Washington. US President Donald Trump threatened on Monday to “substantially” increase tariffs on Indian products as a penalty for the purchase of Russian oil, a key source of income for Moscow.
The president did not provide details on any potential new tariffs. For now, Washington has imposed an additional 10 percent surcharge on Indian products, which is expected to rise to 25 percent on Thursday.
“India not only buys massive amounts of Russian oil, but also sells much of the oil it purchases on the open market at huge profits. They don't care how many people in Ukraine are being killed by the Russian war machine. Therefore, I will substantially increase the tariff India pays to the United States,” the White House resident said on Monday via TruthSocial, without offering further details.
In response, the Indian government called criticism from the United States and the European Union (EU) for importing Russian-made oil amid the Russian invasion of Ukraine"unjustified and irresponsible."
"India has been targeted by the United States and the European Union for importing oil from Russia following the outbreak of the conflict in Ukraine," read a statement from the Ministry of Foreign Affairs published on its website, noting that"like any major economy, India will take all necessary measures to safeguard its national interests and economic security."
The ministry explained that New Delhi began "importing (oil) from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict."
He maintained that his imports "aim to ensure predictable and affordable energy costs for the Indian consumer," asserting that "they are a necessity imposed by the global market situation" and criticizing the fact that "the same nations" that are targeting him "are trading with Russia."
In this regard, he indicated that Brussels had bilateral trade in goods with Russia worth €67.5 billion in 2024, while European imports of liquefied natural gas (LNG) that same year reached a record 16.5 million tons.
