Evgeniy Griva, Russiaโs deputy trade representative to India, stated that future supplies would carry an agreed reduction, saying, โThere will be a 5% discount, subject to negotiation, on Russian crude oil purchases to India.”
Russia on Wednesday said it will continue to supply crude oil to India at a 5% discount even as the US imposed tariffs and sanctions in an attempt to curb New Delhiโs imports from Moscow. Evgeniy Griva, Russiaโs deputy trade representative to India, stated that future supplies would carry an agreed reduction, saying, โThere will be a 5% discount, subject to negotiation, on Russian crude oil purchases to India.”
5% swing is subject to negotiations
However, the Russian Embassy in New Delhi clarified that a 5% swing is subject to negotiations.
Griva suggested the arrangement was stable despite the broader political climate. โApproximately the same level of oil will be imported by India,” he said, describing discounts as โa commercial secret” but typically โplus-minus 5%”.
He was later joined by Roman Babushkin, Russiaโs deputy chief of mission in New Delhi, who said Moscow trusted its longstanding partnership with India.
โIt is a challenging situation for New Delhi, but we have trust in our ties. We are confident that India-Russia energy cooperation will continue notwithstanding the external pressure,” Roman Babushkin said.
US accuses India of funding war in Ukraine by buying Russian oil
In the meantime, the US accused India of funding the war in Ukraine by buying Russian oil and imposed 50 per cent tariffs on New Delhi for buying oil from Russia. “India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs,” White House trade adviser Peter Navarro hadย said.ย
Last month, US President Donald Trump had imposed a 50% tariff on Indian exports to the US, citing its purchases of Russian energy. He also argued that the move is intended to deter Moscow from prolonging the war.
In the meantime, White House Press Secretary Karoline Leavitt stated that the sanctions were part of a wider strategy to pressure Russia into negotiations, adding, โThe president has put tremendous public pressure to bring this war to a close. He has taken actions- sanctions on India and other measures- to make clear that he wants this war to end.”
India condemns US tariffs
However, India condemned the US tariffs, calling them โunfair, unjustified and unreasonable”.ย Moreover, PM Modi said that India would not compromise on the interests of its farmers, livestock rearers and fishermen.