India can afford to wean off Russian oil

Crude dilemma

- Nandita Venkatesan

India is caught between a rock and a hard place, navigating fresh US tariffs of up to 50% while maintaining long-standing ties with Russia. At the heart of the dilemma: India's oil purchases from Moscow.

With the higher tariff posing a disadvantage, many experts suggest New Delhi could gradually pivot away from Russian oil. Such a shift would come at limited macroeconomic cost, though refiners could face reduced diesel yields, tighter margins, and higher procurement expenses.