The Ministry of Petroleum and Natural Gas is currently assessing the potential impact of U.S. President Donald Trump’s newly announced 25% tariff on Indian exports. The announcement also states that an additional penalty will be imposed due to India’s crude oil imports from Russia. Senior government officials told NDTV Profit that the ministry is awaiting formal executive directives on specific measures.
The US tariff announcement, made late Wednesday, has raised concerns across India’s energy sector, particularly as Russian crude now accounts for nearly 35–40% of India’s total oil imports. India’s energy bill could see a sharp spike if Russian supply is disrupted, a senior official said, adding that refiners may be forced to turn to alternative sources such as the U.S. and Brazil.
India has diversified its crude basket in recent years, but the scale of Russian imports, up nearly tenfold since 2021, makes any abrupt shift both costly and complex. Sources to NDTV Profit also raised concerns over tariff-driven disruptions which may push up global prices.