Finance Minister Nirmala Sitharaman has on Fridday said that India will continue importing crude oil from Russia, despite mounting US pressure and newly imposed tariffs. She emphasised that India’s energy decisions are based on national interests and economic logic, not external demands.
Speaking to CNN-News18, Sitharaman said, “Whether it’s Russian oil or anything else, we will buy from wherever it suits our needs in terms of pricing, logistics, and supply security.
Oil is a major foreign exchange expense, and we will act in our best interest. We will undoubtedly continue buying it.”
Her remarks come in response to US President Donald Trump’s recent imposition of a 50 per cent tariff on Indian goods, citing New Delhi’s continued oil purchases from Moscow as indirectly supporting Russia's war in Ukraine.
Sitharaman added that India’s latest GST reforms, aimed at simplifying and reducing indirect tax rates would help cushion the blow of these tariffs. The government is also preparing targeted support measures for sectors most affected.
Meanwhile, Trump doubled down on his criticism in a Truth Social post, reacting to Prime Minister Narendra Modi and Russian President Vladimir Putin's presence in Tianjin hosted by Chinese President Xi Jinping.
“Looks like we’ve lost India and Russia to deepest, darkest China. May they have a long and prosperous future together!” he wrote.