White House Trade Advisor Peter Navarro referred to the Russia-Ukraine conflict as "PM Modi's war," criticising India for purchasing discounted crude oil from Moscow.
With India's steel sector responsible for nearly 350 million tonnes of CO₂ emissions annually, industry leaders on Friday said the transition to low-carbon steel hinges on government creating demand through procurement mandates, besides providing financial support and policy certainty.
White House Trade Adviser Peter Navarro on Thursday (local time) claimed that India is cozying up to China's President Xi Jinping, adding New Delhi of acting as a "laundromat for the Kremlin" by purchasing discounted Russian crude oil, refining it, and selling the products at a premium gl
Babushkin also hit out at Washington's tariff decision and pressure on New Delhi over Russian crude oil, saying the moves were "unjustified and unilateral."
White House trade adviser Peter Navarro has targeted Indian purchases of Russian crude oil, accusing it of funding Moscow's war in Ukraine and called on New Delhi to stop.
If Russian oil exports were to be disrupted, it could create a major problem for the global economy, however, for India, the impact is expected to be limited, according to a report by Bank of Baroda
The Aam Aadmi Party (AAP) on Tuesday alleged that Prime Minister Narendra Modi has prioritised "crony interests" over national welfare, noting that he allowed petrol and diesel to be sold at Rs 95-104 per litre despite India purchasing crude oil at discounted rates from Russia.
Naidu also said that India would not "compromise or succumb to pressure from anybody" despite tensions with Washington over Russian crude purchases and the recent imposition of additional US tariffs on Indian goods.
India's crude oil import bill could increase by USD 9 billion to USD 12 billion, if the country stops buying Russian crude oil, according to a report by the State Bank of India (SBI).
India's strong domestic demand and the robust performance of its services sector will help cushion the economic impact of steep new US tariffs imposed as a penalty for continued imports of Russian crude oil, according to a report by Moody's Ratings.