Trump threatens steep tariffs on Indian imports for Russian oil purchases; India hits back
India and the US are in the middle of a major trade and diplomatic tension. US President Donald Trump announced on Tuesday that he is going to ‘very substantially’ increase tariffs on Indian imports in the next 24 hours.
This move comes amid rising tensions in relation to India’s continued purchase of Russian oil. Trump has also announced unspecified penalties against India, marking the first time such a direct threat has been issued in response to India-Russia energy trade.
India highlights EU-Russia trade figures in strong rebuttal
In a strong rebuttal, the Indian Foreign Ministry condemned the US and the European Union for singling out Indian refiners, emphasizing that India’s energy imports from Russia are influenced by the compulsions of the global market situation.
The statement also highlighted that the countries criticizing India are themselves engaged in significant purchases of Russian products. India cited European trade figures, underscoring that the products being traded currently go far beyond just energy.
The European Union and Russia are also engaged in the trade of fertilizers, chemicals, mining products, iron and steel and machinery and transport equipment. Keep an eye out for more updates on this raging situation.
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