In recent days, the US has consistently issued tariff threats to Russia and its trading partners. Initially, Donald Trump threatened Russia over its ongoing conflict with Ukraine, demanding cessation within 50 days or face severe tariffs. Following this, NATO warned countries trading with Russia, particularly targeting India, Brazil, and China, with a 100% tariff warning.
In response to these US threats, India, the largest buyer of Russian oil, has made a significant declaration. On Thursday, Minister of Petroleum Hardeep Singh Puri stated, 'If such measures are taken, we will manage.'
Oil Supply Unhindered by Russian Ban
Amid US targeting of major nations, including India, over oil, Petroleum Minister Hardeep Singh Puri has indicated that restrictions on Russian imports won't impact India's oil supplies. He affirmed that even if tariffs on Russia affect the supply, India is fully capable of meeting its oil requirements through alternative sources.
Source: aajtak
Puri's Assurance: 'Ready for Any Situation'
Minister Puri further noted the influx of new suppliers like Guyana, and ongoing supplies from Brazil and Canada. According to Puri, India will continue sourcing from these nations to counter any disruptions in Russian imports. Additionally, India is expanding exploration and production activities, as Puri reassured during a Delhi event, 'I am not worried at all; we will handle any situation.'
India Expands Oil Sources to 40 Nations
According to Reuters, Hardeep Singh Puri noted India's diversification of oil sources, which has increased from 27 to nearly 40 countries. Currently, Russia remains India's top supplier, contributing about 35% of India's total imports, followed by Iraq, Saudi Arabia, and the UAE.
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Warnings from Trump and NATO
Earlier this week, US President Donald Trump issued a stern warning to Russia. During a NATO meeting, he threatened Russia with a 50-day ultimatum to halt the Ukraine conflict, or face 100% tariffs and other commercial sanctions. Subsequently, NATO Secretary Mark Rutte cautioned countries like India, China, and Brazil, stating that if Moscow disregards advice to end the Ukraine conflict, economic sanctions and tariffs will follow. Rutte emphasized the importance for leaders in Beijing, Delhi, and Brasilia to heed these warnings, as they could be most affected.
