Crude oil being purchased by India from Russia can soon get more concession. Also, S-400 air defense systems can also be available from India and Russia. This has been claimed in media reports. This Russian President Putin is considered a gift for India amidst the US tariff pressure on India. India is already buying oil from Russia at a discount and now India will save a lot of money from getting more discounts.
There will be great relief from concession on crude oil
According to media reports, the price of Ural crude can now be reduced by $ 3-4 per barrel compared to Brent crude. This exemption can be benefited in late September and in October. Last week, the discount was $ 2.50 per barrel and in July it was 1 dollar per barrel. Last month, US President Donald Trump imposed a 50 percent tariff on India, out of which 25 percent of tariffs were imposed to buy crude oil from Russia. The US alleges that the Ukraine War is being funded by India’s purchase of crude oil from Russia. Tariff has given economic pressure on India, but now if there is more concession on crude oil from Russia, then it will surely reduce the economic pressure on India to some extent.
According to media reports, the Russian crude oil purchased by India in September had increased by 10-20 percent as compared to August, that is, India had purchased an additional 1.50 lakh to 3 lakh barrels from Russia. This number may increase further if you get more discounts.
S-400 supply to India will increase
Media reports have also claimed that talks are going on between India and Russia regarding the purchase of S-400 air defense system. India and Russia had a deal of five S-400 defense system for $ 5.5 billion in the year 2018, out of which three systems have been received by India and the remaining two S-400 systems are expected to be met in 2026 and 2027. The report, quoting Russia’s Federal Service for Military Technical Cooperation chief Dimitri Sugayev, said that the two countries are negotiating on increasing cooperation regarding S-400 and this may lead to more deals and there is currently talk for this.
The S-400 system played an important role during Operation Sindoor and did a great job in making the Indian air defense chalk. This was the reason that Pakistan’s fighter aircraft could not dare against India. This is the reason why India and S-400 are now considering buying.