 "India should continue buying Russian oil; must reject US pressure: GTRI")
India should resist the US pressure to stop purchasing oil from Russia and continue buying the commodity from Moscow as it has helped India manage inflation and maintain economic stability in a volatile global environment, economic think tank GTRI said on Thursday.
US President Donald Trump has threatened to impose a 100 per cent tariffs on Russian oil buyers.
"India must reject this pressure and stay firm on its Russia strategy. Buying discounted Russian oil has helped India manage inflation and maintain economic stability in a volatile global environment," the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said.
Altering that policy will not stop US threats and it will only invite more, he said, adding this isn't an isolated demand, Trump regularly issues tariff threats for various reasons.
"Given this pattern, India sees no value in giving in to US pressure on Russian oil. It won't resolve the larger issue of future unpredictable US demands. Even a trade deal with Washington won't guarantee protection, as Trump could shift the goalposts later," Srivastava said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)