After tariff cutdown by US, India likely to scale down Russian oil buys
India will reportedly reduce its Russian oil imports following the deal with the US, who has agreed to cut trade tariffs in exchange. US President Donald Trump signed an order removing the additional 25 per cent duty on Indian imports after India promised to decrease Russian oil purchases. While refiners haven’t received official orders to stop buying Russian oil, they’ve been informally told to scale back, according to sources quoted by PTI.
Officially, when asked during the MEA briefing last week about India putting a stop on buying Russian oil, spokesperson Rabdhir Jaiwal cited energy security guiding India’s decisions.
