Now Reading: India may continue Russian oil purchases despite possible US tariffs
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India may continue Russian oil purchases despite possible US tariffs
India may continue Russian oil purchases despite possible US tariffs
A proposed US sanctions bill could allow President Donald Trump to impose tariffs of up to 100% on countries buying large quantities of Russian oil and gas. India previously continued purchasing Russian…
The Story in Brief
A proposed US sanctions bill could allow President Donald Trump to impose tariffs of up to 100% on countries buying large quantities of Russian oil and gas. India previously continued purchasing Russian crude despite higher US tariffs, though sanctions reduced supplies from some Russian firms. The bill would also permit exemptions and secondary sanctions on shipping companies, insurers and vessels linked to Russia’s shadow fleet.
Russian crude has formed more than 30% of India’s imports for over three years and reportedly reached about 55% in July. Experts cited by The Times of India said India is unlikely to stop purchases suddenly because Russian oil supports energy security and refining economics. Any reduction would probably be gradual, unless sanctions disrupt shipping, insurance or payments.
The Indian Opinion
For Indian consumers, the key issue is whether possible US action raises fuel and import costs. The source presents continued Russian purchases as economically practical, but the final impact remains uncertain because the bill may change and exemptions are possible. Claims that India will either immediately abandon Russian oil or ignore all pressure would be premature. Shipping, insurance and payment restrictions may matter as much as tariffs.
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
Updated: this story now draws on 1 sources.
