I honestly find this whole situation quite ironic.
For months, Trump accused India of indirectly funding Russia’s war against Ukraine by buying its crude oil. We were threatened with tariffs, lectured about our choices, and made to look like we were doing something wrong.
And now, when fuel prices are hurting American consumers, Trump is turning to Putin for Russian diesel. Suddenly, buying Russian energy is a practical solution.
And this is why exactly we as a country were doing great getting cheaper crude from Russia.India imports over 85% of its crude oil requirements. We cannot simply ignore cheaper oil because another country has a problem with the seller. For us, this isn’t just about politics, it’s about energy security and the cost of running an entire economy.
There is a bigger macroeconomic angle here too. Buying discounted Russian crude helped us manage its oil import bill, limit pressure on the current account and reduce some of the inflationary pressure that comes with expensive energy. When crude prices rise, the impact eventually reaches transport costs, businesses and ordinary consumers.
I feel this is what every country should be doing, protecting its own economic interests while managing its geopolitical relationships.And now comes the real question. Trump argued that India’s oil purchases were putting money into Putin’s hands and helping finance the war. So if America is now facilitating Russian diesel supplies, isn’t Russia earning money from that too?
Especially when Trump is also pushing for an understanding to stop attacks on energy infrastructure between Russia and Ukraine. Apparently, the rules change when American fuel prices start hurting at home.
I think Trump chacha should issue an official apology to India now.