India stops buying oil from Russia after US pressure
New Delhi: Following US pressure and concerns over Western sanctions, India has almost completely stopped buying oil from Russia.
According to Kashmir Media Service, a report by the American magazine, Bloomberg, claimed that India had not placed any orders for Russian crude oil for December, which are normally finalized by the 10th of every month.
According to the report, India’s five major oil refineries have not placed any new purchase orders from Russia this month. The state-owned refinery Indian Oil Corporation has also announced that it will buy Russian oil from suppliers that have not been sanctioned.
It should be noted that the US has imposed a 50 percent tariff on India for buying oil from Russia. US President Donald Trump recently said that India was fueling the “war machine” in Ukraine by buying Russian oil. After US pressure, India assured Washington that it would reduce its oil purchases from Russia in the future. The development is seen as a major shift for India’s energy policy and global trade relations.
