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Jamie Dimon Urges US: Don't Punish India Over Russian Oil Tariffs
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CNBC TV18•22-09-2026, 07:00
Jamie Dimon Urges US: Don't Punish India Over Russian Oil Tariffs
- •JP Morgan CEO Jamie Dimon advises the US to reconsider oil tariffs, urging against punishing India for buying Russian crude.
- •Dimon highlights that Indian refiners have specific needs, and if they don't buy Russian oil, they might struggle to find suitable alternatives.
- •He suggests the US engage with India on sanctions implementation to avoid disrupting global oil markets.
- •While opposing oil tariffs, Dimon supports more action to help Ukraine, but stresses considering the broader impact of sanctions.
- •Dimon notes the Russia-Ukraine conflict complicates India-US relations and calls for continued efforts to finalize their trade agreement.
Key Questions Answered
Jamie Dimon urged Washington to consider how Russian crude is utilized by Indian refiners and to avoid penalizing India or destabilizing global oil markets with tariffs.
Dimon explained that certain crude oil is refined and imported to meet the precise requirements of Indian refineries, meaning alternative options might not be suitable if they stop buying it locally.
Dimon described India and the US as natural partners, urging both governments to collaborate toward stability and finalize their stalled trade agreement.
