India's Strategic Oil Choices: Resisting US Pressure on Russian Imports
India should continue purchasing oil from Russia despite US pressure. The Global Trade Research Initiative emphasizes that buying discounted oil aids in controlling inflation and stabilizing the economy. Succumbing to US demands won't ensure protection, as unpredictable policy shifts are common, warns GTRI Founder Ajay Srivastava.
- Country:
- India
India is urged to maintain its oil imports from Russia, resisting external pressure from the United States, which has been pivotal in managing inflation and economic stability amid global uncertainty, according to the economic think tank Global Trade Research Initiative (GTRI).
US President Donald Trump has issued threats to impose 100 percent tariffs on nations that purchase Russian oil, placing India in a challenging position. GTRI Founder Ajay Srivastava asserts that maintaining the course with Russia is crucial for India's economic strategy.
Srivastava highlights that yielding to US demands would not mitigate future threats from Washington, as such actions are part of a broader pattern of unpredictability, and even trade agreements may not offer complete protection from policy changes.
(With inputs from agencies.)
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