Russia to give more concessions to India on crude oil purchase

Russia’s big blow to the US

Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, and American President Donald Trump.

Moscow (Russia) – Russia is set to give India more concessions on the crude oil it buys from Russia. India is already buying oil from Russia at a discount and experts believe that getting more concessions will save India a lot of money. Along with this, India will also be able to get the ‘S-400’ air defense system from Russia in larger quantities. Relations between India and the US have been strained after the US imposed huge import tariffs on India. Against this backdrop, experts say that Russia has given a big blow to the US by offering more concessions to India. This concession can be available in late September and October. Last week, this concession was $2.50 per barrel and in July it was $1 per barrel. Last month, US President Donald Trump imposed a 50% tariff on India, of which 25% was imposed due to India’s purchase of crude oil from Russia. The US alleges that India is funding the Ukraine war by buying crude oil from Russia. The import tariffs have created economic pressure on India; but now, if Russia gives more discounts on crude oil, then the economic pressure on India will be reduced to some extent.

S-400 supply to India to increase

Reportedly, India and Russia are in talks to purchase the S-400 air defense system. This could lead to more S-400s being supplied to India from Russia in the near future. The S-400 system played a key role in ‘Operation Sindoor’ and the Indian Air Force achieved its target. This was the reason why Pakistan’s fighter jets could not succeed against India. Hence, India wants more S-400s.