US Increases Export Tariffs India, Russia Continues Oil Supply To New Delhi

UNSPLASH/Christian Harb ILLUSTRATION

JAKARTA - Russia will continue to supply oil to India amid additional United States sanctions issued by President Donald Trump against New Delhi for buying oil from Russia.

"Russia has a very, very specific mechanism for continuing oil supplies to India," Roman Babushkin, a businessman at the Russian embassy in India, told reporters at a news conference on Wednesday, August 20.

He stressed India's crude imports from Russia would remain at the same level.

The US is known to charge an additional 25% tariff for Indian exports on August 28, citing rising imports of oil from Russia after Western powers imposed sanctions on Russian supplies following its invasion of Ukraine.

However, the US has yet to impose a similar tariff on China over the purchase of Russian oil.

Last month, the European Union sanctioned Russia-backed Indian oil refinery Nayara Energy, causing the refinery to reduce processing and companies to reduce trade with them.

"Trade between India and Russia is expected to grow 10% per year," said Evgeniy Griva, Deputy Russian Trade Representative for India.