- Category
- Latest news
Trump Threatens Major Tariff Hike on India Over Russian Oil Resales
- Authors
![Photo of Maryna Kulakova]( "Photo of Maryna Kulakova")
US President Donald Trump announced plans to significantly increase tariffs on Indian goods, accusing India of profiting from Russian oil while ignoring the war in Ukraine.
Trump stated this via Truth Social on August 4.
“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,” Trump wrote.
“They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA,” he concluded.
The Trump administration recently imposed a 25% tariff on Indian imports, pointing to India’s continued defense and energy ties with Russia. Trump has also warned of raising tariffs to 100% on imports from countries that keep buying Russian oil, unless Moscow agrees to a substantial peace deal.
-724e401279ca3de6cfc6a801a619dfa0.jpg)
Indian officials, however, insist that national energy security takes precedence. They argue that discounted Russian crude is essential to keeping fuel prices affordable for the country’s 1.4 billion citizens, despite growing pressure from the West.
Previously, India's largest state-run refiner, Indian Oil Corp, purchased 7 million barrels of crude oil from the United States, Canada, and the Middle East for September delivery, signaling a strategic shift in sourcing away from Russia, Reuters reported on August 4, citing several trade sources.
