India has decided to continue its imports of Russian oil despite the United States imposing a 50% tariff on Russian energy exports. In a statement, Finance Minister Nirmala Sitharaman said that the decision is rooted in the country’s economic interests, emphasizing that India will continue to source oil from the country that offers the best terms in terms of cost and logistics.
The move comes amid ongoing tensions between the United States and Russia, particularly in the wake of the ongoing conflict in Ukraine. While the U.S. seeks to reduce its reliance on Russian energy, India has opted to maintain its supply chain, citing the cost advantage and existing infrastructure for Russian oil imports.