India Expects Withdrawal of Trump-Era Penal Tariff on Russian Oil Trade

Chief Economic Adviser V. Anantha Nageswaran has indicated that the United States may soon withdraw the Trump-era penal tariffs impacting India’s trade in Russian oil. Speaking on Friday, Nageswaran noted that India continues to engage diplomatically to ease trade restrictions that emerged during the Trump administration. The penal tariffs, introduced to discourage trade ties between India and Russia, have been a point of contention for Indian energy and trade policy. With global oil markets already volatile, any easing of trade barriers is expected to benefit India’s crude import costs and stabilize domestic energy prices. Nageswaran highlighted that India’s steady diplomatic outreach with Washington has been instrumental in reaching this stage. He added that the possible removal of tariffs reflects improved strategic understanding between India and the United States, even amid complex geopolitical tensions involving Russia. Market analysts believe the move would strengthen India’s energy security and reduce procurement costs for refiners. It may also help India maintain a balanced stance in its energy diplomacy with both Russia and the United States, as New Delhi continues to diversify its crude sources to ensure economic stability. - MarketForesee Research Desk --------------------------------------------------------------------------------------------------------------------- INDIA RUSSIA OIL TRADE | TRUMP PENAL TARIFF | US INDIA TRADE RELATIONS | ANANTHA NAGESWARAN | ENERGY SECURITY | CRUDE OIL IMPORTS | US INDIA DIPLOMACY | INDIAN ECONOMY | RUSSIAN OIL IMPORTS | TRADE TARIFF WITHDRAWAL