Russia offer 5 % discount to Indian on oil imports amid Trump's tariffs

PTC News Desk: Russia has confirmed it will continue supplying oil to India at a 5% discount, despite mounting pressure and sanctions from the United States. Evgeniy Griva, Russia’s deputy trade representative to India, said, “There will be a 5 per cent discount, subject to negotiation, on Russian crude oil purchases to India.”

Griva added that, "Despite the political situation, approximately the same level of oil will be imported by India." He said, "As for discounts, it's a commercial secret. I think, because it's usually just dialogue between businessmen and approximately usually 5%. It's fluctuating, but usually it's plus-minus 5%."

Meanwhile, the US has accused India of indirectly financing Russia’s war in Ukraine through its oil purchases, and in response, imposed a 50% tariff on Indian goods. White House trade adviser Peter Navarro alleged that India was acting as a “global clearinghouse for Russian oil,” refining embargoed crude into high-value exports and providing Moscow with crucial dollar revenues.

India strongly denounced Washington’s decision as “unfair, unjustified and unreasonable,” warning that the tariffs would heavily impact sectors like textiles, marine products, and leather exports. Prime Minister Narendra Modi has asserted that New Delhi will not yield under external economic pressure.

On Tuesday, Karoline Leavitt stated that President Donald Trump imposed these tariffs on India as part of efforts to dissuade Russia from continuing its offensive in Ukraine.