Despite escalating U.S. tariffs, India will likely continue buying Russian oil for affordable energy in the short term, while simultaneously negotiating a trade deal with the United States to protect its broader economic interests. On Aug. 6, U.S. President Donald Trump signed an executive order that places a new 25% tariff on Indian imports, effective Aug. 27, bringing total U.S. tariffs on India to 50%. In justifying the tariff hike, Trump cited India's continued purchases of Russian oil, arguing that these transactions have helped finance Russia's war in Ukraine. The move comes as Trump has repeatedly voiced frustration with Russian President Vladimir Putin over stalled ceasefire negotiations with Ukraine. In response to Trump's tariff announcement, the Indian government stressed its oil purchases were guided by market dynamics and the need to secure energy for its population, and asserted that India will act to defend its national interests. India has also...
