Will substantially raise tariff: Trump says India buying Russia oil, selling it in open market for big profits

United States President Donald Trump on Monday threatened to raise tariffs against India for buying ‘massive amounts’ of oil from Russia amid its war with Ukraine.

Taking to Truth Social, Trump said, “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. 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. Thank you for your attention to this matter!!!

This comes two days after Trump, welcoming media reports, praised Indian refineries for halting the purchase of Russian oil.

However, hours later, government sources dismissed those reports, reaffirming that India’s energy imports are driven by market forces and national interest. “The government’s position was made clear yesterday (Friday) that the country’s energy purchases were driven by market forces and national interests and that they had no reports of Indian oil firms halting Russian imports,” sources said.

Trump administration has already imposed a 25 per cent tariff along with additional penalties on India, citing New Delhi’s continued oil imports from Russia and longstanding trade barriers as key reasons behind the move. The tariffs are effective from August 1.

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