India has publicly refuted former President Donald Trump’s recent tariff threat concerning its oil purchases from Russia, calling it “unjustified and unreasonable.” In a post on his platform, Truth Social, Trump implied that he would impose significantly higher tariffs on India, questioning the nation's stance on the ongoing conflict in Ukraine. As a major buyer of Russian oil, India's relationship with Moscow has intensified, especially following European nations' withdrawal from trading with Russia post-invasion.
India Rejects Trump's Tariff Threat on Russian Oil Purchases as 'Unjustified'
India Rejects Trump's Tariff Threat on Russian Oil Purchases as 'Unjustified'
India's Foreign Ministry responds strongly to Trump's warning of increased tariffs regarding its Russian oil imports, labeling it unreasonable.
Despite the newly proposed tariffs, which Trump has estimated at 25% recently, the Indian government highlighted that it began importing Russian oil primarily due to commitments made to global energy market stability at the onset of the conflict. A spokesperson from India's foreign ministry, Randhir Jaiswal, criticized the US for pushing India to import Russian gas when trade relations were being redirected towards Europe.
The ministry's statement emphasized that, like any major economy, India would pursue actions essential to uphold its national interests. Additionally, it pointed out the hypocrisy in the US imposing tariffs while still engaging in significant trade, reportedly valued at $3.5 billion, with Russia over the past year.
Trump, despite acknowledging India as a “friend,” expressed frustration over its tariffs on US imports, threatening penalties related to trade with Russia. In his post, he suggested that India is profiting from selling Russian oil on the open market, a claim some experts in India contest as misleading. Ajay Srivastava, a former trade official, noted that India is adapting to fluctuations in global oil supply and prices and that such trade decisions are determined independently by oil refineries in India.
As Trump’s administration continues to navigate its foreign policy stance, tensions appear to be simmering over global energy markets, with India feeling the brunt of unilateral sanctions aimed at curtailing Russian economic interests. Further diplomatic interactions, including a visit by a US envoy to Moscow, signal the complexities underlying these international trade dynamics.
With the geopolitical landscape evolving, it remains to be seen how this tariff situation will develop and how both nations will reconcile their differing economic strategies amid an ongoing global crisis regarding energy security.
The ministry's statement emphasized that, like any major economy, India would pursue actions essential to uphold its national interests. Additionally, it pointed out the hypocrisy in the US imposing tariffs while still engaging in significant trade, reportedly valued at $3.5 billion, with Russia over the past year.
Trump, despite acknowledging India as a “friend,” expressed frustration over its tariffs on US imports, threatening penalties related to trade with Russia. In his post, he suggested that India is profiting from selling Russian oil on the open market, a claim some experts in India contest as misleading. Ajay Srivastava, a former trade official, noted that India is adapting to fluctuations in global oil supply and prices and that such trade decisions are determined independently by oil refineries in India.
As Trump’s administration continues to navigate its foreign policy stance, tensions appear to be simmering over global energy markets, with India feeling the brunt of unilateral sanctions aimed at curtailing Russian economic interests. Further diplomatic interactions, including a visit by a US envoy to Moscow, signal the complexities underlying these international trade dynamics.
With the geopolitical landscape evolving, it remains to be seen how this tariff situation will develop and how both nations will reconcile their differing economic strategies amid an ongoing global crisis regarding energy security.
