Russia offers to welcome Indian exports, discounts oil price
What's the story
Russia has offered to welcome Indian exports amid tensions with the United States. Russian Deputy Chief of Mission Roman Babushkin said the US pressure on India over its purchase of Russian crude oil was "unjustified" and "unilateral." He added that sanctions hurt those who impose them, not their targets. Babushkin assured that India-Russia energy cooperation would continue despite external pressures.
Tariff backlash
'US tariffs on India unjustified'
Babushkin's comments came after US President Donald Trump imposed tariffs on Indian goods to deter Russia from its actions in Ukraine. The additional 25% duty will come into effect on August 27. Babushkin said if India stopped buying Russian oil, it wouldn't lead to equal cooperation with the West as Western nations act like "neocolonial powers." He stressed that Russia and BRICS countries don't impose sanctions and called non-UN sanctions illegal economic weapons.
Trade growth
Trade between India, Russia has grown sevenfold
Despite sanctions, Babushkin said trade between India and Russia has grown sevenfold in recent years. He also referred to Prime Minister Narendra Modi's recent conversation with Russian President Vladimir Putin as evidence of India's importance to Russia. The Russian official emphasized that true strategic partnerships endure challenges and continue to grow together.
Crude discount
5% discount on Russian crude oil for India
Meanwhile, the Russian embassy also said, "Discount on Russian crude oil is about 5% for India. India understands there is no chance to change supplies, profit very high for India." It added, "There is no alternative to Russian crude oil as it is very competitive it said, continuing that India 'matters very much' for Russia.
Tariff response
India condemns US tariffs on imports
India has condemned the "unfair, unjustified and unreasonable" tariffs from the United States. The move is expected to impact sectors such as textiles, marine and leather exports. However, Prime Minister Modi had earlier said New Delhi wouldn't bow down to economic pressure. Babushkin also slammed Washington for its behavior toward New Delhi, saying it doesn't behave like a friend if it resorts to blackmail and pressure tactics.