Overview

• Indian Ambassador to Russia Vinay Kumar said companies will keep buying crude wherever prices are most favorable and called the U.S. tariffs “unfair, unreasonable and unjustified.”
• The latest 25% levy lifts total duties on Indian imports to more than 50%, with the additional charge reported to begin on August 27.
• Kumar stated that India and Russia use a functioning national-currency settlement system, saying oil payments face no obstacles.
• He said New Delhi aims to expand exports to Russia beyond energy, highlighting electronics, automobiles, textiles, fashion, construction materials, and digital and financial services.
• External Affairs Minister S. Jaishankar defended India’s stance as rooted in energy security and domestic priorities, while U.S. officials contend discounted Russian oil helps fund the war in Ukraine.