Russia oil gets cheaper for Indian buyers after India-US trade standoff
By Anjali Sharma
WASHINGTON – According to media reports on Tuesday reported that Russia crude oil has become cheaper for Indian buyers despite ongoing U.S. pressure on New Delhi to reduce its oil trade with Moscow.
The price of Urals crude has dipped to a discount of $3 to $4 a barrel to Brent on a delivered basis, according to media reports.
US had put steep tariffs on India as a penalty for buying Russian oil, which indirectly supports the Russian military operations in Ukraine.
Trump announced a sweeping 50 per cent tariff on Indian imports, a move he justified as retaliation for India’s continued purchase of Russian oil at discounted rates.
Former US Trade Advisor Peter Navarro made headlines with his remarks on India’s purchase of Russian oil. Navarro stated, “Putin supplies India with discounted crude oil, which India then refines and sells to Europe and Africa at a premium.”
He invoked caste-sensitive language, claimed that “Brahmins are profiteering at the expense of the Indian people,” a statement that sparked backlash and memes online
Navarro described the Russia–Ukraine conflict as “Modi war,” argued that India’s oil purchases are indirectly funding the war in Ukraine.
He criticized India’s diplomatic alignment with Russia and China particularly PM Modi’s camaraderie with Putin and Xi—calling it “a shame” and urging Modi to side with the US, Europe, and Ukraine instead.
Navarro had accused India of acting as a “laundromat for the Kremlin,” saying discounted Russian crude is refined in India and exported at high prices to Europe, Africa, and Asia, indirectly fueling Russia’s war efforts.
PM Modi, Russian President Putin, and China’s Xi shared laughter and camaraderie during the SCO Summit in Tianjin, China on Monday.
The global attention fixed on the SCO Summit, as 3 leaders were having a pull-aside conversation before the SCO family photo session.
Their meeting is widely seen as a message to US President Trump about the rise of a new world order amid his “bullying” behaviour.
Modi and Putin later travelled together to the venue of their bilateral meeting.
According to Russian media reports, Modi and Putin held a secret conversation inside the latter’s car for about 50 minutes.
