India attacks US and Europe's 'double standards' in trade with Russia
"The countries criticising India are themselves engaged in trade with Russia," India's Ministry of External Affairs said in a statement on Monday evening, adding that "it is unjustified to target India alone".
It noted that the European Union conducted trade with Russia worth €67.5 billion ($78.02bn) in 2024, including record LNG imports of 16.5 million metric tonnes.
According to the statement, the US continued to import Russian uranium hexafluoride for use in the nuclear power sector, along with palladium, fertilisers and chemicals, without clarifying the source of this information.
This escalation follows direct threats made by Trump on 31 July, announcing 25% tariffs on Indian goods exported to his country, while also threatening unspecified sanctions against India's purchases of Russian oil, in what observers described as a sudden escalation in relations between Washington and New Delhi.
India, one of the largest importers of Russian oil, imported about 1.75 million barrels daily between January and June 2025, up 1% from the same period last year.
The EU in July imposed sanctions on India's Nayara Energy, a major refiner in which Russia's Rosneft holds a majority stake. New Delhi has maintained that it does not recognise "unilateral sanctions" imposed by the EU.
New Delhi's scathing response
Both Prime Minister Narendra Modi's ruling Bharatiya Janata Party (BJP) and the main opposition Congress Party condemned the ongoing US criticism. "Trump's insulting remarks hurt the dignity of Indians," said Congress MP Manish Tiwari, adding: "It is time to put an end to this incessant bullying and intimidation."
BJP vice-president Baijayant Jai Panda recalled a famous quote by Henry Kissinger on the X platform: "To be an enemy of America may be dangerous, but to be a friend of America is deadly."
Trade experts believe that the upcoming US tariffs could cause significant damage to the Indian economy. Ajay Srivastava, of the Global Trade Research Initiative in New Delhi, said he expects India's exports to the US to fall 30% in the current fiscal year to $60.6bn from $86.5bn in fiscal 2025.
The trade tension was directly reflected in the markets, with Indian stock indices plummeting after Trump's latest threats.
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