India Will 'Undoubtedly Be Buying Russian Oil', Says Indian Finance Minister Sitharaman Amid U.S. Tariff Spat

India will continue purchasing oil from Russia based on its own national interest and economic calculus, Finance Minister Nirmala Sitharaman said on Friday, in a pointed response to escalating criticism from the United States over India’s energy ties with Moscow.

Image Source: PM NaMo

Speaking in an interview with Network18, Sitharaman stated clearly: “Whether it is Russian oil or anything else, we will take a call based on what suits our needs in terms of rates, logistics or whatever. Where we buy our oil from, especially it being a big-ticket foreign exchange-related item, is a call we will take based on what suits us best. So, we will undoubtedly be buying Russian oil."

The remarks come at a time when trade relations between India and the U.S. have become increasingly strained. 

Last month, the U.S. administration doubled tariffs on Indian exports to 50%, citing India’s continued purchase of discounted Russian crude as one of the triggers.

The criticism has been most vocal from Donald Trump’s inner circle. Peter Navarro, a senior Trump aide and former trade adviser, accused Indian refineries of acting as intermediaries for the Kremlin. 

“India is nothing but a laundromat for the Kremlin,” Navarro said in a recent statement, referring to the practice of refining cheap Russian crude and exporting the processed products abroad.

President Trump himself escalated the rhetoric on Friday with a post on Truth Social, where he accused the U.S. foreign policy establishment of having “lost” both India and Russia to what he called “deepest, darkest China.” 

Trump also shared an image from the Shanghai Cooperation Organisation (SCO) Summit in Tianjin, showing Prime Minister Narendra Modi alongside Russian President Vladimir Putin and Chinese President Xi Jinping--a visual that has been widely interpreted in Washington as a geopolitical signal.

Despite the criticism, India has defended its oil purchases as an exercise in economic sovereignty. Analysts estimate that New Delhi saved over $17 billion in 2022 alone by sourcing discounted Russian oil, according to data cited by Reuters. 

Some independent assessments suggest those savings could be as high as $26 billion.

Indian officials have maintained that the energy trade with Russia is legal, transparent, and aligned with global market practices. 

External Affairs Minister S. Jaishankar previously noted that other nations, including EU members, continue to import Russian energy in different forms.

Sitharaman’s remarks underscore a consistent line from New Delhi: that India’s energy security and economic imperatives will not be dictated by the political preferences of other capitals.