US imposes second 25pc tariff on India over Russian oil imports as first takes effect today
The tariff, set to take effect in three weeks, comes on top of a separate 25 per cent duty entering into force on Thursday, according to the text of the executive order released by the White House.
The order also threatens potential penalties on other countries deemed to be 'directly or indirectly importing Russian Federation oil.'
Exemptions remain for items targeted by separate sector-specific duties such as steel and aluminum, and categories that could be hit like pharmaceuticals.
Trump has been ramping up pressure on India after signaling fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, as Russia's devastating invasion of its pro-western neighbor drags on.
India's national security adviser was in Moscow on Wednesday, media in New Delhi reported, coinciding with a visit by US envoy Steve Witkoff.
India's foreign ministry earlier said US pressure to stop it buying Russian oil was 'unjustified and unreasonable' and that it would protect its interests. — AFP
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The Star
3 hours ago
- The Star
Trump-backed peace push leaves Azerbaijan and Armenia one step from final accord, top diplomat says
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The Star
9 hours ago
- The Star
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The Star
10 hours ago
- The Star
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