Strategic Alliances Amid Tariff Tensions: India and Russia's Energy Cooperation
Russia's 'special mechanism' counters US tariffs imposed on India for purchasing Russian crude oil. Diplomat Roman Babushkin highlights strong India-Russia ties, expecting continued cooperation despite pressure. Russia's share in India's oil imports increased significantly, underscoring mutual economic interests at play amid global instability.
- Country:
- India
Russia has developed a 'special mechanism' to tackle challenges posed by US sanctions on India's import of Russian crude oil. Russian charge d'affaires, Roman Babushkin, highlighted the enduring partnership between India and Russia, emphasizing cooperation in military and energy sectors.
The US has increased tariffs on Indian goods in response to India's procurement of Russian oil, straining India-US relations. Despite this, Russia continues to be a major oil supplier to India, which seeks Russian oil for its national interest.
Babushkin noted that US pressure is unlikely to deter India-Russia energy cooperation, which is vital for economic stability. Both nations aim to enhance bilateral trade, with Russia ready to support India's export market.
(With inputs from agencies.)
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