India faces a potential $9-12 billion increase in crude oil import expenses if it halts Russian oil purchases due to potential tariffs. While India has diversified its oil sources, Russian oil accounts for a significant portion of its imports.

President Donald Trump on Wednesday announced sweeping and substantial tariffs on India, one of America’s most important trading partners. In addition to a 25% tariff that is set to go into effect Thursday,

In an executive order, Trump says "I find that the Government of India is currently directly or indirectly importing Russian Federation oil" and due to those purchases, imports of Indian goods into the United States "shall be subject to an additional ... rate of duty of 25%."