Trump to hike India's tariff over Russian oil buys
'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,' Trump wrote on social media Monday. 'They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA.'
Trump did not say by how much he would increase the levy. Last week, he announced a 25 per cent rate on Indian exports and vowed more duties if India continued to buy oil from Russia.
The US president's warning comes ahead of an August 8 deadline for Russia to reach a truce with Ukraine, with the administration threatening so-called secondary sanctions on countries that purchase Russian energy. Ukraine's allies view those purchases as helping to prop up Russian leader Vladimir Putin's economy and undercutting pressure on Moscow to end a war that is now in its fourth year.
India has been a top Trump target in the campaign to end the war. New Delhi has been defiant, however, with Prime Minister Narendra Modi — who previously enjoyed warm relations with Trump — responding by urging Indians to buy local goods and signalling that his country will continue to buy Russian oil.
'The targeting of India is unjustified and unreasonable,' said India's Ministry of External Affairs in a social media post later on Monday, accusing the EU and US of trading with Russia when it is 'not even a vital national compulsion.'
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