According to GTRI founder Ajay Srivastava, discounted Russian crude has played a key role in helping India keep inflation in check and maintain macroeconomic stability despite global turbulence.
“India must reject this pressure and stay firm on its Russia strategy. Buying discounted Russian oil has helped India manage inflation and maintain economic stability in a volatile global environment,” Srivastava said.
His remarks come amid reports that former US President Donald Trump has threatened to impose a 100 percent tariff on countries that continue to purchase Russian oil.
Srivastava cautioned that changing course under external pressure won’t help. “Altering that policy will not stop US threats and it will only invite more,” he said, noting that Trump has a pattern of issuing tariff threats for various reasons.
“Given this pattern, India sees no value in giving in to US pressure on Russian oil. It won’t resolve the larger issue of future unpredictable US demands. Even a trade deal with Washington won’t guarantee protection, as Trump could shift the goalposts later,” Srivastava added.GTRI’s comments underscore a growing sentiment in Indian policy circles: that strategic autonomy in energy policy is non-negotiable, even amid shifting geopolitical equations.With inputs from PTI
Content Source: economictimes.indiatimes.com