Former US President Donald Trump stated that India has ceased purchasing oil from Russia, a move he framed as a setback for Russian President Vladimir Putin. Trump’s remarks followed the announcement of a 50% tariff on certain Indian goods by the United States. He attributed this tariff to India’s trade with Russia, suggesting potential penalties for such dealings. The statements were made before a meeting between Trump and Putin in Alaska, which reportedly concluded without any significant outcomes. Trump indicated that Russia had lost a major oil customer in India, which previously accounted for 40% of its oil trade.
In an interview with Fox News, Trump emphasized that Russia had lost a significant client in India. He also stated that if he had to impose secondary sanctions, he would. He noted that this move would be devastating for Russia. Despite the implications, India has continued to import oil from Russia, with imports from Russia currently making up approximately 35-40% of India’s total oil imports.
Leading up to the Alaska summit, Trump had warned that additional tariffs would be imposed on India if the meeting proved unproductive. Following the summit, questions remain about the potential for further tariff increases. On August 6th, Trump announced an additional 25% tariff on India, citing the country’s oil purchases from Russia as the reason. This followed an initial 25% tariff imposed on July 30th, bringing the total US tariff on Indian goods to 50%. The additional 25% tariff is set to take effect on August 27th. India has accused the US and the European Union of unfairly targeting it while they themselves continue to import essential goods from Russia.