Russia Vows to Keep Selling Oil to India Despite U.S. Tariff Threat
Russia will remain a key crude oil supplier to India, Russia’s Ambassador to India, Denis Alipov, said in an interview with Asian News International, in which he also criticized the planned U.S. legislation to slap tariffs on countries importing Russian oil. Russia has become India’s single-biggest oil supplier in recent years, after the U.S., the UK, and the EU banned Russian oil imports and…
Russia intends to maintain oil sales to India despite potential U.S. tariff threats, as stated by Russia's Ambassador to India, Denis Alipov. Alipov expressed his disapproval of the proposed U.S. legislation that would impose tariffs on countries importing Russian oil, following sanctions imposed in response to Russia's invasion of Ukraine.
India currently relies heavily on Russia as its primary oil supplier, surpassing the U.S., UK, and EU, who have all banned Russian oil imports. The U.S. Congress attempted to pass a bill from Graham, granting President Trump authority to impose 100% tariffs on Russia's biggest oil buyers, but the bill has been stalled in the House.
Analysts believe the bill is unlikely to pass before the November mid-term elections. Alipov emphasized Russia's willingness to supply the amount of oil India requires and criticized the sanctioning and tariff-imposing countries for their pressure tactics instead of cooperation. India's crude oil imports from Russia slightly decreased in August compared to July's record high, due to reduced supply from Ukraine's attacks on Russian export infrastructure and increased competition from China for Russian oil.
Russia's ambassador expressed confidence that Indian demand for Russian oil will remain strong, as both nations have a vested interest in maintaining this trade relationship.
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