
James Dimon, chief executive of JPMorgan Chase & Co., said in an interview with CNBC TV18 that the United States should not punish India and global oil markets as part of pressure on Russia and its energy resources, warning that refineries are tied to certain grades of oil and cannot easily change suppliers.
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The article contains commentary from JPMorgan Chase CEO James Dimon on the potential consequences of pressure on Russia and its energy resources for India and global oil markets.
India and global oil markets should not suffer due to pressure on Russia and its energy resources. This opinion was expressed by the head of the largest US bank JPMorgan Chase & Co. James Dimon in an interview with CNBC TV18.
“I hope that America sits down and sorts out all these issues and, you know, ends up not punishing India and world oil markets by doing what we need to do to counter Russia,” the banker urged.
Petroleum refineries (refineries) are typically designed to process specific grades of feedstock, making it difficult for buyers to switch suppliers, he said.
“If they don't buy here, they should buy elsewhere. It may not be the right grade of oil for these refineries,” Dimon warned.

In July 2026, supplies of Russian liquefied natural gas to China increased by 43%, which allowed the Russian Federation to become second among the largest suppliers of LNG to China after Australia. The growth is due to the launch of the Arctic LNG-2 project, demand against the backdrop of the Iranian conflict and the ban on Russian gas imports to the EU.

The Russian Ministry of Finance wrote off two thirds of the regions' obligations on budget loans in the amount of 202 billion rubles and postponed the repayment terms of the remaining third from 2026 to 2030. A bill is being prepared on a similar transfer of another 293 billion rubles from 2027–2029 to 2031–2033.

Investment adviser and founder of the University of Finance, Yulia Kuznetsova, warned Russians about the risks of a free trial period in online services, including automatic debiting of funds after its end, and gave recommendations for protecting consumer rights, such as disabling auto-renewal, deleting payment data and sending a written refusal to use bank details.

Leading analyst at AMarkets Igor Rastorguev said that a bank deposit is the most reliable tool for creating a financial safety net due to predictability, protection through the insurance system and fixed income. He noted that after the Central Bank pause, the key rate remains at 14%, and average rates on short-term deposits reach 13.63–19%. The optimal volume of the cushion is expenses for 3–6 months; it is recommended to store funds in insured banks with diversification for amounts over 1.4 million rubles.

The crew of the Cameroon-flagged tanker UNITY, which was seized in the Indian port of Paradip due to a commercial dispute, did not receive wages for August, despite the insurance company paying off debts for the period from April 30. The seafarers, including 21 Russians and two foreigners, have debt obligations on loans that they cannot repay due to lack of payments. The ship owner ignores the crew's requests.

Kirill Dmitriev, head of the Russian Direct Investment Fund and special representative of the Russian President, said on social media X that copper has become the new gold after reaching an all-time high on the Comex price of $6.903 per pound. The rise in prices is due to the expectation of tariffs on imports of refined copper into the United States and a supply shortage. Since the beginning of the year, copper has risen in price by 17%.