Trump announces increased India tariff
India purchases 1.75 million barrels of Russian oil per day, refining that oil and selling it to many Western nations that have sanctioned Russian oil due to the war in Ukraine.
Last week, the US President stated he would impose a 25 per cent tariff on imported goods from India and added there would also be an unspecified penalty.
Two Indian government sources told Reuters over the weekend India will continue to purchase oil from Russia despite the threats.
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