US Tariff Threats On Russian Oil Should Not Derail India’s Energy Strategy: GTRI

New Delhi, Jul 30 (KNN) The Global Trade Research Initiative (GTRI) on Wednesday said India’s decisions on crude oil imports should be guided by economic interests, energy security, and strategic autonomy, rather than concerns over potential US tariff actions.

The think tank made the remarks after the United States Senate advanced a sanctions bill that could allow US President Donald Trump to impose tariffs of up to 100 per cent on countries importing Russian oil, including India.

Maintain Commercially Viable Sourcing

GTRI noted that as long as Russian crude remains commercially viable, India should continue sourcing it, adding that any differences with Washington should be addressed through dialogue and negotiation rather than unilateral policy changes under pressure, PTI reported.

GTRI founder Ajay Srivastava said, “India should avoid recalibrating its policies in response to every new US action. Decisions on crude oil imports must be driven by India's economic interests, energy security, and strategic autonomy, not by the threat of additional US tariffs.” 

Rising Use of Trade Measures

The think tank emphasised that the United States is increasingly using trade and economic tools to pursue strategic objectives, which may place added pressure on partner countries.

While China remains the largest buyer of Russian crude, Srivastava noted that India could face greater scrutiny under the proposed legislation.

Russia Remains Key Supplier

“Access to discounted Russian crude has significantly lowered India's import bill, supported energy security, and helped contain inflation,” he said.

According to GTRI data, Russia accounted for 30.3 per cent of India’s crude oil imports in FY26, valued at USD 40.8 billion out of total imports of USD 134.7 billion, making it the country’s largest supplier.

(KNN Bureau)