BRICS Buying Oil From Russia is Perfectly Legal, Says Source
The US imposed sanctions on Russia in February 2022, limiting its imports and exports to cripple its economy. Despite the US sanctions, BRICS members have been relentlessly buying crude oil from Russia worth billions of dollars. India has saved nearly $7 billion in foreign exchange rates alone while procuring Russian oil at discounted prices. The move from the White House has mostly backfired, and Trump took notice of the development. Also Read: BRICS 2025: What the Summit Really Achieved Behind Closed Doors Trump slapped 25% tariffs on India and added a penalty for buying Russian oil despite sanctions. The US President also threatened BRICS members India and Brazil to stop procuring Russian oil or face further tariffs. Even after the threats, India and Brazil continue to buy oil from Russia to help boost their respective economies. It is also a challenge to Trump’s unruly threats, where they don’t want to be seen as bowing under pressure. Buying Oil From Russia is Legal, Sa...