India responded to comments from former President Trump, who announced plans to increase tariffs on Indian purchases of Russian oil. This statement came as India stated that buying Russian oil was essential to maintaining “predictable and affordable energy costs.” They also noted that the U.S. had, at one time, encouraged such purchases to stabilize the global energy market.
A representative from India’s Ministry of External Affairs (MEA) criticized what they viewed as hypocrisy from the West, highlighting that both the European Union and the U.S. have continued trade with Russia since the conflict in Ukraine began.
“In this context, targeting India feels unjust and unreasonable,” the spokesperson mentioned. They emphasized that like other significant economies, India would take necessary actions to safeguard its national interests and economic security.
This marks a notable pushback from India after Trump’s assertion that he would impose higher tariffs on India regarding oil transactions with Moscow. While specific rates weren’t clarified, he indicated that the tariffs would be increasing from the previous 25% proposed.
Trump commented, “India is not just importing large amounts of Russian oil; they are reselling a portion of it in the open market for substantial profits.” He expressed that India’s actions seemed indifferent to the ongoing violence in Ukraine caused by Russian aggression, leading him to assert that he would effectively raise tariffs on Indian oil purchases.
In prior statements, Trump had planned to penalize India for acquiring military and energy resources from Russia amidst the ongoing war. Notably, China, another significant buyer of Russian oil, has not faced similar threats from Trump.
In recent weeks, Trump has increasingly expressed dissatisfaction with Russian President Vladimir Putin, tightening his timeline for a potential ceasefire in Ukraine. At this point, he suggested he would impose a “secondary tariff” of up to 100% on countries trading with Russia to economically pressure Moscow.
India reiterated on Saturday that it would persist in its oil purchases from Russia. The Foreign Ministry labeled its ongoing relationship with Russia as “time-tested” and maintained that its energy security decisions are based on the oil availability in the market.
