India’s Russian oil imports set to rise in September in defiance of US
Summary
India is set to increase its imports of discounted Russian oil in September despite US punitive tariffs aimed at curbing the trade, maintaining its position as the largest buyer of Russian crude displaced by Western sanctions.
Key Points
- India plans to increase Russian oil imports by 10-20% in September despite US tariffs.
- The US raised tariffs to 50% on Indian imports to pressure India to stop buying Russian oil.
- India relies on diplomatic talks to resolve trade disputes while strengthening ties with Russia and other countries.
- The EU has tightened its price cap on Russian oil, complicating sales but India continues imports due to discounted prices.
