New delhi: Russia has developed a ‘very special mechanism’ to ensure the continuous supply of crude oil to India despite the imposition of stringent US tariffs. A senior Russian diplomat based in New Delhi made this announcement during a recent news conference.

According to Anadolu Agency, Roman Babushkin, who serves as the deputy chief of the Russian Embassy in India, emphasized that the Russian market remains open to Indian exports. This openness comes as a response to the difficulties Indian goods face entering the US market due to high tariffs. Babushkin highlighted that Moscow’s offer comes at a time when India’s imports of Russian crude oil have put a strain on its strategic relationship with the US, which has imposed 50% tariffs on these imports.

Evgeny Griva, a trade official at the Russian embassy, elaborated on this by noting the existence of a special mechanism that enables the supply of crude oil to India under these challenging circumstances. India has criticized the US measures, implemented during the Trump administration, as ‘unfair and unjust.’

In response to questions about the implications of such tariffs, Babushkin argued that unilateral actions lead to disruptions in supply chains, imbalances in pricing policies, and destabilization of global markets, which ultimately threaten the energy security of developing nations. He described the pressure exerted by these tariffs as unjustified.

The bilateral trade relationship between India and Russia has flourished, reaching a record $68.7 billion last year. During the same period, India imported approximately 88 million tons of Russian oil. Babushkin remarked on the trust that has been built between Moscow and New Delhi, despite the challenging circumstances India faces.

Peter Navarro, a counsellor for trade and manufacturing at the White House, noted that India’s procurement of Russian crude oil has surged to over 30% of its total imports, a significant increase from the mere 1% recorded before the Ukraine conflict commenced in February 2022.