India will continue buying oil from wherever it gets the "best deal" and "take measures" to protect its national interest amid US tariffs, said India's Ambassador to Russia, Vinay Kumar, in an interview with TASS on Sunday.
Addressing the US decision to increase tariffs on Indian imports by 25 per cent, totalling 50 per cent, due to New Delhi's purchase of Russian oil, Kumar called the move "unfair, unreasonable and unjustified".
He emphasised that India's energy policy aims to secure reliable supplies for its citizens and that its cooperation with Russia and other countries has contributed to global oil market stability.
"First of all, we have clearly stated that our objective is energy security of 1.4 billion people of India and India's cooperation with Russia as of several other countries has helped to bring about stability in the oil market, global oil market. So the US decision is unfair, unreasonable and unjustified. Now government will continue taking measures which will protect the national interest of the country," the Ambassador said, as quoted by TASS.
"And the trade takes place on commercial basis. So if the basis of commercial transaction trade imports are right, Indian companies will continue buying from wherever they get the best deal. So that's what the current situation is," he added.
During the interview with the state news agency TASS, Kumar highlighted that India-Russia trade is driven by mutual interests and market factors and pointed out that other countries, including the US and European nations, also continue trading with Russia.
"Our trade is based on market factors and done with the overall object of ensuring the energy security of 1.4 billion people of India. There are other countries, including the US itself and in Europe, trading with Russia," he stated, as quoted by TASS.
India had earlier slammed US' decision to raise duties to over 50 per cent as a penalty for its purchase of Russian oil, with External Affairs Minister S Jaishankar on Saturday hitting out at W
Speaking at The Economic Times World Leaders Forum 2025, Jaishankar said India's priority was to protect farmers and small producers, stressing that New Delhi would not compromise on their interests.
On the financial front, Ambassador Kumar assured that India and Russia face no problems in payment for oil imports.
"India and Russia have a working system of trade settlement in national currencies. There is no problem now in payment for oil imports," Kumar stated, as quoted by TASS
Beyond energy, India is also keen to expand its exports to Russia, particularly in electronics, automobiles, and construction materials, the ambassador stated during the interview.
He noted that while bilateral trade is growing, India's exports to Russia remain below potential.
"Some of the important areas that we think we need to focus on and improve our exports are textiles and fashion products, construction materials, auto and automobile spare parts and components, also electronics and the entire set of electronics and IT-related products. Also phones. Many of the top manufacturers are also manufacturing in India. We look forward to an increase in those areas also," he said, as quoted by TASS.
Kumar also stressed the need to improve services trade, including financial and digital services.
"India's export to Russia has also grown. But it is still far below what it can be... Services are another important part in which we need to do better, including financial and digital services. And, of course, transportation and related infrastructure is yet another area that we need to improve," he added.
The remark made by Kumar came during a time when New Delhi is currently dealing with global economic concerns due to US President Donald Trump's imposition of an additional 25 per cent tariff on Indian goods due to its continued purchase of Russian oil.
The Ministry of External Affairs (MEA) has called the imposition "unfair, unjustified and unreasonable" and declared that New Delhi will take "all actions necessary to protect its national interests."
Source Name : Economic Times