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Finance Minister Nirmala Sitarman made it clear that India would undoubtedly buy Russian oil, ‘between trade tensions and 50 percent tariff on Indian imports in the US.
“Whether it is Russian oil or anything else, we will take a call on the basis that the rates, logistics or whatever we buy our oil, as it is a large-ticket forex-related item, especially it is a call, a call we will take on the basis of the fact that we will undoubtedly buy Rasian oil.” AyraNews24x7.
Finance Minister’s comments come in view of repeated criticism of India’s energy relations with Russia, a colleague of Trump. Allegations that Indian refiners buy cheap Russian crude, process it, and then sell it abroad on a premium, Peter Navaro said that “India is nothing but a laundromat for the Kremlin”.
Not only Trump’s associate, but Potus himself carried forward his criticism of India-Russia relations with his latest posts on Truth Social.
What Donald Trump said
On Friday, Donald Trump wrote a true social post that claimed that the US has “lost” to India and Russia “deepest, deepest China”.
He also shared a picture of Prime Minister Narendra Modi, Russian President Vladimir Putin and Chinese President Xi Jinping at the Shanghai Cooperation Organization (SCO) summit at Tianjin.
India-Russia Oil Relations
Reuters of the news agency reported last week, saying that India saved more than $ 17 billion in early 2022 to increase the import of concessional oil from Russia. Other experts and reports reduce savings from $ 13 billion to $ 26 billion.
Russian crude is now about 40% of India’s total oil purchase-almost nothing before the War. According to Anaysts, any immediate stoppage will not only indicate captivation under pressure, but will also be financially ineffective, report report Reuters.
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