US President Donald Trump said on Monday that the United States “will” enhance the tariff paid by India to a large extent to “purchase a huge amount of Russian oil on a large amount of large amounts”, stating that most of the oil purchased from Moscow is being sold “for big profits” in the open market.
Trump was announced on his social media platform Truth Social, a few days after the announcement of 25 percent mutual tariff on India and an unspecified punishment for importing oil from Russia.
“India is not only buying Russian oil on a large scale, for most of the oil purchased oil, selling it on the open market for large profits. They do not care how many people in Ukraine are being killed by Russian war machine. Because of this, I will increase the tariffs paid by India to the USA to a great extent. The US President said in the post.
India has defended its sovereign rights to conduct energy policy on the basis of national interest.
The government has clarified that India’s energy purchase is directed by market dynamics and national interests.
Mea spokesman Randhir Jiswal, while answering questions on Trump’s announcement to buy Russia oil last week, said, “You are aware of our comprehensive approach to energy sourcing requirements, that we are available in the market and looks at the prevailing global status. We do not know about any specifics.”
Responding to another query, Jaiswal said that India’s relations with any country are based on their merit and should not be seen through the lens of the third countries.
He said, “Our relations with any country are standing on their merit and they should not be seen from the prism of the third country. As far as India-Russia relations are concerned, we have a stable and time-tested partnership,” he said.
Responding to a query on Friday, Trump indicated that if India stops buying Russian, it would be a good step.
“I think India is no longer going to buy oil from Russia. This is what I have heard, I do not know whether it is right or not. It’s a good step. We will see what happens …” said Trump.
Trump announced a fine for imposing 25 percent tariffs on Indian goods and imposing a fine for import of Russian oil in the last week of July, even an interim Indo-American trade expectations that helped otherwise help to avoid high tariffs.
There is a possibility that global raw price prices may jump from a barrel 200 if India is stopped buying Russian oil, which will cause serious damage to consumers. (AI)
