India to Continue Buying Russian Oil Despite US Concerns
India Defies Trump’s Tariffs, Vows to Continue Russian Oil Purchases
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New Delhi Stands Firm on Energy Security Amidst US Pressure
NEW DELHI — India has signaled its unwavering commitment to continuing its oil purchases from Russia, brushing aside threats of tariffs from U.S. President Donald Trump. The south Asian nation emphasized that its long-standing relationship with Russia is robust and should not be dictated by external pressures from a third country.
A “Steady and Time-Tested” Relationship
During a weekly press briefing on Friday, Indian foreign ministry spokesman Randhir Jaiswal articulated India’s stance, stating that the country’s approach to securing its energy needs is primarily driven by market availability and prevailing global circumstances. This declaration comes in the wake of President trump’s announcement of his intention to impose a 25% tariff on goods from India, coupled with an additional import tax, specifically citing new Delhi’s procurement of Russian oil.
The U.S.president’s threat is linked to his increasingly critical view of Russia’s role in the ukraine conflict, particularly its failure to agree to a ceasefire. Trump has previously warned of new economic sanctions against Russia if progress on the issue is not made.
Shifting Energy Landscape: India’s Growing Reliance on Russian Oil
India’s oil imports from Russia have seen a dramatic surge sence the full-scale invasion of Ukraine in February 2022. While India purchased 68,000 barrels per day of crude oil from Russia in January 2022, this figure escalated to 1.12 million barrels per day by June of the same year. The daily imports reached a peak of 2.15 million barrels in May 2023 and have fluctuated since.
At one point, supplies from Russia constituted nearly 40% of India’s total oil imports, making Moscow the largest supplier of crude to new Delhi, according to data from analytics firm Kpler, as reported by the Press Trust of India.
India’s Energy Needs: A Global Viewpoint
India, the world’s third-largest crude importer after China and the United States, has a daily oil consumption pegged at around 5.5 million barrels. A important portion, nearly 88%, of this demand is met through imports. historically, India has relied heavily on the Middle East for its crude oil supply.Though, the geopolitical shifts following Russia’s invasion of Ukraine have led India to capitalize on discounted Russian oil, which Western nations had largely shunned as a measure to penalize Moscow. This strategic pivot underscores India’s pragmatic approach to energy security in a dynamic global environment.