US President Donald Trump has claimed that Russia has lost India as a major oil customer after Washington announced penalties on New Delhi for continuing crude imports from Moscow. At the same time, Trump hinted that other nations still buying Russian oil may not immediately face the same kind of secondary tariffs.
Trump’s remarks come even as India has not officially confirmed whether it has stopped importing Russian crude. Last month, Washington slapped an additional 25% tariff on Indian goods, on top of an existing 25%, effectively doubling duties to 50%. The new tariffs will kick in on August 27.
Speaking to Fox News before leaving for Alaska for a high-stakes meeting with Russian President Vladimir Putin, Trump said:
“Well, he (Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot… And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it.”
On August 6, Trump imposed the additional 25% duty on Indian exports, doubling tariffs to 50%. The move came as a direct response to India’s continued purchase of Russian oil.
India has strongly criticized the action, calling it “unfair, unjustified and unreasonable.” Officials in New Delhi warned that the new duties will hit key export sectors including textiles, marine products, and leather goods.
Prime Minister Narendra Modi has already underlined that India will not bow to economic pressure, making it clear that New Delhi will continue to stand firm on its policies.
