In an executive order issued Wednesday, President Donald Trump imposed an additional 25% tariff on India's imports of Russian oil, increasing the overall tariff on Indian goods entering the United States to 50%. This level of tariffs is among the highest imposed by the US in recent history. The order specifies that the new rate will take effect 21 days after its announcement.
In the executive order, Trump emphasized the national security concerns posed by Russia's actions in Ukraine, stating that India's continued importation of Russian oil undermines US efforts to combat Russia's aggressive activities.
The White House's press release elaborated that India's importation and potential resale of Russian oil enable the Russian economy to continue funding its military aggression in Ukraine. As part of this directive, the US will also monitor oil imports from other countries and may recommend additional measures based on findings.
This tariff announcement comes on the heels of diplomatic talks led by Trump's envoy Steve Witkoff in Moscow, aimed at forging peace between Russia and Ukraine. India has previously criticized the US for threatening tariffs linked to its Russian oil purchases, labeling the action as "unjustified and unreasonable."
India's foreign ministry spokesperson, Randhir Jaiswal, remarked that the US had previously encouraged India to import Russian gas to stabilize global energy markets when traditional supply routes were disrupted by the war. India has also pointed out the inconsistency in the US's stance as the United States continued to trade approximately $3.5 billion worth of goods with Russia over the past year despite existing sanctions.
In conclusion, India reiterated its commitment to safeguard its economic interests, asserting that it would take necessary steps to secure national economic security amidst these geopolitical tensions.
In the executive order, Trump emphasized the national security concerns posed by Russia's actions in Ukraine, stating that India's continued importation of Russian oil undermines US efforts to combat Russia's aggressive activities.
The White House's press release elaborated that India's importation and potential resale of Russian oil enable the Russian economy to continue funding its military aggression in Ukraine. As part of this directive, the US will also monitor oil imports from other countries and may recommend additional measures based on findings.
This tariff announcement comes on the heels of diplomatic talks led by Trump's envoy Steve Witkoff in Moscow, aimed at forging peace between Russia and Ukraine. India has previously criticized the US for threatening tariffs linked to its Russian oil purchases, labeling the action as "unjustified and unreasonable."
India's foreign ministry spokesperson, Randhir Jaiswal, remarked that the US had previously encouraged India to import Russian gas to stabilize global energy markets when traditional supply routes were disrupted by the war. India has also pointed out the inconsistency in the US's stance as the United States continued to trade approximately $3.5 billion worth of goods with Russia over the past year despite existing sanctions.
In conclusion, India reiterated its commitment to safeguard its economic interests, asserting that it would take necessary steps to secure national economic security amidst these geopolitical tensions.
