Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India.

Indian officials confirmed Saturday the country is not altering policy and will continue buying oil from Russia, despite threats of a financial "penalty" from U.S. President Donald Trump.

India's annual oil import bill could rise by USD 9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports,