India unfazed by Trump's secondary tariff threats: Hardeep Singh Puri on threat to Russian oil imports
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Petroleum and Natural Gas of India Hardeep Singh Puri on Thursday said India is unfazed by US sanction threats as oil markets remain well supplied, adding that the prices will come down.Puri said that India is currently buying crude oil from Argentina and will buy more from Brazil. The comments came while answering a question on US President Donald Trump's secondary tariffs threat at Urja Varta 2025 Trump, on Tuesday, had announced 100 per cent tariffs on Russian imports, including oil. Additionally, the US president also introduced equivalent secondary tariffs on countries importing from Russia, including on India. He wanred that the tariffs would be imposed if Russia did not arrive at a peace deal within 50 days. When asked about the secondary tariff warning, Puri said at the Thursday event that right now he does not have 'any pressure' in his mind.Indian oil refiners have been getting Russian oil at discounted rates since 2022, while while the West has moved away from Russia by imposing sanctions. Russia currently accounts for a third of India's oil imports, compared to less than 1 per cent before the war.A secondary tariff would affect Indian refiners with them having to switch to western countries for oil for a higher cost.
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