Disregarding US Sanctions, India Continues to Buy Russian Crude

India continues to buy cheap Russian crude oil, despite being punished for it by the United States, which in August imposed a 50 percent tariff on Indian exports to America, including a 25 percent penalty for importing Russian crude. The US tariffs on India are some of the highest in the world. Citigroup estimates the combined 50 percent tariff poses between a 0.6 and 0.8 percent downside risk to India’s annual GDP growth. Finance Minister Nirmala Sitharaman said on Sept. 5 that the country will keep buying Russia oil, defying demands from…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com