized the stability of the oil flow through the Strait of Hormuz and Washington's role in protecting it.

Trump suggested that the US could stay in Iran after the war and take control of its oil along the Venezuela model, citing a “good deal” and promising a sharp drop in gasoline prices.

Rosneft head Igor Sechin stated that China has saved 27 billion dollars on discounted purchases of Russian oil since 2022. The share of Russian crude in China reached a record 27%.

Indian Foreign Minister Jaishankar stated in Kyiv that purchases of Russian oil will not affect the end of the war and are driven by the needs of 1.4 billion citizens. Meanwhile, Indian refineries are actually reducing imports due to strikes on Russian infrastructure.

Venezuela and the US signed a 25-year oil agreement: over $100 billion in investment and up to $209 billion in taxes are expected. Rodriguez claims sovereignty is preserved, while Trump calls the deal the largest in history.

The US has declared an "economic offensive" against Iran, comparing it to Normandy, but China, which buys 90% of Iran's oil, and other Tehran partners are ignoring the sanctions. Analysts call the measures adopted too weak.

Washington is preparing an agreement for long-term access by American companies to 17 Venezuelan fields, while Caracas is considering leaving OPEC amid its rapprochement with the United States.

Lin Jian, the official spokesperson of the PRC Ministry of Foreign Affairs, rejected US demands to halt purchases of Iranian oil and declared readiness to apply the law on countering foreign sanctions.

Iraqi Prime Minister Ali al-Zaidi ironically declared that there will be no corruption “because there is no money,” against the backdrop of a $77 billion audit and record arrests in the “Green Zone.”

Iran's National Security Council Secretary Mohsen Rezaei stated on August 22 that if regional countries join US sanctions, Tehran will strike alternative Persian Gulf oil routes. The Strait of Hormuz, he said, will remain closed until Washington changes its position.

🚨 Iran issues ultimatum to US: Strait of Hormuz closed until 2029! 🛑 Tehran conveyed conditions for opening the strait via intermediaries: cessation of wars in Lebanon and Gaza + unfreezing of assets. Iran sees no point in a deal with Trump and is ready to wait until January 2029. 📉 Oil prices are rising, the world is on the brink of an energy crisis. #Iran #StraitOfHormuz #USA #Trump #Oil #Geopolitics

🛑 **Ukraine and the US have reached an agreement on the safety of oil tankers in the Black Sea.** 🛢️ Kyiv has pledged not to attack vessels carrying Kazakh oil and CPC facilities if they are not transporting Russian cargo. 📉 This decision aims to stabilize oil prices against the backdrop of the crisis in the Strait of Hormuz and ahead of the US elections. 🤝 Contact points have been created for information exchange between carriers and Ukraine. 🚫 Previously, attacks on vessels near Novorossiysk forced Kazakhstan to suspend supplies.