India presses ahead with Russian oil imports despite US tariff escalation
India is preparing to lift Russian crude purchases by as much as a fifth in September, ignoring Washington’s tariff offensive that has pushed duties on Indian goods to 50 per cent.
The decision underscores New Delhi’s determination to secure affordable fuel supplies even as its largest trading partner ratchets up pressure. The White House last week doubled tariffs from 25 to 50 per cent, with trade adviser Peter Navarro accusing India of “financing Putin’s war machine” through discounted oil deals.
Indian refiners show little sign of retreat. State-owned Indian Oil Corporation and Bharat Petroleum have booked additional September cargoes after briefly halting in July, according to industry executives. Private refiners Reliance Industries and Nayara Energy, which together account for ...