The Russian Federation will continue to supply oil to India thanks to the "special mechanism" - Reuters
He noted that Moscow has a "very, very special mechanism" to continue exports, and the volume of imports of crude oil will remain at the current level. The diplomat also reported that President Vladimir Putin plans to meet with the Prime Minister of India Narendra Modi in New Dely by the end of the year, but the final dates are not yet defined. In total, the United States is planning to introduce an additional 25% of Indian export from August 28.
The reason for this decision was the increase in the procurement of Russian oil by India after the introduction of Western sanctions against Moscow in response to a full -scale invasion of Ukraine. At the same time, Washington did not apply similar tariffs for China due to importing Russian oil.
Last month, the European Union adopted sanctions against the Nayara Energy Indian refinery plant, which led to a reduction in its production facilities and reducing companies in cooperation with the enterprise. In addition, the deputy trading representative of Russia in India Yevgeny Griv said that the annual trade between the two countries will increase by 10%.
We will remind, on August 4, US President Donald Trump declared its intention to significantly raise duties on imports from India through active trade in Russian oil. American leader Stephen Miller has directly accused New Delhi of financing Russia's war against Ukraine. In Moscow, Trump called "trade pressure", and the authorities of India replied that the threats from the United States are "unjustified", emphasizing their own economic interests.
This further exacerbated trade differences between the two largest economies in the world. Subsequently, Trump signed a decree on the introduction of 25% of duties on goods from India. In response, state -owned refineries of the country have suspended purchases of Russian oil and began to look for alternative suppliers, including in the US, Brazil and Libya.
At the same time, the government did not formally ban the purchase of Russian raw materials, and the Prime Minister of Narendra Modi openly criticized Washington's new tariffs. It is worth noting that China called Russian oil imported and promised to continue cooperation with Moscow, despite the threats of the United States on possible new tariffs. In particular, Beijing stated that they would act in accordance with the national interests and energy security of the country.