Russia-India Oil Deal: Despite the US 50% tariffs and pressure, Russia announced to give 5% discount to India on Crude Oil. Learn how Energy Cooperation is connecting both countries.
Russia-India Oil Deal: Despite America’s pressure and heavy sanctions, Russia has made it clear that it will continue to supply Crude Oil to India. Russia’s Deputy Trade Representative to India andgeny Griva said that Indian companies will get about 5% discount on Russian crude oil. Griva said that it is a commercial secret but usually a Plus-Min is 5% discount in interaction. Despite the current political conditions, India will continue to get oil imports at almost equal level.
Russia’s Deputy Chief of Mission Roman Babushkin, who was present with Evageni Griva, said that this is a challenging situation for India but we trust our relationships. Energy cooperation will continue despite any external pressure.
America’s allegations and Tarifs impact
White House Trade Advisor Peter Navaro had alleged that India has become the global clearinghouse of Russia where Embarged Crude helps Russia in dollar by converting Embarged Crude into high-value expenses. For this reason, the US imposed 50% tariffs on India, which can shock the textile, leather, marine export sector.
India lodged a strong protest, describing the move as an unfersed, unjusted, unreserved. PM Modi also made it clear that India will not bow down to any Economic Pressure.
American pressure purpose Secondary Pressure on Russia
US Press Secretary Caroline Levit said that President Donald Trump put tariffs on India so that Secondary Pressure could be made on Russia and forced to eliminate Ukraine Conflict. He said that the President has put tremendous public pressure to end this war. The ban on India is also part of this effort.
India-China became top oil importer
Russia’s largest buyers have become India and China since the Ukraine War started. While the US has been continuously threatening secondary sanctions. Earlier, after imposing 25 percent tariff on India, he announced an additional ban of 25 percent for purchasing oil for the second time.