According to Bloomberg, Indian government officials have asked the Trump administration to allow the purchase of oil from sanctioned Iran and Venezuela in exchange for a significant reduction in Russian oil imports.
According to the agency's source, the Indian delegation, which visited the US this week, reiterated this request during official talks. As indicated by representatives of India, the simultaneous cessation of supplies from such large suppliers as Russia, Iran, and Venezuela could lead to a sharp increase in oil prices on the world market.
The negotiations were held after the US government imposed strict tariffs on India for oil trade with Russia. Despite this, the country continues to import oil from Russia, albeit in reduced volumes.
Indian Trade Minister Piyush Goyyal, who visited America this week in New York, openly expressed his intention to increase oil and gas purchases from the US. "It is assumed that the US will have a very large share in our energy security strategy," he said.
According to the data, about 90% of India's oil needs are covered by imports. Russia's cheaper supply is becoming increasingly important for the country. For example, in July, Indian refineries purchased Russian oil at an average of $68.90 per barrel, Saudi oil at $77.50 per barrel, and US oil at $74.20 per barrel. Currently, India is the largest buyer of Russian oil delivered by tanker.
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