Ajay Srivastava, Founder, Global Trade Research Initiative.
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Decisions on crude oil imports should be guided by India's economic interests, energy security and strategic autonomy, rather than the threat of additional US tariffs, think tank GTRI said on Wednesday.Commenting on the development that the US Senate voted to advance a Russia sanctions bill that could authorise US President Donald Trump to impose tariffs of up to 100 per cent on countries buying Russian oil, including India, it said that as long as Russian crude remains commercially viable, New Delhi should continue sourcing it while managing differences with Washington through dialogue and negotiation rather than making unilateral concessions under pressure.Washington is steadily expanding its use of trade and economic measures to pursue strategic objectives, Global Trade Research Initiative (GTRI) said."India should avoid recalibrating its policies in response to every new US action. Decisions on crude oil imports must be driven by India's economic interests, energy security, and strategic autonomy, not by the threat of additional US tariffs," GTRI founder Ajay Srivastava said.Although China is the world's largest buyer of Russian crude oil, India could face greater pressure under the proposed legislation, he said.As per the think tank, Russia supplied 30.3 per cent of India's crude oil imports in FY26 worth USD 40.8 billion out of total crude imports of USD 134.7 billion, making it India's largest oil supplier."Access to discounted Russian crude has significantly lowered India's import bill, supported energy security, and helped contain inflation," he said.Published on July 30, 2026
