India Should Resist US Pressure, Continue Russian Oil Imports: GTRI

(MENAFN- KNN India) New Delhi, July 18 (KNN) India should continue its oil imports from Russia and not yield to external pressure from the United States, particularly in light of recent tariff threats by former US President Donald Trump, the Global Trade Research Initiative (GTRI) said on Thursday.

Ajay Srivastava, Founder, GTRI, emphasised that discounted Russian crude has played a significant role in helping India contain inflation and uphold macroeconomic stability amid global volatility.

“India must reject this pressure and stay firm on its Russia strategy,” Srivastava said, adding that low-cost Russian oil has enabled the country to manage inflationary pressures and maintain economic resilience despite uncertain global conditions.

His comments follow reports that Donald Trump has threatened to impose a 100 percent tariff on countries continuing to purchase oil from Russia, should he return to power.

He warned that altering India's oil import strategy in response to such threats could backfire.

Srivastava cautioned that changing course under external pressure would be ineffective.“Altering that policy will not stop US threats-it will only invite more,” he said, noting that Trump has a pattern of issuing tariff threats for various reasons.

He further noted that even a formal trade agreement with the US may not provide lasting protection, as 'Trump could shift the goalposts later'.

(KNN Bureau)

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