New Delhi [India], September 17 (ANI): India should protect its energy security, continue buying Russian crude as long as it remains commercially competitive and avoid granting unilateral trade concessions to Washington, amid the risk of additional US tariffs of up to 100 per cent, according to a report by the Global Trade Research Initiative (GTRI).
The report comes after the US House of Representatives passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 by a 262-159 vote on September 16, following its approval by the Senate by 86-11 on August 7.
The legislation allows the US President to impose additional tariffs of up to 100 per cent on goods from the five largest buyers of Russian crude oil and natural gas, putting India and China, both major buyers of Russian crude, at risk of higher tariffs.
Highlighting the need for New Delhi to safeguard its interests, the GTRI said India should not compromise its energy security in return for tariff relief from the US.
“India should not trade away its energy security for temporary tariff relief. Neither signing a trade agreement nor stopping Russian oil purchases can protect it from future US action under Section 301, sectoral measures or other trade laws,” the report said.
The report argued that Washington could use the prospect of tariffs to pressure New Delhi into reducing Russian oil purchases and making concessions under a bilateral trade agreement.
According to GTRI, the tariff threat assumes significance given India's heavy dependence on imported crude. India imports more than 88 per cent of its crude oil requirements.
In July 2026, India imported USD 7.27 billion worth of crude from Russia during the month, out of total crude imports of USD 14.21 billion. Russia's share was significantly higher than other major suppliers, including the UAE at 10.8 per cent, Saudi Arabia at 9.6 per cent, Venezuela at 6.3 per cent, Brazil at 5.5 per cent, Oman at 5.3 per cent and the US at 2.9 per cent. Russia alone supplied more crude to India than these six countries combined.
GTRI said India's crude sourcing pattern has changed sharply in recent years. Until 2022, Gulf countries accounted for more than 55 per cent of India's crude supplies, while Russia's share was below 15 per cent.
The share of Gulf suppliers has since fallen below 30 per cent, because of West Asia crisis, prompting India to source much larger quantities from Russia, the report said.
The report also cautioned that India could face greater pressure from Washington than China, despite China purchasing more Russian crude.
It cited the additional 25 per cent Russia-related tariff imposed on Indian goods in July 2025, while China was spared, noting that the tariff on India was withdrawn in February 2026.
GTRI argued that reducing Russian crude purchases or concluding a trade agreement with Washington would not necessarily insulate India from future US trade measures, pointing to tariffs imposed on other major trading partners through Section 301 investigations, sectoral measures and other trade laws.
“India should not allow US tariff threats to determine its energy policy,” the report said, adding that discounted Russian crude has helped lower the country's import bill, strengthen energy security and contain inflation.
“India should continue buying Russian oil as long as it remains commercially competitive and negotiate firmly with Washington without granting unilateral trade concessions,” GTRI said.
The report, however, noted that the actual impact on Indian exports can be assessed only after the US announces the tariff rates, product coverage and implementation timetable. (ANI)
India should resist US tariff pressure, protect energy security amid risk of up to 100% tariffs: GTRI
