Russia Increases Oil Discounts for India Amid US Pressure
India is poised to benefit from increased discounts on Russian oil, as Moscow seeks to solidify its status as a key energy partner amid rising U.S. scrutiny. The discounts have expanded to $3-4 per barrel, driven by a shift of European buyers away from Russian crude. While India defends its position against U.S. criticism, emphasizing its need for affordable energy, the risk of significant tariffs on Indian exports looms. This situation underscores India’s complex balancing act between maintaining traditional ties with Russia and navigating its growing partnerships with Western nations, particularly as it seeks to bolster its economic ambitions and counterbalance China’s influence in the region.