In any prolonged standoff, either of the two feuding parties has to relent or blink first to end it. The Ukraine-Russia war, now into its fourth year, shows no signs of relenting or abating, with both taking ultranationalistic positions and accusing the other of not going the extra mile to reach out to it. And strange as it might sound, this standoff has caught India in the crossfire. POTUS Trump has taken umbrage at India buying oil from Russia, which in his view is tantamount to India bankrolling the Russian war machine. Hence, the 50% penal tariff on Indian exports to the USA. Trump is blasé about the fact that the US itself buys plutonium, fertilisers, etc. from Russia.

India gains primarily from significant cost savings on discounted crude, which helps manage domestic inflation, ensures energy security, and provides strategic foreign policy autonomy. The availability of Russian crude at a significant discount, compared to oil from traditional Middle Eastern and global suppliers, has saved the country billions of dollars in its import bill, which helps keep domestic fuel prices stable and curbs inflation for Indian citizens. India is the world's third-largest oil importer and consumer, relying heavily on imports to the tune of 80% of its requirements. By diversifying its sources to include Russia, India reduces its historical over-reliance on Middle Eastern suppliers and hedges against potential supply disruptions or price volatility in other regions, such as the Strait of Hormuz chokepoint. Most Indian refineries are well-configured to process the heavier Russian Urals crude grade efficiently without requiring........

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