India to boost Russian oil imports in September despite US pressure — Reuters
According to the forecast, Indian refineries will increase purchases of Russian oil in September by 10-20%, or by 150,000-300,000 barrels per day compared to August
LONDON, August 28. /TASS/. India is ready to increase purchases of Russian oil in September, despite pressure from the US administration, Reuters news agency reported citing sources.
According to their forecast, Indian refineries will increase purchases of Russian oil in September by 10-20%, or by 150,000-300,000 barrels per day compared to August. In the first 20 days of August, India imported 1.5 million barrels of Russian oil per day, flat on July. These volumes account for about 1.5% of global supplies, making India the largest buyer of Russian oil. Russia covers about 40% of its needs.
"Unless India issues a clear policy directive or trade economics shift significantly, Russian crude will likely remain a core part of its supply mix," the sources said.
Earlier, Indian ambassador to Russia Vinay Kumar told TASS that India will buy oil where it benefits, and called the US duties decision unfair and unreasonable.
On August 6, the United States imposed additional 25% duties on India for its purchase of Russian oil and petroleum products on top of previous 25% duties driving total tariffs on its imports to 50%. US President Donald Trump criticized India for always purchasing most of its military equipment from Russia and being the largest buyer of Russian energy along with China.
The Indian Foreign Ministry called the attacks by the United States and the EU over the import of Russian oil unjustified. Western countries have previously encouraged such trade and continue to purchase goods and services from Russia themselves. The Indian Foreign Ministry said that it is extremely regrettable that the United States imposed additional duties against India for actions that a number of other countries are also taking in their national interests. It promised to take all necessary measures to protect its national interests.