New Delhi has not instructed its refiners to stop buying Russian crude despite Washington’s demands.
President Donald Trump announced on Aug. 4 that he would “substantially” raise tariffs on goods from India, citing the country’s continued purchase of Russian oil despite his demand that it stop.
The president’s comments come as he seeks to broker a deal that would end Russia’s war in Ukraine by Aug. 8.
“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits,” Trump wrote on his Truth Social platform. “They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA.”
This past week, Trump announced a 25 percent tariff on Indian goods on top of an unspecified penalty for buying Russian oil and weapons.
Oil exports have become a vital source of revenue for Russia, as it seeks to sustain its war effort in Ukraine amid sweeping Western sanctions that are putting its economy under considerable strain. Taking advantage of the sanctions, India has surpassed China to become the largest buyer of Russian crude, accounting for more than one-third of Russia’s crude oil exports last year.
In 2023, Russian oil made up nearly 40 percent of India’s oil imports, a dramatic increase from just 3 percent in 2021, before the long-running conflict between Russia and Ukraine escalated into a full-scale war.
U.S. Secretary of State Marco Rubio has called India’s relationship with Russia a “point of irritation” in India–U.S. relations. In a Fox News Radio interview this past week, Rubio acknowledged India’s energy needs and Russia’s discounted oil prices but stressed that these purchases were keeping Russia’s war machine running.
“I think what you’re seeing [Trump] express is the very clear frustration that with so many other oil vendors available, India continues to buy so much from Russia,” he said.
By Bill Pan
