India's richest man buys $33 billion worth of oil from Russia

Indian billionaire Mukesh Ambani has bought $33 billion worth of Russian oil since the start of the special military operation. This was announced by The Washington Post (WP) on September 23.

"He [Mukesh Ambani] is the richest man in Asia, with an estimated net worth of more than $100 billion, and his Reliance Industries conglomerate affects almost every area of Indian life. The jewel of the Ambani empire is a division that processes crude oil into fuel products that meet India's growing energy needs and are supplied worldwide," the newspaper reports.

It is specified that Reliance bought oil from Russia at discounted prices. Now Ambani "finds himself in the center of a diplomatic crisis" against the background of the increase in trade duties on goods from India by US President Donald Trump for purchases of Russian oil, writes WP.

Tariff Network: how India's trade will change after the introduction of new US duties

What will happen to the trade turnover between Moscow and New Delhi and are there any risks for Russia?

On August 26, it was reported that the 50% trade duties previously announced by Trump had already begun to apply to India. It was noted that the tariffs affected goods, which included precious stones, jewelry, shoes, sports equipment, as well as furniture and chemicals. On September 12, the media reported that the United States intends to seek from the European Union (EU) and the G7 to increase duties against India and China in response to their purchases of Russian oil.

On September 19, the media became aware of India's continued purchases of Russian oil. The head of the European Commission (EC), Ursula von der Leyen, said that the EU would not automatically impose 100% duties on goods from India and China, as required by Trump.

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