Trump: Massive U.S. Tariffs to Stay Until India Halts Russian Oil Imports

U.S. President Donald Trump said that India will continue to pay “massive” tariffs on its exports to the US if it does not stop buying Russian oil.

The Gaze reports on it, referring to Reuters.

While talking to reporters aboard Air Force One, Trump said that Indian Prime Minister Narendra Modi had allegedly assured him of his intention to stop importing Russian oil.

However, the Indian side denied the information about such a conversation, stressing that the country's priority remains protecting the interests of its own consumers.

The U.S. President added that if India does not change its policy, it will continue to pay high tariffs on its exports to the United States.

"But if they want to say that, then they'll just continue to pay massive tariffs, and they don't want to do that," Trump said, responding to India’s claim that no such conversation between Modi and Trump had taken place. 

Russian oil remains a key element of tension in trade relations between Washington and New Delhi. Half of the 50% tariffs imposed by the U.S. on Indian goods are in response to India's purchases of energy resources from Russia. The U.S. Administration insists that revenues from Russian oil sales are financing the war against Ukraine.

India, for its part, has become the largest buyer of Russian oil, which Moscow sells by sea at a discount, following the imposition of Western sanctions in 2022.

Despite Trump's statements about reducing imports, analysts at Kpler predict that Russian oil deliveries to India will increase by about 20% in October to 1.9 million barrels per day as Russia increases exports after Ukrainian drone attacks on its oil refineries.

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