India will continue to pay tariffs over Russian oil: Trump
What's the story
United States President Donald Trump has warned India of "massive" tariffs if it doesn't cut its imports of Russian crude oil. Speaking on Air Force One, Trump claimed he spoke to Indian Prime Minister Narendra Modi about the issue. When asked about India's denial of such a conversation, Trump said, "But if they want to say that, then they'll just continue to pay massive tariffs."
Geopolitical pressure
Trump's threat links US goals to economic consequences for India
Trump's threat connects to Washington's goal of reducing Moscow's oil revenue, which the US president claims is used to fund the war in Ukraine. The Trump administration has already raised tariffs on several Indian goods to a record 50%. A 25% tariff was imposed, citing Russian oil purchases as the reason. The president had earlier claimed that India had "de-escalated and more or less stopped" buying oil from Russia.
Claim
Modi assured me India will stop buying Russian oil: Trump
Last week, Trump claimed that Indian Prime Minister Narendra Modi has assured him that India will stop buying oil from Russia. Speaking at the White House, Trump said he was not happy with India's purchase of Russian crude, which he believes funds President Vladimir Putin's war efforts in Ukraine. But "he (PM Modi) assured me today that they will not be buying oil from Russia. That's a big step," he said.
Energy policy
India shut down Trump's claim
However, India shut down the claim hours later, stating that there was a conversation or a telephone call between Prime Minister Modi and President Trump. The MEA also emphasized that India's import policies are focused on protecting the interests of Indian consumers in a volatile energy market. MEA spokesperson Jaiswal said, "Our import policies are guided entirely by this objective." He also said that ensuring stable energy prices and secured supplies have been the twin goals of our energy policy.