Russia states oil trade with India won't be hit

NEW DELHI: Russia on Wednesday dismissed concerns about sanctions and tariffs imposed by the US and European Union (EU) hitting oil supplies to India, with senior Russian officials saying Moscow has a “very special mechanism” to get around punitive measures imposed by the Donald Trump administration to curb energy trade.

- Rezaul H Laskar

Russia also remains a “partner of choice” for India in defence, and hostilities between India and Pakistan in May served as a “very successful battle test” for Russian weaponry such as the S-400 air defence system, chargé d'affaires Roman Babushkin told a media briefing. He confirmed that President Vladimir Putin will travel to India later this year for an annual summit though dates are yet to be finalised.

India is the second largest buyer of Russian oil after China, and Moscow accounts for almost 40% of the country's energy supplies.

Purchases were significantly ramped up after the West slapped sanctions on Russia over the invasion of Ukraine in 2022.

The US is set to impose a 25% punitive tariff on Indian exports from August 28 over Russian oil purchases, which will be in addition to a 25% reciprocal tariff.

Babushkin and deputy trade commissioner Evgeny Griva, however, were confident that Russia would be able to circumvent pressure from the US and its Western allies over energy trade with India.