FX.co ★ India Defends Russian Oil Imports Amid U.S. Tariff Threat

India has firmly responded to criticism from the United States and the European Union regarding its importation of Russian oil, describing the objections as "unjustified and unreasonable." On Monday, Randhir Jaiswal, spokesperson for the Foreign Ministry, emphasized that these imports are essential to ensuring affordable and stable fuel prices for Indian consumers. This statement came after then-U.S. President Donald Trump threatened to impose significant tariffs on India over its trade in Russian oil. Jaiswal pointed out the hypocrisy of such criticism, stating, "The very nations critiquing India are themselves engaged in trade with Russia," and that unlike India, their trade isn't motivated by indispensable national requirements. He further explained that India turned to Russian oil following the disruptions in traditional supply chains caused by the Ukraine conflict, as many suppliers redirected their focus toward Europe. Jaiswal also mentioned, "At that time, the United States had even encouraged India's purchases as a means to stabilize global energy markets."