Kremlin Supports India's Oil Purchases Amid US Tariffs: What’s Next for Energy Trade?

Kremlin's Stance on India's Oil Imports

Moscow: The Kremlin affirmed on Monday that India, as an independent nation, has the right to procure oil from sources it deems advantageous, expressing confidence that New Delhi will prioritize its economic interests.

Following the imposition of an additional 25% tariff by the US on August 6 for India's oil purchases from Russia, tariffs on Indian imports surged to 50% by the end of the month.

Dmitry Peskov, the Kremlin spokesperson, emphasized that India conducts its foreign trade and energy purchases based on its own benefits, following discussions between President Vladimir Putin and Prime Minister Narendra Modi in New Delhi last Friday.

Putin reassured Modi that Russia will continue to be a dependable energy supplier for India.

Peskov, when questioned about India's ongoing fuel purchases from Russia, stated, "We believe our Indian partners will maintain this approach to safeguard their economic interests."

Since the onset of the Ukrainian conflict in 2022, India has emerged as one of the largest purchasers of Russian oil.

Reports indicate that India is reducing its intake of Russian crude oil due to pressure from Western nations.

Maxim Oreshkin, an economic aide to the Kremlin, mentioned that Moscow has extensive experience in circumventing sanctions and is prepared to find ways to supply crude oil if India is willing.