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Jamison Greer has said that India has started reducing its dependence on Russia for energy. He hoped that the ongoing business differences between the two countries would be resolved soon. Speaking at the Economic Club in New York, Greer said that energy purchase from Russia is not the main basis of India’s economy, so India can reduce oil imports from Moscow without any major economic impact. He said, ‘We are seeing that India is already bringing diversity in its energy sources. This is a step in the right direction.’

India is a sovereign country but…

Greer clarified that America does not want to interfere in India’s foreign relations, but he is worried about the issue of oil purchasing oil from Russia, as Russia continues Ukraine War with these money. He said, ‘India is a sovereign country and will take its own decisions. President Trump’s focus is on ending the Russia-Ukraine war. Our aim is not to tell any country to whom or not to keep related to, but to ensure that Vladimir Putin has maximum pressure. Greer described India as practical in business matters and said that talks have been going on between the two countries since the initial stages of Trump administration. He met India’s Commerce Minister Piyush Goyal during the United Nations General Assembly meeting in September, in which 50% tariff dispute was discussed.

Hope of solution soon

According to US officials, business disputes are expected to resolve in the coming few weeks. At the same time, Sergio Gor (the next US Ambassador to India) recently said that the trade talk has reached the final stage. At present, 50% tariff rate is applied to India, which is considered the most in the world. Its impact is mainly on the export of textile, gem-jewelery, shrimp and marine products. This tariff includes 25% mutual fee and additional 25% punitive tax, which has been levied for oil purchases from Russia. According to the US trade office, the total value of Indo-US trade in 2024 stood at $ 212.3 billion. In this, India has a trade surplus of about $ 40-45 billion, which the Trump administration wants to reduce.