US President Donald Trump plans to significantly increase tariffs on imports from India due to its active trade in Russian oil.

Source: Trump on his social media platform Truth Social, as reported by European Pravda

Details: On Monday 4 August, Trump stated that India "is not only buying massive amounts of Russian oil", but also is "selling it on the open market for big profits".

Quote:"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."

Details:India has become the world’s largest buyer of seaborne Russian oil, purchasing it at a discount and increasing its imports from almost zero to about a third of its total oil imports.

Background:

• Trump has repeatedly threatened to impose secondary tariffs on buyers of Russian oil.
• Last week, the US president specifically singled out India, saying it would pay an additional economic penalty for its current purchases.
• Following this, Bloomberg reported that India’s largest oil refinery purchased millions of barrels of oil from the US and the United Arab Emirates amid Trump’s pledge to impose high tariffs on buyers of Russian oil.
• Meanwhile, White House Deputy Chief of Staff Stephen Miller, one of Trump’s most influential advisers, accused India of funding Russia’s war against Ukraine.

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