Santanu BasuNew Delhi, Jan. 2 -- : Despite the United States imposing a punitive 50 per cent tariff on Indian goods since August for India's continued import of Russian crude oil, India has firmly demonstrated its strategic resolve and continued with the imports.
By tacitly rejecting US pressure to halt Russian oil purchases, India has sought to avert annual economic losses estimated between Rs. 78,000 crore and Rs. 98,000 crore by continuing with the imports. India therefore considers Russia a dependable and strategic supply partner, as no other country can afford to supply crude oil at prices comparable to Russia's.
Former US President Donald Trump had strongly warned India against importing Russian oil, arguing that Indian payments and...