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Trump said that India is selling cheaper oil from Russia and selling it at huge profits in the open market.
US President Donald Trump has threatened to put more tariffs on India. He said on Monday that India is buying cheap oil from Russia and selling it in the open market with profits.
Trump said that India does not care about how many people are being killed in Ukraine due to Russia’s attack. For this reason, I will increase the tariffs on India hugely.
Earlier, the US President said on Friday that there are reports that India will not buy oil from Russia for long.
In fact, some media reports claimed that India had almost stopped buying oil from Russia due to American pressure and increase in price. However, dismissing these claims, ANI had said that Indian companies are still buying oil from Russia.
On this whole issue, the Indian Ministry of External Affairs said that the countries criticizing India are doing a lot of business with Russia, without any compulsion.
India said- will take every necessary steps for economic security
The Government of India has said that the US and European Union (EU) are criticizing India for buying oil from Russia, which is not right.
India clearly said that it will take every necessary steps to maintain its national interests and economic security. India’s criticism is wrong.
The Ministry of External Affairs said that after the commencement of Ukraine War, India had to buy oil from Russia, as its old oil suppliers started supplying to Europe. At that time, America had encouraged India to do so.
India said that in 2024, EU traded about 85 billion euros with Russia. Similarly, the US is importing uranium hexaphloride from Russia for its nuclear industry, paladium, fertilizer and chemical for electric vehicle industry.
Trump’s advisor said- India is not treating honesty
US President Trump advisor Stephen Miller today said that India is not being honest with America.
Miller said in an interview on Fox News that India calls itself our close country, but despite this it does not approve our goods and imposes heavy tariffs on American goods.
Miller further stated that India incorrectly takes advantage of the immigration policy of America and now buying oil from Russia and fasting the Ukraine war indirectly.
Miller’s statement comes at a time when America is pressurizing India to buy oil from Russia. Miller said that India has now become a big customer of Russia like China, which is a surprising thing.
Although Stephen Miller also admitted that Trump and Modi’s relationship had been very good, but he clearly stated that if India did not balance, the US has all the options open.
Reuters claim- Indian companies less profit
Reuters said in their report on July 30 that Indian oil companies such as Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum have stopped the purchase of oil from Russia, as the discounts are decreasing and there are problems in shipping.
It also said that crude oil has not been demanded from Russia in the last one week. Indian refineries are buying less Russian crude oil, as the discount from there has become the lowest since 2022.
Now the refineries are afraid that the new restrictions on Russia may cause difficulties in foreign trade. The European Union imposed new sanctions on Russia on 18 July. Which includes measures to harm more to the Russian oil and energy industry.
The European Union is trying to keep the price of Russian oil 15% less than the market price.
American oil import doubles after tariff announcement
After Trump’s tariff announcement in April, India has doubled the purchase of crude oil from the US. It increased by 114% on an annual basis in the April-June quarter.
At the same time, the National Pharmaceutical Pricing Authority (NPPA) has reduced the prices of 37 essential medicines by 10-15%. These include drugs such as paracetamol, atorvastatin and amoxicillin, which are essential for patients with heart, diabetes and infections.
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25% tariff of Trump on India postponed 7 days: Relief to 90 countries, but 35% tariff from Canada today; Not China in the list
US President Donald Trump has postponed 25% tariff on India for 7 days. This was to be implemented from today, which will now be applicable from 7 August.
Trump has released a list of new tariffs on 92 countries. It has 25% tariff on India and 19% on Pakistan. However, 35% tariff has been implemented on Canada from today itself.
Pakistan has the lowest tariff in South Asia. The US had earlier put 29% tariff on Pakistan. Read the full news here …
