India will continue purchasing oil from sources offering the “best deal” despite mounting US tariffs on Indian goods, New Delhi’s envoy to Moscow said. Speaking to Russian state news agency TASS, India’s Ambassador to Russia, Vinay Kumar, targeted Washington’s decision to double tariffs on Indian imports in response to New Delhi’s continued energy trade with Russia.

“The US decision is unfair, unreasonable and unjustified,” Kumar said, calling the tariff hike a penalty that undermines the principles of fair trade.

“Our objective is energy security of 1.4 billion people of India and India’s cooperation with Russia as well as several other countries has helped to bring about stability in the global oil market,” he told TASS.

Kumar’s remarks come weeks after Washington imposed an additional 25 per cent levy on Indian imports, pushing duties to 50 per cent.

ENERGY SECURITY AT THE CORE

The envoy stressed that India’s energy policy is shaped by the need to secure reliable supplies for its population, not external political pressure.

“Government will continue taking measures which will protect the national interest of the country,” Kumar said.

“And the trade takes place on commercial basis. So if the basis of commercial transaction trade imports are right, Indian companies will continue buying from wherever they get the best deal. So that’s what the current situation is,” he added.

India has repeatedly defended its oil imports from Russia, arguing that access to affordable energy is crucial for its economic stability. Officials have also pointed out that other countries, including the United States and European nations, continue some level of trade with Moscow.

“Our trade is based on market factors and done with the overall object of ensuring the energy security of 1.4 billion people of India. There are other countries, including the US itself and in Europe, trading with Russia,” Kumar said.

JAISHANKAR HITS OUT AT US TARIFFS

The envoy’s comments echoed earlier remarks by External Affairs Minister S Jaishankar, who on Saturday criticised the tariff hike. Jaishankar called Washington’s move as “unjustified and unreasonable.”

He said that New Delhi would not compromise the interests of Indian farmers and small producers.

India, the world’s third-largest oil importer, has ramped up purchases of Russian crude since 2022, often at discounted rates, despite Western sanctions on Moscow.

INDIA-RUSSIA BILATERAL TRADE

Addressing concerns about financial transactions, Kumar said that India and Russia had put in place a stable system for settlements in national currencies.

“India and Russia have a working system of trade settlement in national currencies. There is no problem now in payment for oil imports,” he said.

The arrangement, developed in the aftermath of Western sanctions on Russia’s banking system, has allowed energy trade between the two countries to grow significantly.

Despite the surge in bilateral trade — largely driven by Indian oil imports from Russia — India’s exports to the Russian market remain relatively modest.

– Ends

With inputs from agencies

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