News Desk
The News Desk provides timely and factual coverage of national and international events, with an emphasis on accuracy and clarity.
India turned to Russian crude in part to navigate the energy crisis caused by the US-Iran conflict.
File
India said on Thursday it would keep buying oil from "diversified" suppliers, after US lawmakers passed a Russia sanctions bill aimed at squeezing Moscow over its war in Ukraine.
The legislation could expose India to steep tariffs on its energy trade with Russia.
What did India say about the US Russia sanctions bill?
India's foreign ministry said it "remains firmly committed to ensuring energy security for its 1.4 billion people" and would keep sourcing oil on the basis of "evolving market dynamics."
It added that "the Indian side has also made clear its determination to take all necessary measures to protect its trade and economic interests."
What does the US Russia sanctions bill target?
The legislation targets Russia's energy and defense sectors, President Vladimir Putin and other senior officials, and Moscow's so-called shadow fleet of tankers used to circumvent Western sanctions. It also gives President Donald Trump authority to impose tariffs of up to 100 percent on major buyers of Russian oil and gas, including potentially China and India. The measure is designed to choke off revenue financing Moscow's war in Ukraine.
Moscow remains one of New Delhi's most important strategic partners and military suppliers. Putin and Indian Prime Minister Narendra Modi held talks in New Delhi last week, ahead of a BRICS summit.
The ministry said "this issue has been discussed at high levels in recent months with various US interlocutors," adding that its implications for both the bilateral relationship and the international energy market "have been very clearly articulated by the Indian side."
Why does India keep buying Russian oil?
India turned to Russian crude in part to navigate the energy crisis caused by the US-Iran conflict, despite Moscow's war in Ukraine and pressure from Washington and other Western capitals.
Indian refiners nearly doubled crude imports from Russia to 2.25 million barrels a day in March, weeks after the Middle East war erupted, helped by temporary US waivers. Shipments hit a record 2.81 million barrels a day in July, according to trade intelligence firm Kpler, before dropping back to 2.07 million last month.
Comments
See what people are discussing