US EditionIndia will continue buying Russian oil despite Trump tariff threats: Report
INDIA, AUG 2 – India maintains its Russian oil imports despite US tariffs and penalties, with Russia supplying about 35% of India's oil, supporting stable global energy markets, officials said.
- U.S. President Donald Trump said on Friday he understood India is no longer buying oil from Russia but was unsure if that was accurate.
- This claim followed growing U.S. pressure including threats of 100% tariffs on countries buying Russian oil unless peace is reached in Ukraine.
- Indian officials denied any policy change and confirmed the country continues purchasing about 1.75 million barrels per day, with Russia supplying 35% of India's oil.
- The U.S. has implemented a 25% tariff on imports from India and supported the EU's decision to lower the price ceiling for Russian crude oil to $47.60 per barrel, effective starting in September.
- Despite threats of tariffs and sanctions, India continues its energy trade with Russia based on its strategic priorities and prevailing market conditions.
140 Articles
140 Articles
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