The American Ambassador to India acknowledged India’s ongoing Russian oil purchases as “essential” for both US and Indian consumers and refiners.
US Ambassador to India Sergio Gor on Wednesday praised India as a “great partner” for maintaining global oil price stability. Acknowledging India’s ongoing Russian oil purchases as “essential” for both US and Indian consumers and refiners, he said India is responsible for stability in the oil market.
“India has been a great partner in maintaining stable oil prices around the world. The United States recognises ongoing purchases of Russian oil are a part of it and it is essential for one of the largest consumers and refiners of oil market stability for Americans and Indians,” wrote Gor on social networking site X (formerly Twitter).
Gor’s remarks follow White House Press Secretary Karoline Leavitt’s statement that the US had allowed India to temporarily purchase Russian oil in the wake of the disruptions to global energy supplies amid the conflict in West Asia. She also said that the decision came because India has been a “good actor”.
Leavitt added that the measure is short-term in nature and, hence, will not provide significant financial benefit to Russia.
US Treasury Secretary Scott Bessent had previously mentioned a 30-day waiver allowing India to buy stranded Russian oil amid the West Asia conflict.
Despite the Trump administration’s criticism of India’s purchases of Russian oil, India has stood firm on its stance that its oil trade with Russia is both legal and in its national interest.
India-US trade deal status
In February, the US president signed an executive order removing a punitive 25 per cent duty on Indian goods while cutting a reciprocal rate from 25 per cent, bringing the effective total tariff on Indian goods imported into America from 50 per cent to 18 per cent.
Later that month, the American Supreme Court struck down Trump’s sweeping tariffs as illegal, which led his administration to announce a new levy of 10 per cent through a different legal route and then raise it to 15 per cent.
The POTUS called the court’s decision “terrible”.
The India-US trade deal was agreed upon after several rounds of negotiations between both sides.
A formal trade agreement between both sides is yet to be signed, with talks underway for a full pact.
India-Russia oil trade
In an inter-ministerial briefing, the Indian government shared details of crude oil supplies amid the West Asia crisis.
Petroleum and Natural Gas Joint Secretary Sujata Sharma said that the country’s crude oil supplies remain secure through diversified procurement, with the daily consumption at about 55 lakh barrels.
Through diversified procurement, the volumes that India has secured now exceed what would normally have arrived through the Strait of Hormuz, said Sharma at the joint press briefing.
Speaking about crude oil supplies, she said India imports crude from about 40 countries.
