India to Continue Buying Russian Oil Despite U.S. Tariffs
India will continue buying Russian oil as it remains economical, Finance Minister Nirmala Sitharaman said on Friday, despite the Trump administration imposing heavy import tariffs on Indian goods over its energy purchases from Moscow.
Following Moscow’s 2022 invasion of Ukraine, Europe and the U.S. have shunned Russian oil, while India has become the largest buyer of Russian seaborne crude, taking advantage of discounted rates. New Delhi maintains that its purchases have helped keep global markets stable.
U.S. President Donald Trump recently imposed a 50% tariff on Indian imports, claiming that India’s oil purchases were indirectly funding Russia’s war effort. However, speaking to CNN-News18, Sitharaman emphasized that India would continue to prioritize its energy needs.
“We will have to take a call which source suits us best. So we will undoubtedly be buying it,” she said, noting that crude oil and refined fuels make up a large portion of India’s foreign exchange spending.
U.S. Commerce Secretary Howard Lutnick urged India to stop Russian oil imports and align with Washington, warning that otherwise, tariffs will remain. “Either support the dollar, support the U.S., or pay a 50% tariff. Let’s see how long this lasts,” he told Bloomberg.
Talks to resolve tariff disputes between Washington and New Delhi have stalled, with a planned U.S. trade delegation visit to India canceled last month. U.S. Treasury Secretary Scott Bessent has also accused India of profiteering by refining discounted Russian oil and reselling it at higher prices.
Meanwhile, Prime Minister Narendra Modi attended a summit in Tianjin alongside Russian President Vladimir Putin and Chinese President Xi Jinping, seen as a signal of solidarity against the West. Trump reacted on Truth Social, saying: “Looks like we’ve lost India and Russia to deepest, darkest, China.”
With energy imports accounting for about a quarter of India’s total imports in the last fiscal year, New Delhi insists it will continue sourcing oil based on cost, logistics, and national interest.
