India vows to keep buying Russian oil, defying Trump’s tariff threat

Bloomberg reported the information.

India’s finance minister, Nirmala Sitharaman, stressed that New Delhi will not stop purchasing oil from Russia despite Trump’s calls to do so.

“Where we buy our oil from, especially a big-ticket foreign exchange item where we pay so much, highest in terms of import, we will have to take a call on what suits us best,” Sitharaman said. “We will undoubtedly be buying.”

The agency notes that India’s actions have irritated the U.S. administration, which has already imposed 50% tariffs on it — among the highest applied to any country.

• Late in August, reports showed several Indian refineries, among the biggest purchasers of Russian crude, intend to scale back purchases in the coming weeks, just under a day before U.S. tariffs rise.