Former US President Donald Trump has once again issued a stern warning to India regarding its continued procurement of Russian oil. Speaking to reporters, Trump indicated that India will face significant ‘massive tariffs’ if it persists with these purchases. This marks the third occasion Trump has publicly stated this position, referencing an alleged assurance from Indian Prime Minister Narendra Modi.
Trump claimed that Prime Minister Modi had assured him that India would cease buying Russian oil. However, he added a caveat: if India continues its current course, it will ‘continue to pay massive tariffs.’ The former president asserted that the US has already imposed substantial tariffs, stating, ‘The 79-year-old Republican president has imposed 25 per cent tariffs on India for procuring Russian oil, taking the total duties on New Delhi to a whopping 50 per cent.’
India has previously labeled these tariffs as ‘unjust,’ a stance defended by the Trump administration. Notably, India’s Ministry of External Affairs has categorically denied Trump’s assertion about a conversation between Prime Minister Modi and the former president. A spokesperson stated they were ‘unaware of any conversation’ and reiterated that India’s energy policy prioritizes securing stable prices and supplies for its consumers.
Since the conflict in Ukraine began, Russia has become India’s leading oil supplier. Data indicates that Russian crude now constitutes 34% of India’s total oil imports. While this represents a significant share, recent reports suggest a slight decrease in imports from Russia compared to earlier periods. Despite this, Russia remains a crucial energy partner for India.