HPCL, BPCL to IOC: Oil & gas stocks fall over 3% after Donald Trump’s tariffs threat to India on Russian oil imports
Published on 05/08/2025 10:43 AM
Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation (IOC), and other oil and gas stocks declined more than 3% on Tuesday after US President Donald Trump threatened India with high tariffs on buying Russian oil.
Trump said he would be “substantially raising” the tariff on Indian exports to the US over New Delhi’s purchases of Russian oil. He also accused India of profiting by reselling discounted Russian oil in global markets.
(To be updated)
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It'll just take a moment.