India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

By bno Chennai Office Russian crude oil, once a niche component of India’s energy mix, has transitioned into a cornerstone of its import basket since around the time when Russia launched its full scale invasion of Ukraine in 2022.

But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand.