Finance Minister Nirmala Sitharaman has said India will continue buying Russian oil, defying US President Donald Trump’s persistent threats to halt the purchases. In an exclusive interview with Network18, Sitharama said that India will “undoubtedly be buying Russian oil”.
“Whether its Russian oil or anything else, it is our decision to buy from the place that suits our needs, whether in terms of rates or logistics. Where we buy our oil from, especially a big-ticket foreign exchange item where we pay so much, highest in terms of import, we will have to take a call on what suits us best. We will undoubtedly be buying,” the minister said in the interview with Network18 Group Editor-in-Chief Rahul Joshi.
Reacting to remarks such as White House trade advisor Peter Navarro’s various anti India comments, like calling India a laundromat for the Kremlin, claiming that Brahmins are profiteering at the expense of the Indian people or calling Ukraine-Russia war “Modi’s war”, Sitharaman said, “It is one thing for foreign government to say something like that. The global diplomatic world is astonished and it will respond or deal with it.”
The comments came amid Trump’s threat to impose even more tariffs on India for buying Russian oil. Apart from 25% tariff for India’s alleged high tariff, the US president has imposed additional 25% tariff for refusing to stop buying Russian oil.
On Wednesday, the US President threatened even more tariffs on Indian export to the US over continued purchase of Russian oil. Trump hinted at “phase-2 and phase-3” of what he called “sanctions” on India. He further claimed that imposing additional 25% tariffs on India cost Russia “billions of dollars.”
