Russia expects India to keep buying its oil and seeks China-India-Russia talks
US President Donald Trump has announced an additional tariff of 25 percent on Indian goods exported to the US from August 27, as a punishment for buying Russian oil, which constitutes 35 percent of India's total imports compared with a negligible 0.2 percent before the Ukraine war.
'I want to highlight that despite the political situation, we can predict that the same level of oil import (by India),' Roman Babushkin, the charge d'affaires at the Russian embassy in India, told a press briefing.
He predicted India and Russia would find ways to overcome Trump's latest tariffs in their 'national interests.'
Trade talks between India and the US broke down over the opening up of India's vast farm and dairy sectors, as well as its purchases of Russian oil. The total tariff announced on Indian goods entering the US is 50 percent.
The Indian foreign ministry did not immediately reply to an emailed request for comment.
It has previously said the US decision to single out India for Russian purchases was 'extremely unfortunate.'
Russia's Deputy Trade Commissioner Evgeny Griva on Wednesday said buying oil from Russia is 'very profitable' for India, which will not want to change its supplier.
On average Russia gives a 5-7 percent discount to Indian buyers, he said, adding that Russia has a 'very, very special mechanism' to continue oil supplies to India. In addition, he said Russia had started accepting Indian rupee payments for its goods after the resolution of issues that had trapped billions of dollars worth of funds in Indian banks.
'Greater Eurasian partnership'
As tensions between Washington and New Delhi rise, high-profile visits from New Delhi and Beijing in recent weeks have raised hopes on the part of the Asian neighbors that ties damaged by a 2020 border clash can be repaired. Indian Prime Minister Narendra Modi plans to visit China for the first time in over seven years later this month.
The planned visit was reported by Reuters last week, even as other high profile exchanges, including Chinese Foreign Minister Wang Yi's two-day visit to New Delhi, concluded.
At the same time, Russia is trying to revive long-standing plans for a trilateral meeting with India and China to help them forge a 'greater Eurasian partnership.'
'As far as the trilateral is concerned, we are quite hopeful that this format will be resumed sooner rather than later because its importance is not questioned,' Babushkin said.
'This is closely linked to the Russian initiative of the establishment of the greater Eurasian partnership,' Babushkin said.
Russian President Vladimir Putin will meet Modi in New Delhi by the end of year, he said. Putin, Modi and Chinese President Xi Jinping are also expected to all attend the Shanghai Cooperation Organisation starting August 31.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
an hour ago
- Al Arabiya
Jeffrey Epstein grand jury records to remain sealed, judge rules
A US judge denied on Wednesday the Justice Department's bid to unseal records from the grand jury that indicted the late financier Jeffrey Epstein on sex trafficking charges. Manhattan-based US District Judge Richard Berman's decision came as President Donald Trump tries to quell discontent from his conservative base of supporters over his administration's handling of the case. Trump, a Republican, had promised to make public Epstein-related files if reelected and accused Democrats of covering up the truth. But in July, the Justice Department declined to release any more material from its investigation of the case and said a previously touted Epstein client list did not exist, angering Trump's supporters. Evidence seen and heard by grand juries, which operate behind closed doors to prevent interference in criminal investigations, cannot be released without a judge's approval. Trump in July instructed Attorney General Pam Bondi to seek court approval for the release of grand jury material from Epstein's case. The grand jury that indicted Epstein heard from just one witness, an agent with the Federal Bureau of Investigations, the Justice Department said in a court filing in July. Epstein died by suicide in 2019 while awaiting trial on sex-trafficking charges. He had pleaded not guilty. His death in jail and his friendships with the wealthy and powerful sparked conspiracy theories that other prominent people were involved in his alleged crimes and that he was murdered. The New York City chief medical examiner determined that Epstein's death was a suicide by hanging. On Aug. 11, a different Manhattan-based judge, Paul Engelmayer, denied a similar request by the Justice Department to unseal grand jury testimony and exhibits from the case of Ghislaine Maxwell, Epstein's longtime girlfriend. Maxwell is serving a 20-year prison sentence following her 2021 conviction for recruiting underage girls for Epstein to abuse. Engelmayer wrote that the public would not learn anything new from the release of materials from Maxwell's grand jury because much of the evidence was made public at her monthlong trial four years ago. The grand jury testimony contained no evidence of others besides Epstein and Maxwell who had sexual contact with minors, Engelmayer wrote. Maxwell had pleaded not guilty. After losing an appeal, she has asked the US Supreme Court to review her case. In July, a Florida judge rejected the administration's request to unseal grand jury records from federal investigations there into Epstein in 2005 and 2007. Epstein served a 13-month sentence after pleading guilty in 2008 to a state-level prostitution charge as part of a deal now widely regarded as too lenient.
