India has criticised the United States and the European Union for unfairly targeting it over imports of Russian oil, following U.S. President Donald Trump’s threat to raise tariffs on Indian goods.
India’s Ministry of External Affairs clarified that it began importing Russian crude only after traditional suppliers redirected shipments to Europe. The ministry highlighted what it sees as hypocrisy, stating, “it is revealing that the very nations criticising India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion [for them].”
Data shows the EU’s trade with Russia far exceeds India’s, with European Commission figures indicating a €84.7 billion volume in 2023-24, while India-Russia trade reached a record $68.7 billion in the fiscal year ending March 2025.
Despite a nearly 74% decline since 2021, the EU remained Russia’s third-largest trading partner in 2024. Meanwhile, India became Russia’s biggest crude oil buyer, importing about 1.8 million barrels per day in 2023—39% of its total oil imports.
The tensions increased after Trump accused India of profiting from discounted Russian oil and threatened higher tariffs, though without specifying rates. India insists its imports helped stabilise global energy markets, with its ministry noting, “The United States at that time actively encouraged such imports by India for strengthening global energy markets stability.”
Former U.S. Ambassador Eric Garcetti confirmed that India’s purchase of Russian oil was consistent with U.S. interests.
International Energy Agency data shows that India received 70% of Russian crude exports in 2024, helping maintain affordable energy prices domestically.
Energy Minister Hardeep Singh Puri said, “If people or countries had stopped buying at that stage, the price of oil would have gone up to 130 dollars a barrel… we were advised, including by our friends in the United States, to please buy Russian oil, but within the price cap.”
India also pointed out that the U.S. continues importing key Russian materials like uranium hexafluoride and palladium. U.S.-Russia bilateral trade stood at $5.2 billion in 2024, down from $36 billion in 2021, with no reciprocal tariffs imposed on Russia.
New Delhi called the targeting of its oil imports “unjustified and unreasonable,” vowing to protect its economic sovereignty.
Former Indian Finance Secretary Subhash Garg urged acceptance of the threatened 25% tariff, arguing American consumers and importers would bear the cost and Indian exporters could offset losses with domestic demand or new markets.
While state-owned Indian refiners have reduced Russian crude purchases under Western pressure, private firms like Reliance and Nayara Energy maintain significant imports, refining discounted Russian oil for export—even to sanctioning countries.
Should Indian imports from Russia cease abruptly, the country would likely increase crude purchases from Middle Eastern suppliers, potentially driving up costs.
Russia has defended India’s right to choose its trade partners freely, condemning U.S. pressure as interference.
Amid these challenges, India remains committed to importing Russian oil, framing it as essential to its energy security and economic stability in a volatile global environment.