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Time of India
2 days ago
- Business
- Time of India
"Russia lost an oil client, which is India," says Trump on sanctions threat
Donald Trump spoke about Russia's economy. He mentioned India's reduced oil imports from Russia. Trump considered imposing secondary sanctions. This followed a 50% tariff on Indian imports. The US cited India's oil trade with Russia as a concern. India's Ministry of External Affairs called the US action unfair. India stated it would protect its national interests. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Washington: US President Donald Trump , in an interview with Fox News, said that Russia lost India as an oil client while discussing the economic aspect of Russian President Vladimir Putin coming to the table for asked about the economic side of Putin's negotiations, Trump referred to India's role, saying, "Well, they lost an oil client so to speak, which is India, which was doing about 40% of the oil, China as you know is doing a If I did secondary sanctions, it would be devastating from their standpoint. If I have to do it, I'll do it, maybe I won't have to do it," during the interview aboard Air Force comments follow his recent decision to impose a 50% tariff on Indian imports, citing New Delhi's oil trade with Russia Just days earlier, on August 7, the US President had announced an additional 25 percent tariff against India, and later hinted that more "secondary sanctions" could be imposed in connection with the same being asked, 'Indian officials have said that there are other countries that are buying Russian oil, like China, for instance. Why are you singling India out for these additional sanctions', US President Donald Trump had said, "It's only been 8 hours. So let's see what happens. You're going to see a lot going to see so much secondary sanctions."He also hinted that US administration could impose "more" similar sanctions on being asked, 'On the Indian penalties, do you have any similar plans to enact more tariffs on China', US President Donald Trump says, "Could happen. Depends on how we do. Could happen."US President Donald Trump last week signed an Executive Order imposing an additional 25 per cent tariff on imports from to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United the order, the total tariff on Indian goods will be 50 per cent. While the initial duty comes into effect on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific this announcement, the Ministry of External Affairs (MEA), in its response, termed the US's move as "unfair, unjustified and unreasonable", declaring that New Delhi will take "all actions necessary to protect its national interests."In an official statement, the MEA said, "The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.""It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest," the statement added. "We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA stressed.
News18
2 days ago
- Business
- News18
Russia lost an oil client, which is India, says Trump on sanctions threat
Washington [US], August 16 (ANI): US President Donald Trump, in an interview with Fox News, said that Russia lost India as an oil client while discussing the economic aspect of Russian President Vladimir Putin coming to the table for asked about the economic side of Putin's negotiations, Trump referred to India's role, saying, 'Well, they lost an oil client so to speak, which is India, which was doing about 40% of the oil, China as you know is doing a lot…and If I did secondary sanctions, it would be devastating from their standpoint. If I have to do it, I'll do it, maybe I won't have to do it," during the interview aboard Air Force comments follow his recent decision to impose a 50% tariff on Indian imports, citing New Delhi's oil trade with Russia. Just days earlier, on August 7, the US President had announced an additional 25 percent tariff against India, and later hinted that more 'secondary sanctions" could be imposed in connection with the same being asked, 'Indian officials have said that there are other countries that are buying Russian oil, like China, for instance. Why are you singling India out for these additional sanctions', US President Donald Trump had said, 'It's only been 8 hours. So let's see what happens. You're going to see a lot more…You're going to see so much secondary sanctions." He also hinted that US administration could impose 'more" similar sanctions on being asked, 'On the Indian penalties, do you have any similar plans to enact more tariffs on China', US President Donald Trump says, 'Could happen. Depends on how we do. Could happen."US President Donald Trump last week signed an Executive Order imposing an additional 25 per cent tariff on imports from to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an 'unusual and extraordinary threat" to the United the order, the total tariff on Indian goods will be 50 per cent. While the initial duty comes into effect on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific this announcement, the Ministry of External Affairs (MEA), in its response, termed the US's move as 'unfair, unjustified and unreasonable", declaring that New Delhi will take 'all actions necessary to protect its national interests."In an official statement, the MEA said, 'The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India."'It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest," the statement added. 'We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA stressed. (ANI)
