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Trump’s penalty threat puts India in a bind over Russian oil

Despite U.S. President Donald Trump telling reporters Friday that he “heard” India would halt purchases, officials in New Delhi have remained noncommittal.

New Delhi is likely to remain non-committal on oil purchases as it assesses the trade-offs of this “Russia option” as a bargaining chip

But analysts suggest that India, which is the third-largest energy consumer in the world, isn’t blinking for now. Reuters reported that there are no immediate changes planned to India’s long-term contracts with Russian suppliers, citing two anonymous Indian government sources that did not wish to be identified due to the sensitivity of the matter.