Kremlin says India free to buy oil from any source despite US tariffs
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The Kremlin on Monday said India is free to buy oil from any source it finds economically beneficial.
This comes despite the United States imposing steep tariffs on Indian imports linked to its continued purchase of Russian crude.
The statement followed President Vladimir Putin’s recent meeting with Prime Minister Narendra Modi in New Delhi. Both leaders reaffirmed their commitment to cooperation in the energy sector.
The US imposed an extra 25 per cent tariff on India on August 6 for buying Russian oil. At the end of the same month, the tariff on Indian imports was raised again to 50 per cent. The move is widely seen as an effort to pressure India to reduce its dependence on Russian crude, which increased after the Ukraine war began in 2022.
Kremlin spokesperson Dmitry Peskov said India, as a sovereign nation, conducts trade based on its own interests. He said India will buy energy from wherever it finds it advantageous. He added that Moscow is confident India will continue to protect its economic priorities. Peskov also recalled Putin’s assurance to PM Modi that Russia will remain a reliable energy supplier.
After the Ukraine conflict, India became one of the largest buyers of Russian oil, benefiting from discounted prices.
However, reports say India has started reducing the share of Russian crude in its overall imports under Western pressure.
Russian officials have said they are ready to support India’s energy needs despite sanctions. Kremlin economic aide Maxim Oreshkin said on Channel 1 that Russia has long experience dealing with sanctions and will find ways to supply crude if India wants it.