President Donald Trump said he will “substantially” raise tariffs on India because it’s still buying Russian oil.

As per the data from the report, China is the largest buyer of Russian oil. In 2024, China imported $62.6 billion worth of Russian oil, compared to India's $52.7 billion.

Russian oil exporters are predicted to take in $153 billion this year, according to the Kyiv institute. Fossil fuels are the single largest source of budget revenue. The imports support Russia's ruble currency and help Russia to buy goods from other countries, including weapons and parts for them.