Business
Russian Oil Imports: Defying Trump, Indian Companies Snap Up Purchases Despite US Tariff Threats
New Delhi: Even as the United States threatens higher tariffs, a few Indian companies have increased crude oil imports from Russia. The purchases come at a time when overall Russian oil imports into India have fallen because of international restrictions.
Government-owned Indian Oil Corporation (IOC) and Nayara Energy, which is linked with Rosneft, have raised their procurement from Russia this month. The Bharat Petroleum Corporation Limited (BPCL), one of India’s major state-owned oil and gas companies, has also continued buying, though in smaller volumes. Reliance Industries, the biggest Russian oil buyer last year, has not purchased any crude from Russia this month.
Data from analytics firm Kpler shows that in the first half of January, India imported an average of 1.18 million barrels per day from Russia. This is nearly 30 percent lower than the same period last year and below the 2025 monthly average. Compared with December 2025, imports are down by around three percent.
Which Companies Bought Russian Oil
US sanctions have reduced the number of Indian buyers for Russian crude. So far, only the IOC, the Nayara Energy and the BPCL have imported Russian crude this month. The IOC accounts for nearly half a million barrels per day, roughly 43 percent of total Russian crude arriving in India. This is its highest purchase since May 2024 and 64 percent above its 2025 monthly average.
Nayara Energy ranks second, buying about 471,000 barrels per day. That represents 40 percent of Russian crude arriving in India. This is its largest purchase in at least two years and 56 percent higher than its 2025 average.
The BPCL has bought approximately 200,000 barrels per day, slightly above its 2025 average of 185,000 barrels per day.
Companies Not Buying Russian Oil
Reliance Industries has not purchased Russian crude this month. Other companies that stayed out include the Hindustan Petroleum Corporation, the HPCL-Mittal Energy Ltd and the Mangalore Refinery & Petrochemicals Ltd.
Russian suppliers have increased discounts on crude because of falling demand from some Indian and Chinese buyers. Industry officials say that the discount on Russian Urals crude delivered to Indian ports has risen to about $5-6 per barrel. Before US sanctions on Rosneft and Lukoil in October, the discount was around $2 per barrel.
The IOC has increased its January purchases to take advantage of the cheaper prices.
Business
Starmer says ‘tide could be turning’ on shoplifting epidemic
Sir Keir Starmer claimed “the tide could be turning” against shoplifting as he set out the Government’s efforts to crack down on retail crime.
The Prime Minister said shop thefts were “slightly down” in the latest figures and he wanted wider use of technology which allows CCTV footage to be shared immediately with the police.
His comments came as a think tank highlighted figures showing 67% of shoplifting offenders go on to commit another offence within 12 months, up from 55% before the pandemic.
In an address to the Usdaw shopworkers’ union, Sir Keir said: “It’s disgraceful that people just working in their shop have to take abuse from customers.
“It’s disgraceful that people feel sick to the stomach thinking about how they’re going to get through the day and it’s disgraceful that people can have their lives and livelihoods ruined by persistent shop theft.”
He said the Government has put an extra 3,000 neighbourhood police officers on the streets and scrapped the “ridiculous” rule which left theft of goods worth less than £200 “not properly investigated” by police.
“That was a shoplifters’ charter, and we’ve ended it and not before time,” he said.
“We’ve toughened up punishment too. We’re giving police stronger powers, making the abuse and assault of retail workers a specific crime and giving you the same protections as emergency workers.”
Sir Keir said he was “not blind to how big this challenge is” but said the number of people charged had gone up 17% in the latest statistics and shop theft was down.
The latest Office for National Statistics (ONS) data showed shoplifting offences fell slightly last year, down from 516,611 in 2024 to 509,566 in 2025.
Sir Keir said: “It’s only slightly down, but the tide could be turning.”
The Prime Minister’s speech came as the Centre for Social Justice (CSJ) warned of a high street crime epidemic.
The centre-right think tank highlighted figures uncovered by former Tory leader Sir Iain Duncan Smith through parliamentary questions which showed the extent of repeat offending.
The think tank’s analysis showed the average number of offences committed by shoplifters has nearly doubled in five years, rising from 5.5 to 9.1 offences per convicted thief.
Sir Iain, the CSJ’s chairman, said: “Communities across Britain are suffering from a high street crime wave.
“Set against years of economic difficulties, there is a risk that some of our town and city centres are left permanently hollowed out.”
A standalone offence for assaulting a retail worker is set to be introduced in the Crime and Policing Bill going through Parliament.
But the two Houses of Parliament are currently in a tussle over the final draft of the Bill as the end of the parliamentary session nears.
Almost 80% of shop workers said they experienced verbal abuse, more than half said they were threatened by a customer and 10% said they were assaulted in the latest annual survey by retail trade union Usdaw.
The small drop in shoplifting in the ONS figures may reflect a change in how such offences are recorded.
Offences where someone has entered a retail premises, steals, then either uses or threatens violence against staff or other people should be classed as robbery of business, police forces were advised in April last year.
This may account for the steep increase in the number of such robberies recorded, which rose 78% to 26,158 in 2025.
Joanne Thomas, Usdaw general secretary, said the incoming legislation delivers “much-needed protection of retail workers’ law”.
She said: “While there has been a welcome small decrease in shoplifting across last year, the fact is retail crime continues to be a significant issue for the sector and particularly staff.
“Usdaw’s last survey found that this is in no way a victimless crime, with two-thirds of attacks on retail staff being triggered by theft or armed robbery.
“Having to deal with repeated and persistent offences can cause issues beyond the theft itself, like anxiety, fear and physical harm to retail workers.”
Shadow home secretary Chris Philp accused the Prime Minister of “brazen cheek”, saying Sir Keir was “part of the problem, not the solution”.
He said: “Shoplifting is up 8% under Labour, made worse by a drop in total police numbers of 1,300 in the last year alone.
“Starmer is abolishing prison sentences under a year, which means virtually no shoplifter will ever go to prison.
“The Conservative plan to take back our streets will see 10,000 extra police hotspot patrol high crime areas, combined with a tripling of stop and search and widespread use of live facial recognition to catch wanted criminals.
“Only the Conservatives have a plan to fix this.”
Business
Gold prices rise rebound in Pakistan after recent decline – SUCH TV
Gold prices in Pakistan have risen again at the start of the business week after several days of decline, according to the All Pakistan Bullion Market.
The price of gold per tola increased by Rs 800, reaching Rs 493,962.
Similarly, the price of 10 grams of gold rose by Rs 686 to Rs 423,492.
In the global market, gold also recorded an increase of $8 per ounce, reaching $4,716.
Experts say global economic uncertainty, currency fluctuations, and investor preference for safe-haven assets are driving the upward trend in gold prices.
They add that changes in international markets directly impact Pakistan’s local bullion rates, leading to continued fluctuations in domestic prices.
Business
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