India slams Trump’s threat of tariffs over Russian oil purchases
India fired back at the United States after President Trump pledged to increase tariffs on New Delhi over the country’s purchase of Russian oil.
In a statement Monday, India’s Ministry of External Affairs (MEA) said the purchase of Russian oil is a “necessity” to “ensure predictable and affordable energy costs” and was once “encouraged” by the U.S. “for strengthening global energy markets stability.”
The MEA spokesperson further suggested the West is being hypocritical, pointing to trade that the European Union and the United States has continued to do since the war between Russia and Ukraine began.
“In this background, the targeting of India is unjustified and unreasonable,” the spokesperson said in the statement.
“Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,” it added.
The pushback from India comes after Trump said on Monday he would raise tariffs on India for buying and selling oil from Moscow, arguing the country doesn’t care about the Ukrainian casualties suffered at the hands of “the Russian War Machine.”
Trump did not specify the new tariff rate but said it would increase from the 25-percent tariff that the U.S. president said he would impose last month.
“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,” Trump said on Truth Social. “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.”
Trump previously vowed to hit India with a penalty for buying military equipment and energy from Russia amid the war in Ukraine.
China is also a major importer of Russian oil, but has not faced the same threats from Trump.
Trump in recent weeks has grown increasingly frustrated with Russian President Vladimir Putin and shortened the timeline for him to agree to a ceasefire in Ukraine to Aug. 8, at which point Trump has said he will impose “secondary tariffs” of up to 100 percent on Russia’s trading partners in a bid to isolate Moscow economically.
India said it would continue buying oil from Moscow on Saturday. The Indian foreign ministry called the relationship with Russia “steady and time-tested” and said its stance on security energy is guided by the availability of oil in the markets.