India - Russia trade relationship 
Business

India should continue buying Russian oil; must reject US pressure: GTRI

India should resist the US pressure to stop purchasing oil from Russia and continue buying the commodity from Moscow as it has helped India manage inflation and maintain economic stability in a volatile global environment, economic think tank GTRI

New Delhi | India should resist the US pressure to stop purchasing oil from Russia and continue buying the commodity from Moscow as it has helped India manage inflation and maintain economic stability in a volatile global environment, economic think tank GTRI said on Thursday.

US President Donald Trump has threatened to impose a 100 per cent tariffs on Russian oil buyers.

"India must reject this pressure and stay firm on its Russia strategy. Buying discounted Russian oil has helped India manage inflation and maintain economic stability in a volatile global environment," the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said.

Altering that policy will not stop US threats and it will only invite more, he said, adding this isn't an isolated demand, Trump regularly issues tariff threats for various reasons.

"Given this pattern, India sees no value in giving in to US pressure on Russian oil. It won't resolve the larger issue of future unpredictable US demands. Even a trade deal with Washington won't guarantee protection, as Trump could shift the goalposts later," Srivastava said.

Major fire breaks out at SCB Medical College Hospital ICU in Odisha's Cuttack; 10 patients dead

Paul Thomas Anderson wins best director at Academy Awards, ''Sinners'' makes history

Paul Thomas Anderson and Ryan Coogler each win their first Oscars at 98th Academy Awards

EC announces polls schedule: Single phase in Assam, Kerala, Puducherry, TN; 2 phases in Bengal

Gulf Arab states intercept new missiles, drones as Iran threatens to widen war