By Admin 
Russian crude oil import: Buying India’s oil from Russia is not pleasing to America. Due to this, the US President increased the baseline tariff of 25 percent imposed on India to 50 percent. This extra 25 percent has been imposed as a penalty on India for the purchase of oil from Russia. However, a report by the Indian Express quoted official trade data stated that the import of Russian oil has helped Indian refineries to save at least $ 12.6 billion in about three years.
India depends on the import of crude oil
During the analysis of official trade data, the price of India’s Russian oil imports was compared to other countries with crude oil. However, the higher quantity of savings was estimated earlier, because the discount on Russian crude oil has also been reduced over time. However, whatever savings have been done, it is also no less. That is, India is in profit even after Trump’s penalty and tariffs are imposed.
India is the third largest country in the world in terms of oil consumption after America and China. India imports 80 percent oil of its need. In such a situation, if India sidelines Russia like other Western countries, then how much its import bill would have increased. In such a situation, even after the restrictions of Western countries, India continued to import crude oil from Russia. If India does not do so much dependent on the import of crude oil, then the oil prices at the international level start touching the sky.
America wants to demolish Russia’s economy
Trump’s government in America sees India’s mass import of Russian crude oil as a means to eliminate the war on Ukraine by putting pressure on Russia. Since crude oil exports are a very big source of earnings for Russia and India is its second largest buyer after China. In such a situation, if India stops purchasing crude oil from Russia, then it will have a big impact on the economy of Russia and this is what America wants to attack the economy of Russia directly. But India is not ready to bow down to the US pressure on the purchase of oil from Russia as Russia has been a strategic ally of India for a long time. India is not ready to renounce its strategic autonomy.
Impact on India’s exports
Of course, the installation of heavy tariffs of America will have a major impact on the export of Indian goods. The Global Trade Research Initiative (GTRI) estimates that India’s exports to the US will decrease from US $ 87 billion in 2024-25 to about $ 49.6 billion in 2025-26. The interesting thing in this is that Trump, who has imposed tariffs on India, has not yet taken any such action against China, the biggest buyer of Russian oil.
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