How much US Penalty Risk on Russian Oil Could Add to India’s Oil Import Bill? 🔎 Key Findings •India currently sources 35–40% of its crude oil from Russia, a stark rise from less than 0.2% before the 2022 Ukraine war. This discount-heavy supply has helped India contain costs, keep retail fuel affordable, and support strong refining margins

SBI Research: Trump's Tariffs Likely to Hurt the U.S. More Than India

Key takeaway: SBI Research, in a report released on August 1, 2025, concluded that the 25% U.S. tariffs on Indian goods will have a wider economic impact on the U.S. than on India—deeming the tariffs a "bad business decision".

📉 Impact on U.S. Economy

•Inflation surge: SBI forecasts that import tariffs could raise U.S. consumer prices by approximately 2.4% in the short term, easing to 1.2% over time  

•Household burden: The average American household could see an additional USD 2,400 in annual expenses. Low-income earners face an increase of around USD 1,300, while high-income households might absorb up to USD 5,000—though with less strain on overall stability  

•Growth drag: U.S. GDP is expected to take a hit of approximately 40–50 basis points due to inflation, weaker demand, and currency downside

US US Penalty Risk on Russian Oil Could Add $9–11 Billion to India's Oil Import Bill

🔎 Key Findings
•India currently sources 35–40% of its crude oil from Russia, a stark rise from less than 0.2% before the 2022 Ukraine war. This discount-heavy supply has helped India contain costs, keep retail fuel affordable, and support strong refining margins

🔎 Key Findings

•India currently sources 35–40% of its crude oil from Russia, a stark rise from less than 0.2% before the 2022 Ukraine war. This discount-heavy supply has helped India contain costs, keep retail fuel affordable, and support strong refining margins