Russia Mocks Trump’s ’Pathetic’ Bid to Sabotage India Oil Trade—Geopolitical Tensions Fuel Market Volatility

Oil markets brace for turbulence as Russia shrugs off US pressure tactics.

Moscow laughs off Washington's latest attempt to strong-arm India into cutting energy ties—calling the move 'desperate' and 'doomed to fail.'

Behind the scenes: Petrodollar dominance faces its toughest test yet as BRICS nations quietly build alternative settlement systems. (Spoiler: They're not using Swift.)

Bonus finance jab: Meanwhile, Wall Street hedges its bets—because nothing screams 'stable investment' like geopolitical brinkmanship over commodity flows.

Kremlin rejects pressure, backs India’s trade freedom

Kremlin spokesperson Dmitry Peskov responded Tuesday by rejecting Trump’s threats outright. “We do not consider such statements to be legitimate,” Peskov said during a briefing, adding, “These are attempts to force countries to stop trade relations with Russia.”

He stressed that countries like India have the right to choose their own trade and economic partners based on what benefits them.

The comments followed Trump’s earlier warning on Monday that tariffs on Indian goods WOULD rise “substantially,” though he still hasn’t named a specific figure beyond the original 25% duty. The president had already floated the idea of a new “penalty” last week if India didn’t stop doing business with Russia.

This standoff between Washington and New Delhi over oil imports is drawing attention from global investors. India, one of Russia’s biggest current buyers, has continued to import large volumes of crude despite Western sanctions aimed at cutting off the Kremlin’s war funds. Russia became India’s largest oil supplier after the 2022 invasion of Ukraine.

India defends ties with Russia, sends key officials to Moscow

India isn’t backing away from the partnership. In fact, it’s deepening it. Ajit Doval, India’s National Security Adviser, is heading to Russia this week, and S. Jaishankar, the External Affairs Minister, will follow later in the month. Indian officials familiar with the trips confirmed the plans, though details remain private for now. Doval’s travel was first reported by The Times of India on Tuesday.

The trips come right after Trump’s latest round of tariff threats. But Indian officials have pushed back hard. The Foreign Ministry issued a statement dismissing U.S. and European Union criticism as “unjustified and unreasonable,” pointing out that those same countries are still trading with Moscow even when it’s not vital to their national interests.

“It is revealing that the very nations criticizing India are themselves indulging in trade with Russia,” the ministry said. “Unlike our case, such trade is not even a vital national compulsion [for them].”

Indian Prime Minister Narendra Modi has maintained close contact with Vladimir Putin, traveling to Russia last October. Putin is expected to visit India later this year, and that visit will likely be discussed during Doval and Jaishankar’s meetings in Moscow.

Since the invasion began in 2022, the trade bond between the two countries has grown sharply. Before the war, India bought fewer than 100,000 barrels of oil per day from Russia, which made up just 2.5% of its total crude imports. By 2023, that number jumped to over 1.8 million barrels per day, or 39% of all oil coming into the country.

Western countries have tried to block Russia’s energy revenues by putting limits on imports and imposing sanctions, but India and China have continued to purchase at scale. Unlike their Western counterparts, India says its dependency on Russian oil is essential.

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