Trump said the US may not impose secondary tariffs on countries importing Russian oil, a move that could have hit India.
Treasury Secretary Scott Bessent earlier warned penalties on India could rise if talks with Russia failed.
India’s MEA called the targeting of India “unjustified and unreasonable” as 50% tariffs, including on oil, are set to apply from August 27.
Trump Hints US May Not Impose Secondary Tariffs On India For Russian Oil
President Donald Trump suggested the US could hold back on additional sanctions targeting India’s Russian oil imports, even as existing tariffs take effect from August 27.
Summary
President Donald Trump has suggested that the United States may hold back from imposing additional secondary tariffs on countries continuing to import crude oil from Russia, a move that was widely expected to affect India.
According to PTI, Trump made the remarks during an interview with Fox News aboard Air Force One on Friday, while travelling to Alaska for a summit meeting with Russian President Vladimir Putin. The meeting concluded without any agreement on steps to end the Russia-Ukraine war.
“[Putin] lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot…And if I did what's called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I'll do it. Maybe I won't have to do it,” Trump said.
The US president’s comments come days after Treasury Secretary Scott Bessent signalled that New Delhi could face higher penalties if talks with Moscow did not yield progress.
In an interview with Bloomberg on Wednesday, Bessent said, “I think everyone has been frustrated with President Putin. We expected that he would come to the table in a more fulsome way. It looks like he may be ready to negotiate. And we put secondary tariffs on the Indians for buying Russian oil. And I could see, if things don't go well, then sanctions or secondary tariffs could go up.”
Bessent added that Washington’s approach on sanctions remains flexible: “Sanctions can go up, they can be loosened. They can have a definitive life. They can go on indefinitely.”
PTI reported that Trump has already announced tariffs totalling 50 per cent on India, including a 25 per cent levy on Delhi’s procurement of Russian crude, set to take effect from August 27.
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Responding to the move, India’s Ministry of External Affairs described the targeting of India as “unjustified and unreasonable.” In a statement, the ministry said, “Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.”
(With inputs from PTI)
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