12-July-2025
Economy News
 
US tariff heat looms over India’s Russian oil supplies
12-Jul-2025

A proposed US bill that includes a 500% tariff on countries importing oil from Russia could significantly disrupt Indian supplies, and also raise its oil import bill, industry experts warn. US Preesident Donald Trump is considering the Sanctioning Russia Act of 2025, which aims to pressure Russia over the Ukraine war. Russia has become India’s top crude supplier since the Ukraine conflict, now accounting for over 35% of India’s total oil imports. Indian refiners turned to Russian barrels due to steep discounts, even after Western sanctions were imposed.

News Source:- https://www.financialexpress.com/policy/economy-us-tariff-heat-looms-over-indias-russian-oil-supplies-3911274/