India will continue to buy oil from Russia, despite the threats of penalties by US President Donald Trump, told Reuters on Saturday two sources of the Indian government that they did not want to be identified due to the sensitivity of the subject.
In addition to a new 25% tariff on India exports to the US, Trump indicated in a truth social publication last month that India would face additional penalties for Russian weapons and oil purchases. On Friday, Trump told reporters that he had heard that India would no longer buy oil from Russia.
But the sources said there will be no immediate changes.
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“These are long -term oil contracts,” said one of the sources. “It’s not so simple to stop buying overnight.”
Justifying Russian oil purchases from India, a second source said Indian imports of Russian oil have helped avoid a global increase in oil prices, which remained moderate despite western restrictions on the Russian oil sector.
Unlike Iranian and Venezuelan oil, Russian oil is not subject to direct sanctions and India is buying below the current price limit set by the European Union, the source declared.
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According to a New York Times report, two unidentified high -ranked Indian authorities said there was no change in the politics of the Indian government.
Indian government authorities did not respond to Reuters’ request for an official comment on their oil purchase intentions.
However, during a press conference on Friday, Foreign Ministry spokesman Randhir Jaiswal said India has a “stable and proven partnership over time” with Russia.
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“Regarding our energy supply needs … we analyze what is available in markets, what is being offered and also what the predominant global situation or circumstances is,” he said.
The White House did not immediately respond to requests for comments.
(Report by Shiam Patel in New Delhi and Chandni Shah in Bengaluru)
