Trump Plans to Impose Steep Tariffs on India Over Russian Oil Purchase
In a post on Truth social media Sunday, Trump stated, "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."
He added, "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 did not clarify the exact details or timeline for the proposed tariff increase.
This latest announcement comes after Trump’s prior warnings about imposing sanctions on New Delhi due to its ongoing energy and defense partnerships with Moscow.
Last year, Russian oil made up between 35% and 40% of India’s total oil imports. So far, India has not issued an official response to Trump’s remarks.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
