Middle East conflict puts end to US plans to force India to cut purchases of Russian oil
Washington admitted that it would not be able to deprive Russia of one of its most loyal customers
NEW YORK, March 10. /TASS/. The US administration's attempts to force India to slash its purchases of Russian oil appear to have failed due to fighting in the Middle East, according to CNN.
The TV channel claimed in an analytical report that due to Washington’s pressure India had already begun to reduce its purchases of Russian oil in favor of supplies from the Middle East, but the start of the US and Israeli military operation against Iran has effectively closed the Strait of Hormuz, through which almost all Middle Eastern oil passes. Having lost other options for purchasing crude, India is now turning again to Russian oil, CNN said.
Washington admitted, in fact, that it would not be able to deprive Russia of one of its most loyal customers as last week the US Department of the Treasury issued a license for India to purchase Russian oil that it already in tankers at sea for 30 days. It also covers transactions with petroleum products and supplies of crude loaded onto any vessels up to and including March 5, CNN added. According to US officials, the decision was made to ease pressure on the global oil market amid the US and Israeli military operation against Iran.
Putting pressure on India, the US administration lifted additional 25% tariffs on Indian imports on February 7, citing New Delhi’s refusal to purchase Russian oil. As stated in the executive order, the US would be prepared to take action against India, including reinstating additional import tariffs, if it continues to purchase oil from Russia.