New Delhi10 minutes ago
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Russia said that we are confident that India-Russia energy cooperation will continue despite external pressure.
Russia has denied the American pressure being created on India due to buying Russian oil. Senior Russian Diplomate Roman Babushkin said- India understands that there is no alternative to change oil supply, as Russian oil is very beneficial for India.
The discount on Russian crude oil for India is about 5%. Roman Babushkin said- This is a challenging situation for India, but we believe in our relations with India. We are confident that India-Russia will continue to cooperate with energy cooperation despite external pressure.
According to a report by Reuters, the Russian embassy also said that “If Indian goods cannot go to the US market, they can go towards Russia.”
Actually, the US has imposed 50% tariffs on India for buying Russian oil. This will make India’s goods expensive in America.
America said-the purpose of ban on India is to pressurize Russia
The US has imposed economic sanctions on India to put pressure on Russia. White House Press Secretary Caroline Levit gave this information. Earlier, the Trump administration has been describing the economic action against India on taking oil from Russia as a penalty or tariff.
Trump has decided to impose a total of 50 tariffs on India so far. It has 25% resipocal ie such as tit tariff and 25% penalty on purchasing oil from Russia. The Resiprockle Tariff has come into effect from August 7, while the penalty will be applicable from August 27. According to Leavet, its purpose is to put secondary pressure on Russia, so that it is forced to end the war.
25% extra tariff on purchasing oil from Russia
Earlier, US President Donald Trump announced a 25% extra tariff on India. He signed the executive order associated with it. This order will be applicable from August 27. The executive order states that this action has been taken on India due to Russian oil purchases.
Earlier, he announced 25% tariff on India on 30 July. Now India will have a total of 50% tariff.
Cheap Russian oil increases the profits of Indian oil companies
In FY 2020, India imported only 1.7% of its needs from Russia. The stake has increased to 35.1% in FY 2025. The benefit of buying cheap oil from Russia is also shown on the profits of oil companies. According to the filing of companies …
- The total profit of Indian Oil, Bharat Petroleum and Hindustan Petroleum in 2022-23 was ₹ 3,400 crore.
- In 2023-24, the profit of these three government companies increased by 25 times. The three together earned Rs 86,000 crore.
- In 2024-2025, the profits of these companies decreased to Rs 33,602 crore, but it is more than a profit of 2022-23.
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