New Delhi, Aug. 21 -- The ongoing Ukraine-Russia conflict has sparked a fresh economic flashpoint - this time involving India, as a full-fledged tariff war over fuel imports intensifies. The Trump administration has imposed steep 50 per cent tariffs and penalties on Indian crude imports from Russia, accusing New Delhi of indirectly financing the war in Ukraine.
In a striking revelation on Wednesday, a senior Russian official disclosed that India is receiving Russian crude at an average discount of five per cent, a fact previously kept under wraps.
"It's a commercial secret," said Evgeniy Griva, Deputy Trade Representative of Russia to India. Later, the Russian embassy clarified that regarding oil import prices amid tariffs, "a five per ce...