India hits back at West over Russia oil trade hypocrisy
The West has consistently pressured New Delhi over its energy ties with Moscow. US officials have accused India of 'effectively' financing Russia's conflict with Ukraine by purchasing large volumes of oil. India has strongly rejected the charge, saying its imports serve the national interest and help ensure affordable energy for its consumers.
In a statement shared with RT on Monday, an official spokesperson said the purchases have also contributed to stability in global oil prices.
'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' the spokesperson said, calling the targeting of India 'unjustified and unreasonable.'
New Delhi also pointed to ongoing Western trade with Moscow, despite repeated pledges to sever economic ties. 'Unlike our case, such trade is not even a vital national compulsion,' the spokesperson claimed.
He cited data showing the EU traded €67.5 billion (over $78 billion) in goods with Russia in 2024 and €17.2 billion in services in 2023 – far more than India's total trade with Moscow. European imports of Russian LNG also hit a record 16.5 million tons last year, with trade extending beyond energy to fertilizers, chemicals, steel, and machinery.
US President Donald Trump warned on Monday he would 'substantially' raise tariffs on India and accused it of buying 'massive amounts' of Russian oil and reselling it for 'big profits.' He previously threatened 100% tariffs on countries trading with Russia unless Moscow agrees to a major peace deal with Ukraine.
India also noted the US continues to import key Russian commodities, including uranium for nuclear plants, palladium for EVs, and various chemicals and fertilizers.
Since the escalation of the Ukraine conflict in 2022, Russia has become India's top crude supplier. In parallel, India has emerged as a major exporter of refined fuels to the EU, much of it made from Russian-origin crude.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Russia Today
18 minutes ago
- Russia Today
Trump to ‘substantially' raise tariffs on India ‘over the next 24 hours'
US President Donald Trump said on Tuesday that he will 'substantially' raise tariffs on imports from India over the next 24 hours because of the South Asian's continued purchases of Russian crude. The latest threat comes a day after India rejected US and EU criticism over its oil trade with Russia saying it would take measures to 'safeguard its national interests and economic security,' while adding that the targeting of the South Asian nation was unreasonable. Calling India the 'highest tariff nation,' the US President told CNBC Squawk Box in a phone interview that India has not been a good trading partner. 'They do a lot of business with us but we don't do with them. So, we settled on 25% but am going to raise them substantially in the next 24 hours because they're buying Russian oil and they're fueling the war machine,' Trump said in the interview. ❗️Trump Will 'Substantially Raise' India's 25% Tariff Rate 'Over the Next 24 Hours' The US president cited India's Russian oil purchases as the reason during a phone interview with CNBC. In the 2024-25 fiscal year, bilateral trade between India and the US reached $131.8 billion, with a trade surplus of $41.18 billion for New Delhi, according to the Indian government. Trump also claimed in his Tuesday interview that New Delhi has offered to entirely waive tariffs on US imports. 'Now I will say this, India went from the highest tariffs ever, they will give us zero tariffs. But that's not good enough, because of what they're doing with oil,' he said. Although the US President maintains that India is a friend, he has recently made a string of statements that are critical of New Delhi. On Monday, he said India was making 'big profits' by selling Russian oil in the open market. 'They don't care how many people in Ukraine are being killed by the Russian war machine,' he said in a Truth Social Post on Monday.
Russia Today
3 hours ago
- Russia Today
China turns to BRICS partner for coffee amid US tariffs
Beijing has authorized nearly 200 Brazilian companies to export coffee to the Chinese market amid escalating trade tensions between the South American nation and the US, according to the Chinese embassy in Brazil. The greenlight follows Washington's decision to impose a hefty tariff on Brazilian coffee and other goods. The 50% tariff, which took effect in late July, targets coffee and meat – two key sectors of Brazil's economy. The move comes amid the broader trade war launched by US President Donald Trump against multiple countries. 'China has approved the authorization of 183 new Brazilian coffee companies to export to the Chinese market,' the embassy said Saturday in a post on Twitter, adding that the measure took effect on July 30 and will remain valid for five years. 🚢☕️ #café brasileiro na china! A China aprovou a habilitação de 183 novas empresas brasileiras de café para exportação ao mercado chinês. A medida entra em vigor em 30 de julho de 2025 e tem validade de 5 anos.#CaféBrasileiro#Exportação#China#BrasilChina# Brazil's Ministry of Industry and Foreign Trade has estimated that 35.9% of exports to the US will be affected by the tariffs, warning that annual losses could reach up to $14.5 billion. During the 2024/2025 crop year, Brazil exported 7.468 million bags of coffee to the US, making it the largest destination for Brazilian coffee exports, according to the Brazilian Coffee Exporters Council. The US accounted for 16.4% of Brazil's total coffee exports. In monetary terms, that amounted to $1.9 billion in coffee exports, along with $1.35 billion worth of meat. China's growing appetite for coffee appears to align with its latest move to expand imports from Brazil. According to data from the International Coffee Organization, coffee consumption in China grew by 15% in the latest season. At the same time, the number of branded coffee shops in the country surged by 58% over the past 12 months, reaching 49,691 outlets, according to market intelligence firm Alegra Group. The rapid expansion signals China's emergence as a key growth market for global coffee producers. Trump has defended the steep tariffs on Brazilian goods, citing what he called a 'witch hunt' against former President Jair Bolsonaro, despite the fact that the US ran a $6.8 billion trade surplus with Brazil in 2024. Trump had previously justified his trade policies by claims that he intended to correct trade imbalances.
Russia Today
4 hours ago
- Russia Today
US to pilot $15,000 visa deposit scheme
The US is launching a pilot program that will require foreign nationals from certain countries to pay up to $15,000 for a tourist or business visa, according to a notice posted in the Federal Register on Tuesday. US President Donald Trump has made illegal immigration a central focus of his presidency, vowing to deport millions of undocumented migrants. His administration has expanded border security, tripled Immigration and Customs Enforcement detention funding, cut humanitarian programs, and detained thousands of illegal migrants. In June, Trump also fully or partially barred entry for citizens of 19 nations on security grounds and imposed a mandatory 'integrity fee' on all nonimmigrant visa applicants. Under the new program, which begins August 20, US consular officers may require visa bonds of $5,000 to $15,000 from certain travelers. Running for a year, the program applies to B-1 and B-2 travelers from countries with high visa overstay rates, limited vetting data, or citizenship-by-investment programs without residency requirements. Bond amounts will be based on applicants' 'personal circumstances', including travel purpose, employment, income, skills, and education. The list of targeted countries is expected to be released later on Tuesday. The State Department said it could not precisely estimate how many applicants will be affected, but expects around 2,000 to post bonds during the trial period. Many countries from Trump's earlier travel ban have high overstay rates, including Chad, Eritrea, Haiti, Myanmar, and Yemen. A US Customs and Border Protection report published last year recorded more than 500,000 'Suspected In-Country Overstays' in 2023. Mexico led with 49,000 overstays, followed by Colombia with 41,000, and Brazil, Haiti, Venezuela, and the Dominican Republic with more than 20,000 each. Analysts have warned that Trump's immigration crackdown could damage the economy. Moody's chief analyst Mark Zandi said on Sunday that the country is 'on the precipice' of a recession partly due to Trump's immigration policies, cautioning that 'fewer immigrant workers means a smaller economy.' The Economic Policy Institute estimated that his mass deportation plans could eliminate nearly 6 million jobs, disrupt business operations, and cut demand for both immigrant and US-born labor.
