India Stands Firm: No American Pressure Will Stop Russian Oil Imports

 New Delhi (The Uttam Hindu): Trade tensions between India and the US deepened further on Wednesday when the US imposed an additional tariff of 25% on India. The US President has cited India's continued purchase of crude oil from Russia as the main reason behind this move. However, refusing to bow down to this pressure of the US, India has made its stand clear and said that oil imports from Russia will not stop.

Officials of Indian oil refinery companies have clarified that they have not received any order from the government to stop buying oil from Russia. They have rejected the American pressure and given a clear message of following the policy of 'country first and trade later'.

Officials also said that the slight decrease in oil orders from Russia in September is not due to US tariffs, but due to the reduction in the discount being given by Russia. Last year, while Russian crude oil was available at a huge discount of 2.5 to 3 dollars per barrel, now this discount has come down to only 1.5 to 1.7 dollars per barrel. The industry is hopeful that orders may increase again from October, as there is a possibility that Russia may once again increase the discount.

A senior industry official said, the government's message is very clear that we will not bow down to anyone's pressure. If we stop oil imports now, America will impose more conditions in the future. Oil industry experts believe that India has the option of buying crude oil from other countries, but doing so will be considered as bowing down to American pressure, so the government is currently avoiding going on this path.

According to experts, even if India stops buying oil from Russia, it will not have any major impact on the global oil market, because Russia will sell its oil to some other country and India will meet its needs from other markets. This will only bring a slight change in the global supply chain. At present, Indian refineries are keeping a close eye on the situation and their entire focus is on ensuring adequate and continuous supply of oil for the country.