The country’s authorities emphasize that they will continue to buy raw materials as it remains financially benefit.
India minister Nirmala Sitaraman said the country will continue to buy Russia’s oil. She is writing about it Bloomberg On Friday, September 5.
Thus, New Delhi’s official position indicates India’s desire not to fulfill the demands of US President Donald Trump to stop the acquisition.
“Where do we buy oil, especially a large product, where we pay for imports, we must decide based on what makes more money for us. We will definitely buy,” Sitaraman said.
India remains the largest consumer of Russia’s oil, as decreased prices for the barrel allows the country to maintain control of import costs.
Earlier, the Trump administration increased duties for India to 50%, one of the highest in the world. On Friday, Trump also criticized India and Russia for strengthening the relationship with China.
At the beginning of this week, Indian prime minister Narendra Modi and President of Russia Vladimir Putin met with the China Xi Jinping leader at the Shanghai Cooperation Organization Summit in Tianjin. Leaders discussed cooperation in the field of energy and security.
Earlier, Western Media reported that India plans to increase Russian oil imports in September 10-20%, despite new US penalties. The decision is said to be associated with a reduction in Russian oil prices after attacking Ukrainian drones. And eventually, New Delhi said supplies that allegedly “maintain the world’s economy” from a jump in prices.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.