India to continue purchasing Russian oil despite Trump’s threat: Report

Indian officials confirmed Saturday the country is not altering policy and will continue buying oil from Russia, despite threats of a financial “penalty” from U.S. President Donald Trump.

The New York Times, quoting two senior Indian officials, reported that India intends to continue buying discounted oil from Russia, The Indian government has not given any directives to the country’s oil refiners to stop or reduce the amount of Russian crude oil

Similarly, Russian state news agency Tass, citing a source within the Indian government, reported that there are no indications of India halting its oil imports from Russia, and that Indian refineries are still making purchases based on pricing and other economic considerations.

“I understand India no longer is going to be buying oil from Russia,” Trump told reporters.

“That’s what I heard. I don’t know if that’s right or not, but that’s a good step. We’ll see what happens,” he said.

Trump has accused New Delhi of unfair trade practices and extensive energy and arms relations with Russia.

Indian officials told the New York Times the country has “not given any direction to oil companies” to change direction.

Publicly, Indian officials said they are considering options without confirming or denying the Times report.

“We have taken note of the sanctions, and we are looking into it,” Ministry of External Affairs of India spokesman Randhir Jaiswal said during a news conference Friday in New Delhi.

The US president on Wednesday announced 25% tariffs on India.