India pushes back as US targets buyers of Russian oil

India has reaffirmed its commitment to diversifying its oil suppliers following the passage of U.S. sanctions aimed at pressuring Russia over its involvement in Ukraine. The legislation, signed by President Donald Trump, targets Russia's energy and defense sectors, as well as its so-called shadow fleet of tankers, and gives the president the authority to impose tariffs of up to 100 percent on major oil and gas buyers, including potential targets like China and India.

India's foreign ministry emphasized that it remains "firmly committed to ensuring energy security for its 1.4 billion people" and will continue sourcing oil from diversified suppliers based on evolving market dynamics. The country has been navigating the energy crisis sparked by the U.S.-Iran conflict by turning to Russia, despite Moscow's ongoing war in Ukraine and international pressure from Washington and other Western nations.

India's foreign ministry stated that the Indian side has made clear its determination to protect its trade and economic interests in response to the U.S. sanctions. High-level discussions between India and the U.S. on the issue have been ongoing, with Indian officials clearly articulating the potential implications for the bilateral relationship and the international energy market.

Despite the drop in Russian crude imports from a record 2.81 million barrels per day in July to 2.07 million in August, India continues to rely on Moscow as a key strategic partner and military supplier.