Amid US Threats, Russia Announces 5% Discount on Crude Oil for India. India will continue to purchase oil from Russia. This step will provide relief in energy security and petroleum costs.
Trump Tariff: A major announcement has recently been made regarding crude oil trade between India and Russia. Russia has clarified that despite threats from US President Donald Trump, it will continue to offer a 5 percent discount on crude oil purchases to India. This announcement will provide economic relief to India in oil purchases and also strengthen energy security.
India's Opposition to US Tariffs
Recently, the United States threatened to impose tariffs on India for buying oil from Russia. The Trump administration stated that by purchasing oil from Russia, India was indirectly aiding the Russia-Ukraine war. As a result, the US had announced a 25 percent + 25 percent tariff on India. However, India opposed this decision and clarified that India's oil purchase from Russia is purely an economic and trade decision and has no involvement in any war or political activity.
Russia's Response
Evgeny Griva, Russia's Deputy Trade Representative in India, said that despite US threats, a 5 percent discount will be given on the purchase of Russian crude oil to India. Evgeny Griva told the media that despite the current global circumstances and American pressures, energy trade between India and Russia will continue. He also said that India is continuously purchasing crude oil from Russia and this سلسلہ (process) will be continued further.
Important Decision for India's Energy Security
A 5 percent discount on oil purchases from Russia is an economically significant step for India. This will not only strengthen energy security but will also reduce the cost of petroleum imports. The demand for oil in India is constantly increasing and domestic production is not sufficient. In such a situation, a continuous and cheaper source of crude oil from Russia will help in meeting India's energy needs.
