U.S. President Donald Trump announced that he will maintain “massive tariffs” on imports from India until the country stops buying Russian oil. He made the statement while speaking to reporters on his way back to the White House. According to Trump, Indian Prime Minister Narendra Modi told him that India would stop purchasing Russian oil.
Following Trump’s remarks, Indian officials said no such phone call had taken place. Nevertheless, Trump emphasized that if India continues its oil trade with Russia, the tariffs will remain. He said these tariffs were imposed because of India’s purchases of Russian oil.
The U.S. government maintains that revenue from Russian oil sales funds the war in Ukraine. After Western nations imposed sanctions on Moscow, India became the largest buyer of Russian crude. Therefore, the U.S. has urged India to end these imports.
Trade negotiations between India and the U.S. are currently ongoing. Indian officials said the talks are taking place in a “friendly” atmosphere but did not provide details. Trump, meanwhile, appears to be using tariffs as a tool to pressure New Delhi.
According to data, India’s imports of Russian oil have risen by 20% this month. Analysts say this growth is unlikely to slow in the coming months despite Trump’s threats.
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