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Source says India's purchases of Russian oil legal

The source also pointed out that Indian oil companies do not purchase Iranian or Venezuelan oil, both of which are subject to US sanctions

NEW DELHI, August 2. /TASS/. India purchases energy resources from Russia in accordance with all international norms, and oil from Russia has never been subject to sanctions, a source in the Indian government told TASS.

"India's purchases [of Russian oil] have remained completely legal and within international norms," he said. "Russian oil has never been subject to sanctions, nor is it currently subject to sanctions by the US or the EU. [Indian] oil companies have always complied with the US-recommended price cap of $60 per barrel for Russian oil," the source added.

At the same time, he recalled that the EU's recently announced price cap on Russian oil of $47.6 will come into effect in September. The source also pointed out that Indian oil companies do not purchase Iranian or Venezuelan oil, both of which are subject to US sanctions.

Earlier, US President Donald 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.

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