India indicates that it will continue to buy Russian oil despite Trump’s threats

New Delhi – India has indicated that it will continue to buy oil from Russia despite the threats of US President Donald Trump.

The Indian Foreign Ministry said its relationship with Russia is “fixed and tested time”, and it should not be seen through the perspective of a third country.

In his speech to a weekly fight on Friday, Rander Jaiswal’s spokesman said that India’s broader position on securing his energy needs was guided by the availability of oil in the prevailing global markets and conditions.

Comments track advertisement By President Donald Trump, he intends to impose a 25 % tariff on goods from India as well as an additional import tax due to New Delhi’s purchases for Russian oil.

The threat came because the American president has increased to Russia for his failure to agree to the ceasefire in Ukraine and threatened new economic sanctions if progress has not been made.

India bought 68,000 barrels per day of crude oil from Russia in January 2022, but by June of the same year, oil imports rose to 1.12 million barrels per day. Daily imports reached their peak at 2.15 million in May 2023 and have varied since then.

The supplies have increased to nearly 40 % of India’s imports at some point, making Moscow the largest supplier of crude to New Delhi, according to the Press Trust of India, cited KPLER data, a data analysis company.

Daily oil consumption in India is linked to about 5.5 million barrels, including approximately 88 % through imports.

The country has historically bought most of the crude from the Middle East, but this has changed since Russia has been widely invaded to Ukraine in February 2022.

India, the third largest crude importer in the world after China and the United States, has begun to buy Russian oil available at reduced prices after the West avoided to punish Moscow.