Trump Claims Russia Lost "Oil Client" India, Then Another Tariff Warning
The President's remarks came even as New Delhi is yet to confirm any halt in oil purchases from Moscow after Washington announced a 25 per cent duty in addition to a 25 per cent tariffs on Indian goods last month.
"They lost oil client India which was doing about 40% of the oil and China's doing a lot. If I did a secondary tariff it would be devastating, if I have to I will, maybe I won't have to," Mr Trump told Fox News as he departed for Alaska for a high-stakes meeting with his Russian counterpart Vladimir Putin.
Trump says he may not impose 25% tariffs on India (to kick in from 27 August) for buying Russian oil..
Trump: "They lost oil client India which was doing about 40% of the oil & China's doing a lot, if I did a secondary tariff it would be devastating, if I have to I will, may be… pic.twitter.com/dhyC7RpHNh
— Dhairya Maheshwari (@dhairyam14) August 16, 2025
On August 6, Mr Trump escalated his tariff offensive against India by slapping an additional 25 percent duty and subsequently doubling it to 50 percent on Indian goods over New Delhi's continuous imports of Russian oil.
India condemned the "unfair, unjustified and unreasonable" move that is likely to hit sectors such as textiles, marine and leather exports hard. Prime Minister Narendra Modi on Thursday said New Delhi would not back down in the face of economic pressure.
With this action singling out New Delhi for the Russian oil imports, India will attract the highest US tariff of 50 percent along with Brazil. Both Russia and China, among others, have slammed Mr Trump for exerting illegal trade pressure on India.
A Bloomberg report claimed India's state-owned refiners stopped buying Russian crude after Mr Trump's action even though the government is yet to announce any confirmation.
On Thursday, Indian Oil Corporation chairman AS Sahney said India has not halted oil purchases from Russia and continues to buy solely on the basis of economic considerations.
India became the largest customer of Russian oil in 2022, after western countries shunned Russian oil and imposed sanctions on Moscow for its invasion of Ukraine.
According to a report by the State Bank of India, India's crude oil import bill could increase by USD 9 billion this financial year and USD 12 billion in the next, if the country stops buying Russian crude oil. The report also said that India can consider buying oil from Iraq - its top supplier before the Ukraine war - followed by Saudi Arabia and the UAE in the event of cutting off the Russian supplies.
Data intelligence firm Kpler Ltd reported Russian crude is being offered to Indian buyers at lower prices as European Union sanctions and threats of penalties from the US cloud the demand outlook, Bloomberg reported.
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