US may hit India with tariffs over Russian oil: Puri
India's Petroleum Minister Hardeep Singh Puri says he's not worried about the US threatening new sanctions or tariffs on Russian oil.
"If something happens, we'll deal with it," he assured, after President Trump warned countries like India could face 100% tariffs if Russia doesn't change course in Ukraine.
Russia still supplies about 35% of India's oil
Russia currently supplies about 35% of India's oil—making it the top source.
But India has already started mixing things up, now buying from nearly 40 countries (up from 27), including newcomers like Guyana, Brazil, and Canada.
Major private players like Reliance and Nayara handle half of these Russian imports.
India could go back to old supply mix
Indian Oil Corporation's chairman said if needed, India could go back to its old supply mix—where Russian oil was less than 2%.
Plus, there's a renewed push for finding more oil at home to keep energy secure.
Despite global tensions, crude prices remain steady and supplies are holding up well for now.