US Tariff Threat Over India's Russian Oil Purchases

The US President, has threatened to significantly increase tariffs on goods imported from India due to New Delhi's purchase of substantial quantities of Russian crude oil. This is followed by the recent announcement of a 25% import tariff on Indian goods and potential penalties for Russian energy purchases.

India's Oil Trade with Russia

• India imports a third of its crude oil from Russia, making Russia its largest crude supplier.
• It is the second-largest purchaser of Russian oil, after China.

Criticism and Clarifications

• India does not export crude oil but refined petroleum products like diesel and jet fuel.
• China, not India, is the biggest buyer of Russian oil.
• India's oil trade with Russia is transparent, aimed at stabilizing global oil markets disrupted by Western sanctions.

Global Response and Justifications

• The US has accused India of financing Russia’s war in Ukraine by purchasing Russian crude.
• India defends its oil purchases as efforts to secure the best deals amid rising energy prices and to maintain stable global oil prices.
• The Indian government continued oil imports from Russia due to long-term contracts and the complexity of altering them overnight.
• It highlighted India's strategic partnership with Russia and the necessity of affordable energy sourcing.

This context illustrates the perceived unfair targeting of India, which continues to prioritize national interests and economic security.