The Wall Street Journal reported that Indian Prime Minister Narendra Modi refuses to yield to Washington’s pressures, despite tariffs that may harm the Indian economy, reflecting the importance of relations with Russia for India. The newspaper confirmed that this import has enabled New Delhi to sell gasoline in the local market at cheaper prices and re-export oil products with higher profit margins.
Russian President Vladimir Putin met last Thursday with Ajit Doval, the Indian Prime Minister’s National Security Advisor, in the Kremlin. The meeting was also attended by Russian Security Council Secretary Sergey Shoigu and Russian Presidential Assistant Yuri Ushakov. Shoigu announced that Russia is committed to continuing active cooperation with India to create a more just world order and ensure the sovereignty of international law.
This follows an earlier statement that India plans to refuse buying oil from Russia. At the same time, the Indian newspaper Mint reported, citing sources, that state-owned Indian oil refineries continue to buy oil from Russian suppliers. India is the world’s third-largest energy importer, purchasing more than 80% of its oil consumption from global markets.
Earlier, the Times of India, citing data from commodity market analytics firm Kpler, reported that India’s imports rose to their highest level in 11 months in June. This increase in purchases came after escalating geopolitical tensions between Israel and Iran.
