As trade tensions between the United States and India escalate over new tariffs, a report from The New York Times has highlighted a crucial irony: the very action for which India is now being penalized was once a move that quietly benefited the entire global economy, including Washington's interests.
The report details how, after the war in Ukraine began in 2022, India significantly increased its purchase of discounted Russian crude oil. At the time, this was seen as a positive development. With European nations halting their energy trade with Moscow, the Biden administration was concerned that a complete embargo on Russian oil would cause global prices to skyrocket.
According to the NYT, India's decision to step in and buy that oil rerouted the supply and kept the international markets relatively stable. This arrangement allowed Europe to buy refined fuels from India, Russian crude remained on the market (preventing a price shock), and Indian companies profited. As the report puts it, "Quietly, this had pleased everybody."
This perspective is not new and corroborates earlier statements from both US and Indian officials. A former US ambassador to India, Eric Garcetti, had previously stated that India's purchase of Russian oil at a price cap was part of the "design of the policy" to prevent a global energy crisis. Indian Union Minister Hardeep Singh Puri has also said that the US had encouraged the move.
The NYT report underscores the "double standards" that India has been pointing out. It frames the current tariff dispute not just as an economic issue, but as a complex political one. The report notes that as a "proudly sovereign" nation, India cannot afford to be seen as giving in to US pressure, making the current standoff even more difficult to resolve.
Tags: prameyanews
