US seeks to include India's Russian oil purchases in trade talks - Bloomberg

The US is trying to include India's oil purchases from Russia in trade agreement negotiations, despite the fact that Indian refineries do not plan to reduce purchases of Russian oil. This is reported by Bloomberg, according to UNN.

Details

"The US is trying to include India's oil purchases from Russia in trade agreement negotiations, even as the South Asian nation's refineries increase imports to meet growing domestic demand," the publication writes.

According to sources, the American delegation led by Assistant US Trade Representative Brendan Lynch raised the issue with Indian negotiators at a meeting on Tuesday. Such a demand is unusual, as a country's relations with a third country are rarely the subject of bilateral trade negotiations.

"Earlier this week, a group of US government officials was in New Delhi for talks, as both sides sought to ease tensions after President Donald Trump imposed a 50% tariff on goods from India. Signs of a renewed relationship emerged after Trump called Indian Prime Minister Narendra Modi on his birthday this week, sparking cautious optimism in New Delhi about a trade deal," the publication adds.

During Tuesday's talks, India insisted on the abolition of an additional 25% levy on purchases of Russian energy. The Indian government called the additional duties "unfair, unreasonable and irrational" and defended the consumption of Russian oil as necessary for energy security.

Indian refineries do not plan to reduce purchases of Russian oil, as domestic fuel demand is growing and the government has not issued any order to reduce purchases, the publication notes.

Recall

US President Donald Trump held a phone conversation with Indian Prime Minister Narendra Modi, thanking him for his support in resolving the conflict in Ukraine. Modi confirmed his support for US initiatives for a peaceful resolution of the conflict.