Donald Trump, the former US President, has renewed his warning to India concerning its ongoing oil imports from Russia. Trump stated that India will continue to incur ‘massive tariffs’ if it does not halt its Russian crude purchases. This is the third instance where Trump has voiced such a concern, linking it to an alleged pledge from Prime Minister Narendra Modi.
According to media reports quoting Trump, Prime Minister Modi informed him that India would stop acquiring Russian oil. Trump, however, suggested that non-compliance would result in continued ‘massive tariffs,’ implying that India wishes to avoid these financial penalties. He elaborated on the existing tariff structure, noting, ‘The 79-year-old Republican president has imposed 25 per cent tariffs on India for procuring Russian oil, taking the total duties on New Delhi to a whopping 50 per cent.’
India has contested the fairness of these tariffs, while the Trump administration has defended its decision. The Indian Ministry of External Affairs has publicly refuted Trump’s claim of a conversation with Prime Minister Modi, stating they have ‘no knowledge of any such discussion.’ The government maintains that its primary objective is to ensure energy security and affordability for Indian citizens.
Russia has emerged as India’s foremost oil supplier following the outbreak of the Ukraine war, a development that has drawn criticism from Western nations. Market analytics show Russia accounting for 34% of India’s crude oil imports. Recent figures indicate a marginal reduction in these imports over the past few months, though Russia remains the largest contributor to India’s oil supply.