NEW DELHI (AP) — India has shown it will continue to buy oil from Russia despite threats from US President Donald Trump.
India’s Foreign Ministry said its relations with Russia are “a stable time test” and should not be seen through the prism of a third country.
Speaking to the weekly presser on Friday, spokesman Randhir Jaiswal said India’s broader stance on securing energy needs was guided by the availability of oil in the market and the global situation in general.
Here’s the comments announcement President Donald Trump has said that New Delhi intends to impose additional import taxes along with a 25% tariff on goods from India as well as additional import taxes as it purchased Russian oil.
This threat emerged as the US president has become increasingly worse in Russia because he did not agree to a ceasefire in Ukraine, threatening new economic sanctions if there were no progress.
India purchased 68,000 barrels of crude oil per day from Russia in January 2022, but by June of the same year, oil imports had risen to 112 million barrels per day. Daily imports peaked at 2.15 million in May 2023, and have been varied since then.
Nearly 40% of Indian imports reached almost 40% of Indian imports, and Moscow is the largest supplier of New Delhi crude oil, Indian news outlets reported, citing data from data analytics company Kpler.
India’s daily oil consumption is around 5.5 million barrels, of which nearly 88% is met through imports.
The country has historically purchased most of its crude oil from the Middle East, which has changed since the full-scale invasion of Russia’s Ukraine in February 2022.
India, the world’s third largest crude oil importer after China and the US, has begun buying Russian oil at a discounted rate after the west avoided punishing Moscow.
