WASHINGTON. U.S. President Donald Trump on Monday renewed his threat to raise tariffs on Indian goods over New Delhi’s continued purchases of Russian oil, prompting a sharp response from India, which vowed to safeguard its economic interests.
In a social media post, Trump accused India of buying “massive amounts” of Russian oil and reselling much of it on the open market for profit, while disregarding the toll of Russia’s war in Ukraine. “Because of this, I will be substantially raising the tariff paid by India to the USA,” he wrote.
India’s foreign ministry dismissed the criticism as “unjustified and unreasonable,” saying it would take all necessary measures to protect its national interests and economic security. Officials also noted that Western nations, including the European Union, continue to trade with Russia despite their own criticism of New Delhi.
Trump has said new sanctions will be imposed on Russia and countries purchasing its energy exports starting Friday, unless Moscow takes steps to end its 3-1/2-year war with Ukraine. India, however, remains the largest buyer of seaborne Russian crude, importing about 1.75 million barrels per day from January to June, a 1 percent increase from last year, according to trade data.
Two Indian government sources told Reuters over the weekend that New Delhi will continue to buy Russian oil despite U.S. pressure. Indian officials stated that the purchases commenced after traditional supply routes to Europe shifted following the outbreak of the Ukraine conflict, and were “a necessity compelled by the global market situation.”
Trump had already announced 25 percent tariffs on Indian imports in July, citing geopolitical disputes that have stalled a potential U.S.-India trade agreement. He has also criticized the BRICS bloc of developing nations, of which India is a member, as hostile to U.S. interests, an accusation the group denies.
Although Indian refiners briefly paused Russian oil purchases last week amid narrowing discounts, government officials said there was no change in policy. The country’s largest refiner, Indian Oil Corp, has recently sourced 7 million barrels of crude from the United States, Canada, and the Middle East, according to trade sources.
Si Venus L Peñaflor ay naging editor-in-chief ng Newsworld, isang lokal na pahayagan ng Laguna. Publisher din siya ng Daystar Gazette at Tutubi News Magazine. Siya ay isa ring pintor at doll face designer ng Ninay Dolls, ang unang Manikang Pilipino. Kasali siya sa DesignCrowd sa rank na #305 sa 640,000 graphic designers sa buong daigdig. Kasama din siya sa unang Local TV Broadcast sa Laguna na Beyond Manila. Aktibong kasapi siya ng San Pablo Jaycees Senate bilang isang JCI Senator.
- Venus L Peñaflor
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- Venus L Peñaflor
