NEW DELHI: US trade representative Jamieson Greer claimed that India is already beginning to diversify away from Russian oil, even as the United States has imposed a 50% tariff on India over its oil imports from Russia. Speaking at the Economic Club of New York, Greer explained that the 50% tariff is effectively split into two parts: one related to trade negotiations and the other linked to India’s recent surge in Russian oil purchases. “When you talk about 50% tariff on India, half of that 25% is really the trade-related side, its their reciprocal tariff, it's where we’re trying to negotiate a deal, and then the additional 25% is for the huge increase in purchases of Russian oil that India has made,” he said. Greer highlighted that India has long-standing ties with Russia, but the s

See Full Page