New Delhi: India may be gradually reducing its reliance on Russian crude after, according to US trade representative Jamieson Greer.
Greer claimed that India is already beginning to diversify away from Russian oil after the United States imposed a 25% tariff on New Delhi over its oil imports from Russia, in addition to the 25% reciprocal tax levied earlier.
Speaking at the Economic Club of New York, Greer explained that the tariff is divided into two parts — one linked to broader trade negotiations with India and the other specifically targeting New Delhi’s sharp increase in Russian oil purchases over the past few years.
“When you talk about a 50% tariff on India, half of that, 25%, is the trade-related side, where we’re negotiating a deal. The additional 25% is for the huge increase in Russian oil that India has been buying,” Greer said.
Greer went on to claim that despite India’s strong historical relations with Russia, its oil imports from Moscow have surged dramatically in last two to three years, largely because of discounted crude following Western sanctions on Russia.
“India has not always bought so much Russian oil. They’ve always had ties with Moscow, but this scale of buying began recently, for consumption, refining, and resale. I can already see them starting to diversify. They get it. India is a sovereign country and controls its own decisions,” Greer said.
The Indian government is yet to react.
Greer went on to state that President Donald Trump is not seeking to dictate India’s foreign policy, but to address the ongoing Russia-Ukraine conflict through targeted trade measures.
“President Trump is focused on this very discreet issue, ending the Russia-Ukraine war. We’re not trying to dictate who countries can have relations with. That’s not what we’re doing,” Greer said.
India will not bow to pressure, says Putin
Responding to US claim, President Vladimir Putin asserted that India will continue importing Russian energy despite American sanctions and tariffs.
Putin said he believes Prime Minister Narendra Modi will never allow India to be “humiliated” or pressured into changing its strategic decisions.
“India will never allow itself to be humiliated by anyone. I know Prime Minister Modi; he will not make any such decisions,” Putin said while speaking at Valdai Discussion Club in Sochi.