India will continue importing oil from the most competitive sources and take measures to protect its national interest despite the US raising tariffs on Indian goods, according to India’s Ambassador to Russia, Vinay Kumar.
Speaking to TASS, Kumar described the US decision to increase duties to 50% as “unfair, unreasonable, and unjustified,” noting that India’s energy policy prioritizes reliable supplies for 1.4 billion citizens and contributes to global oil market stability.
“Our objective is energy security for 1.4 billion people. India’s cooperation with Russia and other countries has helped stabilize the global oil market. The US decision is unfair and unjustified. The government will continue taking measures to protect national interests,” Kumar said.
He added that trade occurs on a commercial basis, and Indian companies will continue to purchase oil wherever they find the best deal.
Kumar highlighted that India-Russia trade is driven by mutual interests and market factors, noting that other countries, including the US and Europe, continue trading with Russia.
Payment and Financial Arrangements
Ambassador Kumar assured that India faces no issues in payments for Russian oil, as trade settlement occurs in national currencies.
Expanding Bilateral Trade Beyond Energy
India is also keen to boost exports to Russia in sectors such as:
- Electronics and IT products
- Automobiles and auto components
- Construction materials
- Textiles and fashion products
- Phones and consumer electronics
Kumar emphasized the need to improve services trade, including financial, digital, and transportation infrastructure services, as India’s exports to Russia remain below potential despite growth.
The remarks come amid global economic tensions triggered by US President Donald Trump’s additional tariffs on Indian goods for purchasing Russian oil. The Ministry of External Affairs (MEA) has termed the move “unfair, unjustified, and unreasonable,” confirming that India will take all actions necessary to safeguard its national interests.
(With agency inputs)
