DUBAI, October 6. /TASS/. Additional US tariffs on goods from India and China are unlikely to force these countries to completely abandon Russian oil imports, Dave Ernsberger, co-chairman of S&P Global Commodity Insights, said in an interview with TASS.
"I think there's a limit to how far India or China can go in reducing imports of energy from Russia. And so, they'll take those tariffs into consideration. They'll take the view of the US administration very seriously, but there's a limit to what they can do in terms of reducing their imports, because they have their own inflation to think about their own economics where Russian energy as important part of that," the analyst said on the sidelines of the international Energy Markets Forum conference held in Fujairah.
In late August, the US imposed an additional 25% tariff on goods from India, bringing the total tariff on Indian imports to 50%. The country's authorities considered these measures unfair and declared their readiness to continue purchasing Russian oil. Indian Minister of Petroleum and Natural Gas Hardeep Puri stressed that Russian oil supplies have helped curb rising global prices.
In September, the US administration called on the European Union and G7 countries to impose significant tariffs on imports from China and India to discourage them from purchasing Russian oil. According to Bloomberg, the US demand includes the introduction of secondary tariffs of 50-100%, as well as restrictive trade measures to curb Russian energy exports.