Trump's Tariff Hike: US-India Trade Tension Over Russian Oil

US President Donald Trump announced a significant tariff raise on India for importing Russian oil, accusing India of profiting from reselling. India defends its energy strategy, driven by market needs. Trump's decision shadows hopes for a trade agreement, potentially impacting global crude prices.

In a bold move, US President Donald Trump has declared a substantial increase in tariffs on India due to its purchase of Russian oil, accusing the South Asian nation of reselling for profit. This decision was announced on Trump's social media platform, Truth Social, following his earlier announcement of a 25% reciprocal tariff on India.

The Indian government has staunchly defended its right to craft its energy policy based on national interest, emphasizing market dynamics and current global conditions. MEA Spokesperson Randhir Jaiswal stated, 'Our energy sourcing is dictated by market availability and global situations. We are not aware of any specifics regarding Trump's penalties.'

Despite Trump's assertion that India might halt its Russian oil imports, Jaiswal reinforced that India's international relations are independent and should not be influenced by a third party. The imposition of tariffs and penalties could complicate the anticipated US-India trade deal, amid concerns over possible global crude price surges.

(With inputs from agencies.)