Al Arabiya
an hour ago
- Al Arabiya
India test-fires ballistic missile ahead of US tariff hike
India on Wednesday test-fired an intermediate-range ballistic missile capable of carrying multiple nuclear warheads, a government statement said, in an apparent show of strength ahead of a threatened US tariff increase. The Agni-5 missile was successfully launched in India's eastern Odisha state, with authorities saying it 'validated all operational and technical parameters.' The test-fire came a week before US tariffs are set to double from 25 percent to 50 percent, unless India meets President Donald Trump's demand that it stop buying Russian oil. India last tested the Agni-5 missile in March 2024. Prime Minister Narendra Modi said this month that, in the face of US tariffs, India was seeking self-reliance with energy independence and the development of its own defense systems. New Delhi has deepened defense cooperation with Western countries in recent years, including in the Quad alliance with the United States, Japan and Australia as an apparent counter to rival China. But India's relations with China have warmed recently with several bilateral visits, and Modi is scheduled to visit Tianjin later this month in his first visit to the country since 2018. Agni, meaning 'fire' in Sanskrit, is the name given to a series of rockets India developed as part of a guided missile development project launched in 1983. The Agni-5 employs technology that enables it to carry several nuclear warheads, so they can split up and hit different targets.
Arab News
3 hours ago
- Arab News
US targets more ICC judges including over Israel
WASHINGTON: The United States on Wednesday imposed sanctions on four more International Criminal Court judges or prosecutors, including from allies France and Canada, in a new effort to hobble the tribunal particularly over actions against Israel. 'The Court is a national security threat that has been an instrument for lawfare against the United States and our close ally Israel,' Secretary of State Marco Rubio said in a statement, using a term popular with President Donald Trump's supporters. Rubio said that the four people targeted from the tribunal based in The Hague had sought to investigate or prosecute nationals from the United States or Israel 'without the consent of either nation.' The four include Judge Nicolas Guillou of France, who is presiding over a case in which an arrest warrant was issued for Israeli Prime Minister Benjamin Netanyahu. The case was brought forward by the State of Palestine, which is not recognized by Washington but, unlike Israel or the United States, has acceded to the statute that set up the tribunal in The Hague. Guillou, a veteran jurist, had worked for several years in the United States assisting the Justice Department with judicial cooperation during Barack Obama's presidency. Also targeted in the latest US sanctions was a Canadian judge, Kimberly Prost, who was involved in a case that authorized an investigation into alleged crimes committed during the war in Afghanistan, including by US forces. Under the sanctions, the United States will bar entry of the ICC judges to the United States and block any property they have in the world's largest economy — measures more often taken against US adversaries than individuals from close allies. Rubio also slapped sanctions on two deputy prosecutors — Nazhat Shameem Khan of Fiji and Mame Mandiaye Niang of Senegal. The State Department said the two were punished by the United States for supporting 'illegitimate ICC actions against Israel,' including by supporting the arrest warrants against Netanyahu and former defense minister Yoav Gallant. The Trump administration has roundly rejected the authority of the court, which is backed by almost all European democracies and was set up as a court of last resort when national systems do not allow for justice. Trump on Friday welcomed Russian President Vladimir Putin to Alaska even though Putin faces an ICC arrest warrant, a factor that has stopped him from traveling more widely since he ordered the invasion of Ukraine. Rubio slapped sanctions on four other ICC judges in June.
