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Why India buys Russian oil and will it yield to Trump's tariff pressure?
US President Donald Trump on Wednesday (Aug 6) announced an additional 25 per cent tariff on India over its purchase of Russian oil, bringing the combined levy to 50 per cent. This brought ties between India and the US to a new low. CNA looks at how India's Russian oil imports have grown in recent years, why this is an issue for Trump and the potential impact of the higher tariffs. As one of the world’s largest oil consumers, India relies on foreign suppliers for more than 85 per cent of its oil needs. The country traditionally relied on the Middle East for its oil supply. However, the outbreak of the Ukraine war ... (full story)
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- Aug 7, 2025 11:42am Posted byFundamental Analysis5,372
