Cutting Off Russian Oil for India is a Risky Game ...Middle East

Today, an additional 25% tariff on all Indian exports to the United States should come into effect, making the total tariff owed by importers of Indian goods around 50%. The additional tariff aims to discourage Indian energy importers from buying Russian oil. And it could hurt the U.S. economy—although U.S. oil producers would welcome the price change. Russia has emerged as the largest single supplier of crude oil to India, which imports some 85% of the oil it consumes. Because of that, it is quite partial to a good bargain. Russian crude…

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