NEW DELHI, August 2. /TASS/. There are no reports of India stopping oil purchases from Russia, oil refineries continue to purchase oil based on cost and other economic factors, a source in the Indian government told TASS.
"We have no reports that Indian oil companies have stopped importing oil from Russia," he said.
"Indian refineries continue to purchase oil from Russian suppliers. Their decisions depend on price, crude oil grade, reserves, logistics, and other economic factors," the source pointed out.
According to him, "India's energy purchases are driven by national interests and market conditions."
Earlier, Trump said that despite friendly relations between the two countries, the US has relatively little trade with India because tariffs are "far too high, among the highest in the world." The US president pointed out that India has always purchased most of its military equipment from Russia and is also, along with China, is also the largest buyer of Russian energy resources. According to Trump, India will pay a 25% tariff in this regard. The US leader later stated that he does not care about the economic and trade ties between India and Russia, calling their economies "dead." On July 14, Trump said that the US would impose tariffs of about 100% on Russia and its trading partners if the Ukrainian settlement is not reached within 50 days.