Moscow: Amidst continuing retaliatory measures from the United States, Russia has extended a major offer to India by reducing the price of crude oil. The price per barrel will be lowered by up to four dollars. According to reports, India will purchase three hundred thousand barrels of crude oil daily this month.
This move by Russia comes after the US imposed a 50% import tariff on India for buying oil from Russia. US President Donald Trump had alleged that the money Russia earns from selling oil to countries like India is being used to fund the war in Ukraine.
US Vice President J.D. Vance also justified the US tariff increase against India, stating that the tariffs were announced to pressure Russia to end its war with Ukraine.
Meanwhile, US Treasury Secretary Scott Besant stated recently that issues with India regarding the tariffs could be resolved. He added that as a democratic nation, India is closer to the US than to Russia and China.
