US Claims India “Geared Down” Russian Oil Purchases Post-Trump Tariff
US Treasury Secretary Janet Yellen has stated that India has reduced its purchases of Russian oil following former President Donald Trump’s announcement of a 25% tariff on all imports. The claim was made during a Bloomberg News interview, highlighting ongoing US efforts to curb global reliance on Russian energy.
Key Details of the Claim
Yellen identified India as one of the nations that has “geared down” its Russian oil imports. She emphasized that the US has been actively collaborating with India and other countries to achieve this shift, part of a broader strategy to squeeze Russia’s energy revenues after its invasion of Ukraine.
“I think India has, in fact, geared down its purchases of Russian oil,” Yellen said. “And we’ve been working with India and other countries to try to reduce their reliance on Russian energy.”
India’s Shifting Oil Imports
India emerged as a major buyer of discounted Russian oil after the Ukraine war began. However, recent data indicates a significant decline.
- According to Vortexa, India’s Russian crude imports hit a 10-month low in August.
- Imports fell to 1.57 million barrels per day, down from 1.9 million in July.
Unclear Link to Trump’s Tariff
The direct cause of the decline remains uncertain. While Trump announced the sweeping 25% tariff in March, its implementation timeline is unclear. It is not confirmed if India’s reduced imports are a direct response to this policy.
India’s Official Stance
New Delhi has not officially responded to Yellen’s comments. Historically, Indian officials have maintained that the country will source oil based on the best available price and energy security needs, suggesting a pragmatic approach to imports.
