Trump hints rise in tariffs on India over Russia oil
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Reliance Industries said on Tuesday it is not expecting any Russian crude oil deliveries in January, a move that could sharply cut India's Russian oil imports during the month to the lowest in years.
The Russian crude imports into India are expected to fall to around 1.2 million barrels per day (bpd) in December, down from 1.84 million bpd in November, marking the lowest level since December 2022,
"We want timely and accurate data on Russian and US oil imports so that, when the US asks for information, we can provide verified figures instead of them relying on secondary sources," said one of the sources,
Reliance Industries said on Tuesday it is not expecting any Russian crude oil deliveries in January and has not received such cargoes in the past three weeks. The private refiner, which used to be India's largest buyer of Russian oil,
Recruitment companies handling overseas placements say hiring by Russian firms has risen steadily over the past few years.
Russian spirits exports to India have surged nearly fourfold this year, led by vodka. While oil dominates their trade relationship, both countries are now aiming to diversify — targeting $100 billion in total trade by 2030.
This comes a day after United States President Donald Trump issued fresh warning to India to cut its imports of Russian oil or face further hike in tariffs.
In 2025, India and Russia advanced their economic partnership beyond traditional sectors like defense and energy. During President Putin's visit to India, they established a five-year roadmap addressing trade deficits and explored joint ventures.