According to Times of India data, India sources about 35% of its crude oil from Russia, reaching its highest import level in the past two years in June. The U.S. has sanctioned Russian oil producers and tankers due to the war in Ukraine.
U.S. President Donald Trump announced on his Truth Social platform on Wednesday that he plans to impose a 25% tariff on products imported from India and apply additional taxes due to its purchase of Russian oil.
In his post, Trump said, “Remember, even though India is our friend, we’ve had very little trade with them over the years because their tariffs are one of the highest in the world.” He also harshly criticized India’s “extreme and burdensome” trade barriers.
Additionally, India imports an estimated $80 billion (approximately 70 billion euros) worth of military equipment from Russia annually, including fighter jets, missile systems, submarines, and helicopters.
Trump criticized India, stating, “A large part of India’s military relies on Russian weapons, and they are Russia’s biggest energy customer, while everyone else wants Russia to stop the killing in Ukraine.” He announced that starting Friday, an additional “penalty tax,” which has not yet been detailed, would be implemented as part of the new tariffs on India.
India maintains close ties with Russia and has not supported the Western sanctions on Moscow over the war in Ukraine. In early July, NATO Secretary General Mark Rutte warned during a meeting at the White House that India, China, and Brazil could face “secondary sanctions” if they continue to buy Russian oil.
