https://sputniknews.in/20250827/india-stays-firm-on-russian-oil-imports-as-us-50-tariffs-kick-in-9663831.html
India Stays Firm on Russian Oil Imports as US 50% Tariffs Kick In
India Stays Firm on Russian Oil Imports as US 50% Tariffs Kick In
Sputnik India
Government sources told Sputnik India that India's stance on Russian oil imports remained the same as it was before, energy-procurement decisions would be guided by market factors such as availability, pricing & national interest
2025-08-27T11:26+0530
2025-08-27T11:26+0530
2025-08-27T15:08+0530
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The additional 25% tariffs on Indian imports entering the US kicked in on Wednesday at 9:30 AM (IST), increasing the total duty on Indian imports to 50%, one of the highest rates in Asia.A notice by the US Department of Homeland Security (DHS) on 26 August said that an additional ad valorem rate of duty of 25% on Indian imports was in line with the Executive Order 14329 signed by President Donald Trump on 6 August due to India's direct and indirect imports of Russian oil.Data available for the first 15 days of August shows that Indian imports of Urals-grade crude rose to 2 million barrels per day (bpd) from 1.6 million bpd in July, according to Kpler, which said that around 38% of India's overall crude imports came from Russia in the period.The Indian leadership has taken a tough stance since the reciprocal tariffs of 25% kicked in on 7 August, which was due to India's refusal to cede to US negotiators' demands to open up to US farm imports, including Genetically Modified (GM) crops, described as one of New Delhi's "red lines"."My government will never let any harm come to the small entrepreneurs, farmers, and animal keepers. No matter how much pressure comes, we will keep increasing our strength to withstand it," Prime Minister Narendra Modi told a public meeting in his home state of Gujarat on Monday, two days ahead of the US tariff deadline.Meanwhile, External Affairs Minister (EAM) S Jaishankar rejected the US charge that India was "profiteering" from buying Russian oil, while calling on US and EU to not buy Indian refined products if they didn't want to. He said that India's strategic autonomy was a "red line" for the government as well.Explaining the impact of 50% US tariffs on Indian industries, Commerce Ministry-backed Federation of Indian Export Organisations (FIEO) said on Tuesday evening that around 55% of India's US-bound shipments (worth $47-48 billion) are now exposed to "pricing disadvantages" of 30-35%, rendering them uncompetitive in comparison to its competitors from China, Vietnam, Cambodia, Philippines and other Southeast and South Asian countries.The apex trade organisation called for "immediate government support" for affected exporters in the form of loan moratoriums, availability of cheaper credit, interest subvention schemes, collateral-free lending, more Production Linked Incentives (PLIs) and export credit.
https://sputniknews.in/20250822/india-tells-russia-to-sustain-oil-trade-despite-us-tariff-threat-9644087.html
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India Stays Firm on Russian Oil Imports as US 50% Tariffs Kick In
11:26 27.08.2025 (Updated: 15:08 27.08.2025) Government sources told Sputnik India that India's stance on Russian oil imports remained the same as it was before, which is that energy-procurement decisions would be guided by market factors such as availability, pricing and in the "national interest"
The additional 25% tariffs on Indian imports entering the US kicked in on Wednesday at 9:30 AM (IST), increasing the total duty on Indian imports to 50%, one of the highest rates in Asia.
A notice by the US Department of Homeland Security (DHS) on 26 August said that an
additional ad valorem rate of duty of 25% on Indian imports was in line with the Executive Order 14329 signed by President Donald Trump on 6 August due to India's direct and indirect imports of Russian oil.
Government sources have told Sputnik India that there hasn't been any "directive" from concerned Indian departments asking the refiners to stop purchases of Russian crude in view of US pressure.
Data available for the first 15 days of August shows that Indian imports of Urals-grade crude rose to 2 million barrels per day (bpd) from 1.6 million bpd in July, according to Kpler, which said that around 38% of India's overall crude imports came from Russia in the period.
The Indian leadership has taken a tough stance since the reciprocal tariffs of 25% kicked in on 7 August, which was due to India's refusal to cede to US negotiators' demands to open up to US farm imports, including Genetically Modified (GM) crops, described as one of New Delhi's
"red lines"."My government will never let any harm come to the small entrepreneurs, farmers, and animal keepers. No matter how much pressure comes, we will keep increasing our strength to withstand it," Prime Minister Narendra Modi told a public meeting in his home state of Gujarat on Monday, two days ahead of the US tariff deadline.
Meanwhile, External Affairs Minister (EAM) S Jaishankar rejected the US charge that India was "profiteering" from buying Russian oil, while calling on US and EU to not buy Indian refined products if they didn't want to. He said that India's strategic autonomy was a "red line" for the government as well.
Explaining the impact of 50% US tariffs on Indian industries, Commerce Ministry-backed Federation of Indian Export Organisations (FIEO) said on Tuesday evening that around 55% of India's US-bound shipments (worth $47-48 billion) are now exposed to "pricing disadvantages" of 30-35%, rendering them uncompetitive in comparison to its competitors from China, Vietnam, Cambodia, Philippines and other Southeast and South Asian countries.
FIEO said that the maximum impact would be felt in labour-intensive sectors such as textiles and apparels, leather, ceramics, chemicals, handicrafts, carpets and seafood exports among others. It said that textile and apparel manufacturers in cities like Tirupur, Noida and Surat having already halted production due to "worsening cost competitiveness".
The apex trade organisation called for "immediate government support" for affected exporters in the form of loan moratoriums, availability of cheaper credit, interest subvention schemes, collateral-free lending, more Production Linked Incentives (PLIs) and export credit.
"Aggressive market diversification through accelerated trade agreements (FTAs) with the EU, Oman, Chile, Peru, GCC, Africa, and other Latin American countries with a provision for early-harvest for labour-intensive sectors should be prioritized. However, leveraging the negotiating window for urgent diplomatic engagement with the US still remains the key," FIEO said.
