US President Donald Trump, in an interview, stated that Russia has lost India as an oil client, as he addressed the economic dimension of Russian President Vladimir Putin’s decision to engage in negotiations.
While speaking with Fox News, when questioned about the economic factors influencing Putin’s approach to talks, Trump highlighted India’s role, saying, “Well, they lost an oil client, so to speak, which is India, which was doing about 40% of the oil. China, as you know, is doing a lot… and if I impose secondary sanctions, it would be devastating from their standpoint. If I have to do it, I’ll do it; maybe I won’t have to,” he remarked during the interview aboard Air Force One.
Trump’s comments come in the wake of his recent decision to impose a 50% tariff on Indian imports, citing New Delhi’s ongoing oil trade with Russia.
Just days earlier, on 7 August, the US President had announced an additional 25% tariff on India and hinted that further “secondary sanctions” might follow in relation to the same issue.
When asked why India was being singled out for additional sanctions, despite other nations such as China also purchasing Russian oil, Trump responded, “It’s only been eight hours. So let’s see what happens. You’re going to see a lot more… You’re going to see so many secondary sanctions.”
He also hinted that US administration could impose “more” similar sanctions on China.
On being asked, ‘On the Indian penalties, do you have any similar plans to enact more tariffs on China’, US President Donald Trump says, “Could happen. Depends on how we do. Could happen.”
US President Donald Trump last week signed an Executive Order imposing an additional 25 per cent tariff on imports from India.
According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India’s imports of Russian oil, directly or indirectly, pose an “unusual and extraordinary threat” to the United States.
After the order, the total tariff on Indian goods will be 50 per cent. While the initial duty comes into effect on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific exemptions.
Following this announcement, the Ministry of External Affairs (MEA), in its response, termed the US’s move as “unfair, unjustified and unreasonable”, declaring that New Delhi will take “all actions necessary to protect its national interests.”
In an official statement, the MEA said, “The United States has in recent days targeted India’s oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.”
“It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” the statement added. “We reiterate that these actions are unfair, unjustified, and unreasonable. India will take all actions necessary to protect its national interests,” the MEA stressed.
