Russian President Vladimir Putin strongly criticized attempts by the United States to pressure India and China to sever energy ties with Moscow. He warned that such actions could backfire economically. Putin’s remarks came in response to long-standing efforts by the Trump administration to exert pressure on both China and India.
Putin stated that if higher tariffs were imposed on Russia’s trading partners, it would lead to rising prices worldwide and force the US Federal Reserve to keep interest rates high. The Trump administration had previously imposed an additional 25% tariff on India, bringing the total tax on Indian exports to 50% by August. Speaking at a forum of Russian experts, Putin said, “India and China will not allow themselves to be humiliated.”