Trump threatens India with new tariffs over trading with Russia

"(Prime Minister Narendra — ed.) Modi is a very good man. He's a good guy. He knew I was unhappy. And it was important to make me happy. They (India and Russia — ed.) do trade, and we can raise tariffs on them very quickly," Trump said.

Indian and US economists and diplomats are currently working on a new large-scale trade agreement between the two countries.

US pressure on India

Earlier, the US raised tariffs on most Indian goods to 50%, partly linking the extra tariffs to India's purchases of Russian energy resources and weapons. This significantly affected the Indian companies that actively export goods to the US market.

In November, the Indian energy giant Reliance Industries had completely halted imports of Russian oil in compliance with international sanctions. However, the supplies have since resumed.

In particular, tankers carrying nearly 2.2 million barrels of Russia's Urals were spotted en route to India's largest oil refinery.

In early January, India also asked oil refiners to disclose information on their purchases of Russian and US oil, as New Delhi seeks to secure a trade agreement with Washington.

According to Reuters, the origin of oil purchases by Indian companies is typically reflected in monthly customs data and private-sector analytical reports. However, this marks the first time the government has sought to obtain such information weekly.