Russia offers India more cheap oil, promises tariff help – Media
Russia offers India to buy more oil (photo: Getty Images)
The Russian regime is urging India to buy more Russian oil. In return, it promises to increase trade with this country and help cope with US tariff pressure on New Delhi, Bloomberg reports.
Deputy Trade Representative of Russia in India, Evgeny Griva, stated on August 20 that Russia expects an increase in purchases of Russian oil by Indian refineries, or at least maintaining their level at the current figure.
Moreover, Griva admitted that Russia is now selling oil to India at a 5% discount and expressed hope that Indian-Russian trade will grow by 10% every year.
The publication recalled that the Russian official's statement came amid increasing customs pressure on India from the United States. After the tariffs that Washington announced against New Delhi, India's imports of oil from Russia dropped by half.
The Kremlin seems to clearly understand that it may lose one of its main oil buyers. Senior Russian diplomat in India Roman Babushkin has already promised New Delhi golden mountains, saying that Russia is ready to buy more Indian goods that suffered from US tariffs. In addition, Russia is ready to provide India with assistance in the production of jet engines in the domestic market.
Indian state-owned refineries lost their fear and returned to purchases of Russian Urals oil after a short pause, despite high tariffs and criticism from the administration of US President Donald Trump.
Indian refineries urgently stopped purchases of Russian oil after the United States imposed large-scale tariffs on Indian goods.
According to sources, companies were waiting for instructions from the government after the US decision to impose an additional 25% tariff on Indian goods. The new measures were a reaction to the continuous import of Russian oil.
