India, faced with 25% additional penal tariffs for its crude trade with Russia, has reportedly asked the US to allow oil imports from Iran and Venezuela. Following international sanctions due to the Ukraine conflict, Russia began offering its oil at reduced prices. With India importing nearly 90% of its oil requirements, the cost-effective Russian supplies have helped reduce its import expenses. Similar price advantages could be available from Iranian and Venezuelan supplies. According to a Bloomberg report, Indian officials, during their US visit this week, reiterated their stance to the Trump administration regarding oil imports. They suggested that any substantial decrease in Russian oil purchases by Indian refiners would necessitate Washington's approval for crude imports from Ir

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