US President Donald Trump has announced a heavy penalty on India for buying crude oil from Russia. After that, India has made it clear that it will not come under pressure from anyone. If India stops buying crude oil from Russia for any reason, there will be a huge jump in crude prices in the international market. Which will have the most direct impact on America than India. Because America is the second largest crude importer in the world.
China is the first in importing the most crude in the world, America is second and India is third. Energy expert Narendra Taneja says that due to America imposing a penalty for buying crude from Russia, crude prices have increased in the international market. Which will have an impact on America. Crude prices will also increase there, along with inflation. It is noteworthy that India has continued to buy crude from Russia without fear of America’s threat. According to experts, it is not easy to completely stop the import of crude oil from Russia. Because, all countries take decisions considering their own needs. If the supply of crude oil from Russia is stopped under any pressure, then its direct impact will be felt on the entire world. Due to the gap between demand and supply, the price of crude oil can increase by 100 to 120 dollars per barrel.
