Bharat Express DD Free Dish

Russian oil

India on Monday strongly rejected US President Donald Trump’s threat to impose heavy tariffs over its purchase of Russian oil, calling the targeting 'unjustified and unreasonable'.

US President Donald Trump on Monday issued a fresh warning to India, saying he would 'substantially raise' the tariff imposed on the country.

Clarifying the United States' stance, two US officials stated on Monday that there hasn't been any request for India to curtail its imports of Russian oil.

Russia is supplying record amounts of crude oil to India to fill the void left by the European Union's December ban on imports

With a view to restricting Moscow's revenues, the Group of Seven (G7) coalition imposed a USD 60 per barrel price cap on seaborne Russian oil.

From a market share of just 0.2 percent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share in India's imports rose to 35 percent in February 2023..