New Delhi, Aug. 8 -- India's crude oil import bill could significantly increase if the country stops importing crude oil from Russia, according to a report by State Bank of India (SBI).

If India halted oil imports from Russia for the rest of FY26, the fuel bill might increase by $9 billion in FY26 and $11.7 billion in FY27 due to the increase in prices, ANI reported, citing the SBI study.

This report comes amid the US imposing an additional 25% tariff on all Indian goods and penalties for India's purchases from Russia. US President Donald Trump has said there will be no trade negotiations with India until a dispute over tariffs is resolved.

The White House on Wednesday issued an Executive Order imposing an additional 25 percentage poin...