Trump plans to keep heavy tariffs on India until full cutoff of Russian oil
US President Donald Trump (photo: Getty Images)
US President Donald Trump intends to keep 50% tariffs on Indian imports as long as the country continues buying Russian oil, Reuters reports.
Trump's statement on talks with Modi
Trump reiterated his claim that Indian Prime Minister Narendra Modi had promised to stop purchasing Russian oil.
"I spoke with Prime Minister Modi of India, and he said he's not going to be doing the Russian oil thing," Trump told reporters aboard Air Force One.
He added that if India decides to deny the conversation took place, it will face "massive" tariffs.
"But if they want to say that, then they'll just continue to pay massive tariffs, and they don't want to do that," the American leader emphasized.
India does not confirm
Trump first mentioned a phone conversation with Modi on October 15, claiming that the prime minister had personally promised to end imports of oil from Russia.
However, India's Ministry of External Affairs said it had no information about any phone contact between the two leaders.
Officials in New Delhi stressed that India's main priority is to "safeguard the interests of the Indian consumer."
Nevertheless, Trump continues to insist that Modi made the promise and links the issue to the US tariff policy.
Oil imports and analysts' data
A White House official said that India has already reduced its purchases of Russian oil by about half.
However, sources in India denied this, noting that no significant changes have occurred so far.
According to data from the analytical company Kpler, Russian oil shipments to India in October are expected to rise by about 20% to 1.9 million barrels per day. The increase in supplies is linked to Russia boosting exports after Ukrainian drone attacks damaged its refineries.
Russian oil
Russian oil remains one of the primary sources of tension between Washington and New Delhi.
Half of the 50% tariffs imposed by the United States on Indian goods are in response to India's continued purchases of Russian oil. According to US officials, revenues from energy exports allow Russia to finance its war against Ukraine.
After sanctions and the refusal of Western countries to buy oil from Moscow, India became the largest buyer of Russian crude, which is sold at a discount.
