After 50% tariff’s on Indian goods by the US in August 2025 for not complying with the western countries in importing Russian oil, US President Donald Jr Trump claim India P.M Narendra Modi had privately agreed to end those purchase within a short period of time. India is the 3rd largest oil importer of Russian crude oil import after Russia-Ukraine war broke out. The import soared from 4 million tones in 21-22 to 87 million tones in 24-25. Top India crude buyer of cheap Russian oil is a privately -owned Reliance industries the India’s largest refinery complex in Jamnagar, Gujarat.
“If India were to halt Russian purchases, global oil prices could rise, wiping out those savings and adding even more to import costs – not just for India, but worldwide. In effect, buying discounted Russian crude has helped Delhi cushion its economy while quietly stabilizing global prices” The increase in imports from Russia has been accompanied by a decrease in imports from many countries, some of whom saw a drastic fall in their exports to India” says Mr Mukhopadhyay.
Can India repeat the history of balancing act once again. During the era of cold war as ,India is caught up once again in a tight rope balancing between an old ally Moscow and mounting pressure from Washington. The choice between short term gains or long term cost that could define the country economy.