India Will Keep Buying Russian Oil Despite US Tariffs: FM Sitharaman
Finance Minister Nirmala Sitharaman said on Friday that India will continue to buy oil from Russia, even though the United States has raised tariffs on Indian goods.
She explained that India’s oil decisions are based on cost and business needs, not politics. “We will buy Russian oil if it helps India’s economy,” she said.
Recently, the US imposed 50 percent tariffs on some Indian goods. These duties were first introduced during the Trump administration. Sitharaman said that India’s Goods and Services Tax (GST) reforms—such as lowering and simplifying tax rates—are helping reduce some of the impact.
She also said the government is planning more measures to support businesses that are struggling because of the higher tariffs.
At the same time, Foreign Minister S. Jaishankar will attend the BRICS summit, where trade issues and energy security are likely to be major topics.
India’s position shows that it will keep focusing on affordable energy for its people while handling difficult trade relations with the US.