Trump Targets India's Russian Oil Trade with Tariff Hike
Former U.S. President Donald Trump announced plans to raise tariffs on India due to its robust trade of Russian oil. Trump criticized India's profiteering from Russian oil sales on the open market, while people suffer in Ukraine. The tariffs are intended as a financial deterrent.
Devdiscourse News Desk | Washington DC | Updated: 04-08-2025 20:28 IST | Created: 04-08-2025 20:28 IST
- Country:
- United States
In a bold move, former U.S. President Donald Trump announced on Monday his intention to significantly increase tariffs on India because of its extensive transactions involving Russian oil.
Trump alleged that India has been heavily purchasing Russian oil and profiting by reselling it on the open market. He expressed his discontent with India's actions, especially as the conflict in Ukraine continues to cause casualties.
The former president's statement on Truth Social signaled a decisive move to hike tariffs against India as a response to their dealings with Russia, framing it as a moral and economic issue.
(With inputs from agencies.)
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