India’s Russian oil imports are keeping global crude prices from soaring to $200, say sources, as refiners continue purchases despite US pressure and Trump remarks.

By bnm Gulf bureau Indian officials have said they would keep purchasing oil from Russia despite threats of penalties from US President Donald Trump, The New York Times reported on August 2. New Delhi has been among the top buyers of seaborne Russian crude since Western sanctions altered Russia’s trade flows.

US President Trump suggests India may stop buying Russian oil, India defends energy policy, US-India trade negotiations ongoing.