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Trump Warns India of Continued Tariffs Unless Russian Oil Imports Halt

share-iconPublished: Monday, October 20 share-iconUpdated: Monday, October 20 comment-icon1 month ago
Trump Warns India of Continued Tariffs Unless Russian Oil Imports Halt

Credited from: SCMP

  • Trump threatens India with "massive" tariffs if Russian oil imports continue.
  • He claims Modi assured him India would stop buying Russian crude, a statement India denies.
  • India imports significant volumes of Russian oil, particularly after Western sanctions.
  • Trade talks between the US and India are ongoing, with a target to more than double bilateral trade by 2030.
  • Trump signals potential tariff negotiations with China as part of broader trade dynamics.

US President Donald Trump has escalated pressure on India by warning that New Delhi could continue to face "massive" tariffs should it maintain its imports of Russian oil. During a recent press briefing aboard Air Force One, Trump reiterated his claim that Indian Prime Minister Narendra Modi assured him that India would stop purchasing Russian crude. He indicated, "I spoke with Prime Minister Modi of India, and he said he’s not going to be doing the Russian oil thing," highlighting the ongoing tension surrounding US-India trade relations, according to Indiatimes and South China Morning Post.

India's foreign ministry has firmly rejected Trump's assertion, stating there is no record of such a conversation. MEA spokesperson Randhir Jaiswal emphasized that India's primary objective in its energy policy is to safeguard the interests of the Indian consumer amid a volatile energy market. He stated, "Our import policies are guided entirely by this objective," further affirming India's position in the face of external pressure, according to Reuters and Indiatimes.

India has become a significant buyer of Russian oil, especially since many Western nations have curtailed purchases following sanctions imposed after Russia's invasion of Ukraine. According to estimates, India's imports of Russian oil are projected to reach approximately 1.9 million barrels per day this month, reflecting a substantial increase as Russia ramps up exports, as noted by Reuters and Reuters.

Amid these tensions, trade negotiations between India and the United States are reportedly progressing. Indian officials have emphasized the importance of protecting local interests, particularly concerning farmers and small industries, with expectations to finalize a trade deal by late 2025 that could increase bilateral trade significantly. Minister Piyush Goyal remarked, "The talks are progressing in a very cordial atmosphere," underscoring India's commitment to navigate the challenges presented by US pressure and tariffs, according to Indiatimes.

Additionally, Trump's indication that he could be open to tariff negotiations with other countries, like China, hints at the broader dynamics at play in global trade discussions. Trump suggested that concessions from Beijing might lead to a reevaluation of tariffs, framing it as a negotiation tactic in the context of ongoing trade dialogues and geopolitical strategies, as reported by Indiatimes.

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