India's economy is unlikely to face a major shock even if the US increases pressure on countries buying Russian oil, according to Anindya Banerjee, head of commodity and currency research at Kotak Securities. He said the country can manage a shift away from Russian crude without putting significant pressure on inflation, fiscal deficits or overall economic stability.

On August 5, 2025, US President Donald Trump announced 25% penal tariffs on India for its purchase of crude oil from Russia. One year later, India faces the prospect of up to 100%…

India, China, Slovakia, Hungary and Azerbaijan will face tariffs as the bill aims to increase economic pressure on Moscow over its invasion of Ukraine. | India News