US President Donald Trump claimed that his administration’s imposition of steep tariffs on India for purchasing Russian oil influenced Moscow’s decision to request a meeting with Washington, citing the loss of Russia’s “second largest customer.”
Speaking to Fox News on Thursday, ahead of a high-profile meeting with Russian President Vladimir Putin in Anchorage, Alaska, Trump stated, “When you lose your second largest customer, and you’re probably going to lose your first largest customer, I think that probably has a role.” He suggested that the tariffs, which escalated to 50% after an additional 25% levy on Indian imports effective August 27, pressured India to reconsider its oil trade with Russia, impacting Moscow’s willingness to negotiate.
India, however, refuted claims of halting Russian oil imports. AS Sahney, Chairman of Indian Oil Corporation, emphasized that purchases continue based solely on economic considerations, stating, “We continue to buy, purely based on economic considerations, that is to say if the pricing and characteristics of the crude make sense in our scheme of processing, we buy.”
India’s Ministry of External Affairs called the US tariffs “unjustified and unreasonable,” asserting that India will take all necessary measures to safeguard its national interests and economic security. The ministry highlighted that India’s oil imports are driven by the need to ensure affordable energy for its 1.4 billion people, a stance unchanged despite the tariffs affecting $40 billion in non-exempt exports to the US.
Trump’s tariffs, announced last week, aim to curb India’s energy ties with Russia, which he claims fuel Moscow’s war in Ukraine. India, alongside China, remains a major buyer of Russian oil, with imports reaching $52.7 billion in 2024, according to the Brookings Institution.
Despite Trump’s assertion that the tariffs prompted Russia’s outreach, India’s continued imports and firm stance underscore its commitment to strategic autonomy. As global markets brace for the economic fallout, with analysts warning of potential oil price spikes and US recession risks, the upcoming US-Russia talks will test the effectiveness of Trump’s tariff strategy in reshaping geopolitical alignments.
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