alt Hacker NewsRussian crude made up 35-40% of India's oil imports in 2024. I'm sure it is not much different at present. Although a bill just passed through congress that will allow Trump to put up to a 100% Tariff on Indian imports.
Replies
lern_too_spel • today at 1:31 AM
With the strait of Hormuz closed, Russia now accounts for more than 50% of India's oil imports. If the tariffs work, the strategic petroleum reserves of the rich countries will deplete even faster, and when the reserves are gone, those rich countries will pay more for non-Russian oil than India can, so India is going to eventually have to buy the Russian oil and take the tariff hit.
It's 2026 now, and their oil production has dropped 28% due in the last month, they stopped exports (at least temporarily) and were buying oil from Turkiye and Kazakhstan, military police are stationed at fuel stations and people are fleeing crimea due to no fuel and other conditions.
https://www.youtube.com/watch?v=N4zI_oNsdgg