Indian refiners’ purchase of Russian oil has not been affected by Donald Trump’s additional tariffs announced earlier this month, officials in the Indian government have stated, as per a report in the Indian Express.
The purchasing of Russian oil by Indian refiners is guided by pure economic and commercial considerations and there is no change in the import strategy so far, the report adds.
There has been a slowdown in the oil imports from Russia in recent weeks, but the changes are dynamic due to the pricing issues, and narrowing of discount aspect, and US tarriffs and threats are not a reason behind it, the officials stated.
Russia, as of now, is the largest supplier of India’s crude oil purchases.
India has denounced Trump’s tariff as ‘unjustified and unreasonable’. Trump has been stating that the tariffs are a punishment for India’s continued purchasing of Russian oil. India has been firm in its position that it is not for a foreign nation to decide where India buys its crude oil from.
