The record
Written from the 1 report below. Nothing here is unsourced.
- US President Donald Trump recently signed a bill authorizing 100% tariffs on nations that buy significant amounts of Russian oil and gas.
- Experts suggest this move could be used as leverage to force India into accepting more favorable trade terms.
- India currently relies on Russia for nearly half of its crude oil imports and maintains that these purchases are vital to national energy security.
- Previous diplomatic precedents suggest the two nations may find a way to negotiate exemptions to avoid a major breakdown in relations.
What to watch next
- Potential US imposition of tariffs under the new sanctions authority
- Future bilateral negotiations between India and the US regarding trade concessions
- India's continued reliance on Russian crude oil imports
Who said what3
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Rajoshri Roy
Research Fellow
3 quotes · 1 outlet
“There is a lot of speculation that perhaps this would give the US leverage vis-à-vis India to push through a trade deal. A 100% tariff on India vis-à-vis any trade with the US makes trade with the United States unsustainable for India,”
In the article
…could give Washington leverage in trade negotiations with India and put pressure on broader India-US ties, according to Rajoshri Roy, Research Fellow at the Manohar Parrikar Institute for Defence Studies and Analyses. “ There is a lot of speculation that perhaps this would give the US leverage vis-à-vis India to push through a trade deal. A 100% tariff on India vis-à-vis any trade with the US makes trade with the United States unsustainable for India, ” Roy said. “It could be a factor in terms of using that as leverage to push through a trade deal and perhaps seek more concessions from India, which hasn’t been really forthcoming in the past,” he added. US President…
“As far as India drawing down its oil supplies from Russia is concerned, that is unlikely to happen. If you stop buying Russian oil, which meets 50% of our oil imports, where do we get that 50% oil from?”
In the article
…of up to 100% on major purchasers of Russian oil and gas. Roy said India is unlikely to significantly reduce its purchases of Russian crude, given the importance of those supplies to the country's energy security. “ As far as India drawing down its oil supplies from Russia is concerned, that is unlikely to happen. If you stop buying Russian oil, which meets 50% of our oil imports, where do we get that 50% oil from? ” Roy said. “The world without West Asian oil, without Russian oil, you are looking at an explosion in prices and a scarcity.” Roy said imposing 100% tariffs on India could have consequences for the future of India-US…
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Named United States · India · Russia · Ukraine · Bhanu Pratap · Donald Trump · Manohar Parrikar Institute for Defence Studies and Analyses · Rajoshri Roy
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