Following the US’s recent imposition of a 25% additional tariff on India because of its oil purchases from Russia, US Energy Minister Chris Wright addressed the issue. He stated that the US doesn’t want to penalize India. Wright noted that any country is free to buy oil, with the exception of Russia. The US believes there are ample oil suppliers globally, removing the need for India to purchase from Russia. He clarified that India opts for Russian oil due to its lower cost, as Russia offers it at a discount.
