EU, UK hit Russia with new sanctions
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Amidst Trump's threat of secondary tariffs on countries trading with Russia, will India's crude oil supply face uncertainty? Russia has become India's
EU sanctions aim to weaken Russia’s war economy with oil price caps, ship bans, and finance curbs—without disrupting global supply, says EU envoy to India.
India is confident of meeting its oil needs from alternative sources if Russian supplies are hit by secondary sanctions, Oil Minister Hardeep Singh Puri said on Thursday. Earlier this week, U.S. President Donald Trump warned that countries purchasing Russian exports could face sanctions if Moscow fails to reach a peace agreement with Ukraine within 50 days.
Union minister Hardeep Singh Puri said India should be able to deal with any problems with Russian imports by seeking supplies from other countries.
India has found itself at the centre of a growing geopolitical clash, as fresh EU sanctions targeting a Russian-linked refinery in Gujarat spark concerns over energy autonomy and rising global pressure.
U.S. President Donald Trump threatened to hit buyers of Russian exports with sanctions unless Russia agrees a peace deal over the conflict in Ukraine, potentially complicating Moscow's oil sales to China,
US President Donald Trump is trying again to end the war in Ukraine – not by targeting Russia, but by hitting the countries that buy Russia’s oil.
With Russian oil banned in the United States and Europe now proposing an embargo of its own, India can buy the crude at substantial discounts, powering its energy-thirsty economy at a lower cost.
India's oil imports from Russia rose marginally in the first half of this year, with private refiners Reliance Industries Ltd and Nayara Energy making almost half of the overall purchases from Moscow,