Brief by Shorts91 NewsDesk / 05:20am on 29 Aug 2025,Friday Business
India plans to increase Russian oil imports by 10-20% in September despite US doubling tariffs on Indian exports to 50% over Moscow crude purchases. Indian refiners expect to buy an additional 150,000-300,000 barrels daily from August levels. Since Western sanctions following Russia's 2022 Ukraine invasion, India became a major Russian crude buyer, averaging 1.5-1.6 million barrels daily by mid-2024, meeting 40% of domestic needs. While US officials accuse India of "profiteering" from discounted oil, New Delhi defends purchases as necessary for energy security of 1.4 billion citizens. India maintains its cooperation with Russia helps stabilize global energy markets, prioritizing national interest over geopolitical considerations. (PC: Mint & Times Now)
