In his speech at the Munich Security Conference, Jaishankar noted that oil companies in India, like their counterparts in Europe and other regions, make decisions based on the availability of resources, their cost, and associated risks. He added that many market players are reviewing their strategies in light of new global realities.
On February 14, U.S. Secretary of State Marco Rubio reported that India had agreed to completely stop purchasing oil from Russia. Earlier, U.S. President Donald Trump also claimed that India had notified the U.S. of its intention to refuse Russian oil. In response, the U.S. offered to reduce tariffs on Indian goods from 25% to 18%. However, the Kremlin emphasized that no official notifications had been received from India regarding the cessation of imports of Russian raw materials.
