Reuters : India’s savings from Russian oil are wiped out by US tariffs
Its a fake news, Here is the truth (Thread)
It misreads India’s sovereign rise as an economic power and assumes Western sanctions can dictate global energy trade
India has shown it charts its own path
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Its a fake news, Here is the truth (Thread)
It misreads India’s sovereign rise as an economic power and assumes Western sanctions can dictate global energy trade
India has shown it charts its own path
1/8
India’s oil diplomacy is saving billions.
Since 2022, discounted Russian crude has saved India over $25 billion in foreign exchange.
Average crude import cost fell from $93.15 to $82.58 per barrel, translating into ₹1.64 lakh crore in savings.
Petrol prices were cut twice Rs 8 in 2022 and Rs 2 in 2024 ,down 10% in just two years.
Since 2022, discounted Russian crude has saved India over $25 billion in foreign exchange.
Average crude import cost fell from $93.15 to $82.58 per barrel, translating into ₹1.64 lakh crore in savings.
Petrol prices were cut twice Rs 8 in 2022 and Rs 2 in 2024 ,down 10% in just two years.
Far from hurting the world, India’s Russian oil imports stabilized it. By ensuring affordable supplies, India prevented a global price spiral that would have severely hurt even Western economies.
Ironically, it was the US itself that encouraged India to buy Russian oil
Ironically, it was the US itself that encouraged India to buy Russian oil
to keep global markets steady.
The tariff wipes out savings narrative collapses under facts. Nearly 45% of Indian exports lie outside the US tariff net. Core sectors like electronics, pharma, auto components, and services worth $28.7 billion are untouched.
The tariff wipes out savings narrative collapses under facts. Nearly 45% of Indian exports lie outside the US tariff net. Core sectors like electronics, pharma, auto components, and services worth $28.7 billion are untouched.
At the same time, India is diversifying aggressively fast-tracking FTAs with the UK, EU, EFTA, Australia, and African partners;
Modi Govt is also rolling out Rs 25,000 crore export-promotion schemes. This multipronged strategy ensures any US tariff impact remains limited and short-lived.
Modi Govt is also rolling out Rs 25,000 crore export-promotion schemes. This multipronged strategy ensures any US tariff impact remains limited and short-lived.
The US sanctions-first strategy is not new
Iran in 2018
Venezuela in 2019
Myanmar in 2021
Russia since 2022
The pattern is clear
Washington repeatedly targets major oil producers, reshaping trade to its advantage, while expecting others to sacrifice their own energy security.
Iran in 2018
Venezuela in 2019
Myanmar in 2021
Russia since 2022
The pattern is clear
Washington repeatedly targets major oil producers, reshaping trade to its advantage, while expecting others to sacrifice their own energy security.
But the hypocrisy runs deeper. Even as the US and Europe cap Russian oil and sanction others, they quietly continue buying cheap Russian gas through intermediaries.
Demanding that India cut lifelines while they fill their reserves exposes the double standard.
India will not mortgage its strategic autonomy for someone else’s geopolitical playbook.
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India will not mortgage its strategic autonomy for someone else’s geopolitical playbook.
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