According to NDTV, India faces huge losses if it stops buying Russian oil.
It is noted that India’s annual oil import costs could increase by \$9-11 billion if the country is forced to abandon Russian crude oil.
Earlier, US President Donald Trump claimed that India would stop importing Russian oil after imposing a 25% tariff on August 1.
However, The Guardian reported that India would continue to purchase oil from Russia despite Trump’s threats.
