Washington, D.C. [US], August 4 (ANI): U.S. President Donald Trump on Monday announced that the United States will “substantially raise” the tariff paid by India in response to its continued imports of Russian oil, accusing New Delhi of profiting from reselling Russian crude on the global market.
In a post on his social media platform, Truth Social, Trump alleged that India was not only purchasing “massive amounts” of oil from Moscow but also reselling portions of it for “big profits,” despite the ongoing war in Ukraine.
“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!!” Trump wrote.
The announcement follows his recent decision to impose a 25 percent reciprocal tariff on Indian goods and an unspecified penalty tied to India’s oil trade with Russia.
In response, India reiterated its sovereign right to determine its energy policy based on national interest and market dynamics. Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal last week stated:
“You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics.”
Jaiswal also clarified that India’s foreign relations operate independently of third-party perspectives.
“Our ties with any country stand on their merit and should not be seen from the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership,” he said.
Trump had earlier remarked that India may soon cease buying oil from Russia, calling it a “good step,” though he acknowledged uncertainty about the report’s accuracy.
“I understand that India is no longer going to be buying oil from Russia. That’s what I heard, I don’t know if that’s right or not. That is a good step. We will see what happens…” Trump said on Friday.
Trump’s tariff threat arrives amid speculation over a potential interim India–U.S. trade deal, which many had hoped would ease trade tensions. However, the imposition of higher tariffs now casts doubt over any near-term agreement.
Analysts have warned that if India were to halt Russian oil purchases, global crude prices could spike to as high as USD 200 per barrel, a scenario that could severely impact global consumers. (ANI)
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