India Pushes Back on U.S. Tariff Threat Over Russian Oil
India said it will prioritize the energy needs of its population despite U.S. efforts to curb Russian oil and gas exports, warning that U.S. measures affecting its energy security could damage bilateral ties. The Foreign Ministry, cited by Reuters, said New Delhi is prepared to take necessary steps to protect its trade and economic interests after a U.S. bill proposing tariffs on importers of Russian energy passed Congress.
Why It Matters
The U.S. tariff proposal aims to reduce Russia's export revenue by penalizing countries that keep buying its energy, but India is a major purchaser of Russian crude and signals it will defend its access to supplies. How New Delhi responds could affect global energy flows and U.S.-India relations amid ongoing geopolitical tensions.
Key Facts
- India's stance: Will prioritize energy security and take measures to protect trade and economic interests
- Source of statement: India's Foreign Ministry, quoted by Reuters
- U.S. bill provision: Tariffs of as much as 100% on importers of Russian energy commodities
- Timing: Statement followed passage of the latest anti-Russian sanction bill (reported yesterday)
- India's share of Russian crude (August): Over 50% of India's total crude import volumes
India has pushed back against U.S. efforts to squeeze Russian oil and gas exports, saying it will continue to prioritize the energy security of its population and may take steps to protect its trade and economic interests. The Foreign Ministry's warning, reported by Reuters, came after the U.S. Congress approved a sanction bill that includes tariffs of up to 100% on importers of Russian energy commodities. The U.S. measure is intended to reduce Russia's export revenues and pressure it to end the war in Ukraine. New Delhi said any U.S. action that affects its energy security could strain bilateral relations, underlining the potential diplomatic fallout from policies aimed at isolating Russia economically. India is already one of Russia's largest oil customers. In August, crude imported from Russia accounted for more than half of India's total crude imports. Russia exported roughly 2.47 million barrels per day to India in that month, a 62.4% increase year-on-year, and that volume represented about 50.83% of India's total oil imports. New Delhi expanded purchases of Russian crude after Western sanctions created deep discounts; more recently, disruptions in Middle East supply have pushed some Russian grades to trade at premiums, and India has continued buying amid limited cheaper alternatives. The statement noted India's historically close diplomatic ties with Russia while also acknowledging its strategic relationship with the United States in Asia.
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