"India 'Well Insulated' Against US Tariffs On Russian Crude: Payment Channels Key
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US tariffs may not be India's biggest challenge when it comes to Russian oil imports, experts say.
An expert cited in the report noted that India is well insulated against potential US tariffs on Russian crude. New Delhi has already strengthened non-dollar payment channels with Russia, which helps mitigate risks from such trade measures.While Washington has threatened tariffs to pressure countries buying Russian oil, India's diversified payment systems reduce its direct exposure.
The expert added that global oil price shocks could pose a greater threat to India than the need to change suppliers. A sharp spike in crude prices globally would hit India’s import bill and inflation harder than any shift away from Russian oil.India remains one of the largest buyers of discounted Russian crude since 2022, and continues to balance energy security with geopolitical pressures.
#India #Economy #Oil #Trade #Energy
