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India to continue Russian oil imports despite 50% US tariffs

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India to continue Russian oil imports despite 50% US tariffs
Illustrative purposes only: Oil tanker trucks are seen outside an oil refinery operated by Bharat Petroleum Corp. Ltd. in Mumbai, India, on April 4, 2025. (Dhiraj Singh / Bloomberg via Getty Images)

New Delhi will continue to buy Russian oil despite facing heavy U.S. tariffs for doing so, Indian Finance Minister Nirmala Sitharaman said on Sept. 5.

"Whether it is Russian oil or anything else, it's our decision to buy from the place which suits our needs, whether in terms of rates, logistics, anything," she told local media.

Kyiv and its allies have sought to reduce Russia's oil revenues, which directly fund its war against Ukraine, as the Kremlin refuses to engage in diplomatic means to cease hostilities.

Washington imposed 50% tariffs on India for its continued import of Russian oil as U.S. President Donald Trump threatened to impose secondary sanctions on Russia's trading partners if Moscow fails to make progress towards peace.

"We will have to take a call which (source) suits us the best. So we will undoubtedly be buying" Russian oil, Sitharaman said.

India has continued to purchase oil from Moscow at a discount as Russia faces isolation from the West over its war against Ukraine.

Moscow has relied on trading with China and India as the formerly lucrative European market cuts off supplies of Russian oil.  

Meanwhile, Russia's economy has reached a point of "technical stagnation," German Gref, the head of the country's biggest bank, Sberbank, said on Sept. 3.

Russian President Vladimir Putin will visit India in December of this year, the Kremlin said on Aug. 29 amid Trump's mounting pressure on New Delhi over continued energy ties with Moscow.

India accounted for 38% of Russian crude oil exports and 19% of Russia's coal exports in the period from December 2022 until the end of June 2025, according to the Center for Research on Clean Energy and Clean Air.

Trump has intensified efforts to broker a peace deal to end Russia's war against Ukraine, but has seen no success thus far.

Ukraine war latest: Ukrainian drones strike Russia’s largest Rosneft refinery in Ryazan
Ukrainian drones struck multiple Russian oil facilities overnight on Sept. 5, including Russia’s largest Rosneft refinery in Ryazan and an oil depot in occupied Luhansk Oblast, Ukraine’s top drone warfare commander Robert “Madyar” Brovdi reported.
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Volodymyr Ivanyshyn

News Editor

Volodymyr Ivanyshyn is a news editor for The Kyiv Independent. He is pursuing an Honors Bachelor of Arts at the University of Toronto, majoring in political science with a minor in anthropology and human geography. Volodymyr holds a Certificate in Business Fundamentals from Rotman Commerce at the University of Toronto. He previously completed an internship with The Kyiv Independent.

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"I don't see much point in them, (...) because it will be practically impossible to reach an agreement with the Ukrainian side on key issues: even if there is political will, which I doubt, there are legal and technical difficulties," Putin said.

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