Donald Trump has claimed that India is no longer buying oil from Russia, portraying this as a negative development for Vladimir Putin. This statement was made amidst ongoing trade tensions, following the US’s imposition of a 50% tariff on Indian goods. The tariff, Trump stated, was a consequence of India’s trade ties with Russia, implying potential sanctions. These statements were made ahead of a meeting between Trump and Putin in Alaska, which reportedly ended without any significant agreements.
In a Fox News interview, Trump stated that Russia has lost a major customer in India. He also indicated that if he had to impose secondary sanctions, he would. He also noted that this would have a devastating impact on Russia. Despite the tariffs and strong statements, India has continued its oil imports from Russia. Approximately 35-40% of India’s total oil imports currently come from Russia.
Leading up to the Alaska summit, Trump had warned that if the meeting proved unsuccessful, additional tariffs on India would be possible. Following the summit, the question of whether further tariffs will be imposed is raised. On August 6th, Trump had earlier declared a 25% additional tariff on India, citing the country’s oil purchases from Russia as the reason. This followed a 25% tariff imposed on July 30th, resulting in a total US tariff of 50% on Indian goods. The extra 25% tariff is set to come into effect on August 27th. India has accused the US and the European Union of unfairly targeting it while the EU and US themselves import essential goods from Russia.