India and Russia Defy US Threats on Oil Imports

The United States’ threat to impose heavy tariffs on India for importing oil from Russia has been met with strong resistance from both India and Russia. Kremlin spokesperson Dmitry Peskov responded to the threat, stating that it is “unlawful” for one country to stop others from trading with Russia.

Key Developments

• US Threats: US President Donald Trump threatened to impose heavy tariffs on India if it continues to import oil from Russia, claiming that India is not only buying Russian oil but also selling it in the open market to make a profit.
• Russia’s Response: Peskov said that every country has the right to make its own trade decisions and that exerting pressure on others to influence their decisions amounts to “blackmail.”
• India’s Stance: The Indian government has also rejected Trump’s threats, with the Ministry of External Affairs stating that targeting India in such a manner is “inappropriate and incorrect.” India has emphasized its right to protect its national interests and make necessary decisions.

Implications

• Trade Relations: The development highlights the complexities of global trade relations, particularly in the context of the ongoing Russia-Ukraine conflict.
• Energy Security: India’s decision to continue importing oil from Russia underscores its commitment to ensuring energy security and diversifying its energy sources [1].

Source – Danik Jagran