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India's refusal to buy Russian oil requires lifting of US sanctions on Venezuela, Iran

According to the source, India’s delegation emphasized during trade talks in Washington that the simultaneous cessation of oil supplies from Venezuela, Iran, and Russia, the main oil producers, could lead to a sharp jump in global prices for petroleum products

WASHINGTON, September 25. /TASS/. India has reiterated its commitment to the US that sanctions on crude oil supplies from Venezuela and Iran must be lifted to comply with the White House's demand that New Delhi stop importing Russian oil, Bloomberg reported, citing a source.

India’s delegation emphasized during trade talks in Washington that the simultaneous cessation of oil supplies from Venezuela, Iran, and Russia, the main oil producers, could lead to a sharp jump in global prices for petroleum products, according to the source.

On August 6, the United States imposed an additional 25% tariff on India due to the fact that it purchases Russian oil and petroleum products. At the end of August, US tariffs on Indian goods and services were increased to 50%. The Indian Foreign Ministry called those actions unfair. On September 16, Indian and US negotiators resumed dialogue on the proposed trade agreement, discussing a resolution to issues arising from high tariffs that have created uncertainty for exporters.

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