Trump’s ultimatum did not work: India continues to purchase Russian oil

Indian refineries have the right to continue buying oil from Russia, as the country’s authorities have not decided on a ban.

This was reported by Bloomberg.

According to sources, the purchase of crude oil in Russia remains a commercial decision that both state-owned and private refineries make at their discretion.

At the same time, last week, Indian refineries were instructed to develop a plan for purchasing non-Russian raw materials, in particular, the companies had to find alternative ways to obtain oil and determine possible purchase volumes.

However, as noted, India currently continues to buy Russian oil, despite threats from US President Donald Trump.

Reducing or stopping oil purchases from Russia will force India to source its oil from other countries, including the Persian Gulf countries, where oil is much more expensive.

As a reminder, US President Donald Trump announced the introduction of new tariffs for India : from August 1, the country will have to pay 25%. He explained that India buys most of its military equipment from Russia and, together with China, is one of the largest consumers of Russian energy.

It is worth adding that Oil Minister Hardeep Singh Puri said that India will be able to meet its oil needs from alternative sources if Russian supplies are cut off by US sanctions.

Earlier, India’s state-owned oil refining companies temporarily stopped purchasing Russian oil after US President Donald Trump threatened to impose 100% tariffs on countries that continue to buy energy resources from Moscow.

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