India Resilient Against Potential US Tariffs on Russian Oil, Expert Says
India Resilient Against Potential US Tariffs on Russian Oil, Expert Says
IN · Published Aug 9, 2026
India's economy is expected to remain stable despite potential US tariffs on nations importing Russian crude oil, according to Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities.
The US Senate recently passed a bill that could impose tariffs of up to 100% on countries like India and China for purchasing Russian oil and natural gas.

Impact & Risks

The potential US tariffs could affect nations importing Russian oil, but India appears well-prepared to handle the situation. With a diversified oil supply chain spanning over 40 countries and robust non-dollar payment mechanisms, India is less vulnerable to disruptions. However, a prolonged spike in global oil prices above $100 per barrel could significantly increase India's annual oil import bill, potentially impacting inflation and fiscal deficits. The broader geopolitical implications of US sanctions could also accelerate global de-dollarization, affecting international trade dynamics.

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