New Delhi (AP) – India has indicated that it will continue to buy oil from Russia despite threats by US President Donald Trump.
The Indian Ministry of External Affairs said that its relationship with Russia was “stable and time-tested”, and it should not be seen through the prism of the third country.
Addressing a weekly presser on Friday, spokesperson Randhir Jaywal said that India’s widespread stance on achieving his energy needs was prevalent in the availability of oil in the markets and global conditions.
Comments follow one Announcement President Donald Trump that he intends to impose 25% tariffs on goods from India and import an additional tax due to the purchase of Russian oil in New Delhi.
This danger came when the US President has become rapidly sour over Russia to fail to agree to a ceasefire in Ukraine and threatened new economic sanctions if progress has not been made.
India bought 68,000 barrels per day for crude oil from Russia in January 2022, but by June the same year oil imports increased to 1.12 million barrels per day. Daily imports reached 2.15 million in May 2023 and have been diverse since.
Citing a data of a data analytics company KPLER, the supply at one point came about 40% of India’s imports at one point, which makes Moscow the largest supplier of crude to New Delhi, cited the data of a data analytics company KPLER.
India’s daily oil consumption is around 5.5 million barrels, of which about 88% are found through imports.
The country has historically bought most of its crude from the Middle East, but it has changed since the full -scale invasion of Russia in February 2022.
After India, China and the United States, the world’s third largest crude importer started buying Russian oil available at concessional rates after the West removed Moscow to punish it.
The Associated Press
