The Ministry of External Affairs of the country said the imports are necessary to keep energy prices affordable, unlike the Western powers, whose trade with Russia is not even a “vital national compulsion.”
India said it has been “targeted” by the European Union and the U.S. for buying Russian oil, despite the two countries continuing to trade with Moscow.
The Ministry of External Affairs of the country said the “imports are meant to ensure predictable and affordable energy costs to the Indian consumer,” unlike the Western powers.
“However, it is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion,” it said.
“India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy markets stability,” the statement read.
India’s response comes after U.S. President Donald Trump threatened to impose “substantially” higher tariffs on the country, accusing New Delhi of profiting from Russian oil sales while ignoring the ongoing war in Ukraine. In a post on Truth Social, Trump claimed India is purchasing large volumes of Russian oil and reselling it on the open market “for big profits.”
In 2024, the European Union’s bilateral trade with Russia totaled 67.5 billion euros ($78 billion), with LNG exports remaining strong. Meanwhile, India’s trade with Moscow reached $68.7 billion during the financial year ended March 31, 2025. India said the EU’s trade with Russia was “significantly higher” than its own.
India also pointed out that the U.S. continues to import nuclear fuel, palladium for electric vehicles, and fertilizers from Russia.
The potential tariffs on India have raised supply concerns and bolstered oil prices. Retail sentiment about the United States Oil Fund (USO) was in the ‘bearish’ territory at the time of writing.
Trump has so far imposed a 25% tariff on all goods originating from India, which will take effect on Thursday. He had threatened India with additional penalties for its ties with Russia for both energy and military equipment.
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