Will not bow to US threat, India to continue buying Russian oil

NEW DELHI: India will not bow to the US threat of imposing additional tariffs on countries buying Russian oil. The Ministry of External Affairs said India would continue to purchase crude oil from Russia.

The ministry said India would continue to buy oil from different countries based on market conditions to ensure the country’s energy security. It also warned that the proposed tariff measures could affect India-US relations.

India buys oil and gas from Russia and other countries to meet the fuel requirements of its 1.4 billion people. The ministry said India would continue to expand the number of countries from which it sources fuel, depending on changes in the global market.

The US House of Representatives has passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which would give President Donald Trump the authority to impose additional tariffs of up to 100% on countries buying Russian energy. The bill has already cleared the Senate and is awaiting Trump’s signature.

Impact on global market

The ministry said it had informed US officials about the possible impact of the new legislation on India-US relations and the global energy market. It also said India had held high-level discussions with US officials in recent months. The government said it would take necessary steps to protect the country’s trade and economic interests.

Russian oil helps control import costs

1. India is the world’s third-largest oil importer.
2. Russia is one of India’s major oil suppliers.
3. Russian crude is available at significant discounts, helping India control its import costs.
4. A reduction in Russian oil purchases could affect the profitability of Indian refineries.