Relief for India as Trump Waives 100% Tariff on Russian Oil Buyers

US President Donald Trump has announced relief for India from tariffs. He has also announced the waiving of several sanctions linked to Russia.

Trump was due to take several strict steps under this law. Countries buying oil and gas from Russia would have faced tariffs of up to 100 per cent. This would have caused considerable economic loss to countries trading with Russia.

What Indian ambassador Vinay Kumar said on Russian oil purchases

India's Ambassador to Russia, Vinay Kumar, has said energy security remains India's top priority despite criticism from Western countries and US sanctions. He said ensuring energy supplies for 1.4 billion people is the country's biggest priority.

Asked about US sanctions and comments from European countries, the ambassador said Europe has imported more than $320 billion of energy resources from Russia since 2022. He said this is far more than the trade between India and Russia.

Vinay Kumar said India's energy purchase policy is guided by the interests of its people. He said the policy and practice are clear: to ensure energy security for India's 1.4 billion people, keep diverse sources and secure predictable supplies of these products at the most competitive prices.

Since the Ukraine-Russia conflict began, the West (Europe and the US) has been keeping a close watch on India-Russia trade.

India in talks on FTA with Eurasian Economic Union

The ambassador said India is negotiating a free trade agreement (FTA) with the Eurasian Economic Union (EAEU) to increase exports to Russia and other member countries. He said trade between India and Russia will reach $100 billion by 2030.

Speaking to ANI, Vinay Kumar said trade between the two countries was $38 billion in the first six months of 2026. He said both countries are trying to add new products to the trade.

He said India is working with Russian officials to remove standards-related and non-tariff barriers faced by Indian exporters, especially in the agriculture and marine products sectors.

US to import Russian diesel

It was reported in recent days that the US is going to buy diesel from Russia. President Vladimir Putin announced the agreement after talks.

Under the deal, the US will initially import more than 3 lakh tonnes of diesel from Russia. A consignment of 5 lakh tonnes is fixed for November, followed soon after by 10 lakh tonnes. A further 30 lakh tonnes of diesel will be sent if the refineries are in good condition.

The US Treasury's Office of Foreign Assets Control (OFAC) has also issued a temporary permission for importing Russian diesel until 7 April 2027.

The decision comes at a time when diesel prices in the US have reached a record level of about $6.5 per gallon.

The news matters for India because Washington has long threatened India with tariffs and sanctions for buying Russian oil. A recently passed law also opens the way for tariffs of up to 100 per cent on such countries.

India has said from the start that its energy decisions are based on national interest and affordable supplies.