No Putin Oil? Bad News, For Trump – The Times of India
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No Putin Oil? Bad News, For Trump
If India stops buying Russian energy, it won’t lose much because the price advantage per barrel vis-à-vis Brent is down to two dollars or so. But were India & China to stop buying from Russia, global oil prices will likely jump.
Neelkanth Mishra
Aug 1, 2025, 20:33 IST IST
If India stops buying Russian energy, it won’t lose much because the price advantage per barrel vis-à-vis Brent is down to two dollars or so. But were India & China to stop buying from Russia, global oil prices will likely jump, hurting everyone, US consumers included
The White House executive order amending import tariffs ends a period of significant global economic uncertainty. The 25% duties on imports from India are likely to hurt, especially as they are higher than for peers. However, the impact on India’s economy is likely to be much lower than the rise in duties paid by Indian exporters, as most of the tariff burden so far has been borne by US importers and consumers.
But the US threat to penalise India for buying Russian oil and armaments, which is yet to be announced, is a separate matter. Can this put India at a significant disadvantage? Not really.