<ul data-eligibleForWebStory="false"><li>The US Bill, if passed, threatens India's crude oil trade with Russia, which has risen from less than 2% of India's total imports in 2022 to around 40% in a span of a few years.</li><li>Indian Oil Minister argues that buying discounted oil from Russia helps stabilize global oil supply chains and prevent price spikes in the market, as Russia is a significant crude oil producer.</li><li>A disruption in India-Russia oil trade would jeopardize India's energy security, increase the import bill, and potentially raise the current account deficit.</li><li>Former US President Trump expressed strong consideration for the Bill that includes sanctions on Russia, potentially impacting India's oil trade, while Indian officials have voiced concerns over the legislation.</li></ul>

Trump threatens India-Russia energy trade

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