On Friday, U.S. President Donald Trump met with Russian President Vladimir Putin in Alaska. Although no agreement was reached to stop the conflict, the dialogue between the two leaders was fruitful. Trump stated that there is no immediate need to consider new tariffs on countries purchasing Russian oil, such as China, but warned he might reconsider this matter 'in two or three weeks.'
Speaking to Fox News about the new tariffs, Trump mentioned that today's developments mean it might not require much thought. In two or three weeks or thereafter, I might have to revisit the issue, but for now, there's no urgency. According to Reuters, Trump's comments targeted buyers of Russian oil.
Trump’s Remarks on India
Donald Trump claimed that his decision to impose hefty import tariffs on India prompted Russia to seek a meeting. Trump stated, 'When I told India we would impose tariffs due to their trade with Russia and oil purchases, it pressured Russia into desiring a meeting.'
The U.S. President argued that losing India, Russia's second-largest customer, forced Russia back to the negotiating table. He noted that India is the second-largest customer and was catching up to China. China is the largest buyer of Russian oil.
India’s Stand on Russian Oil Purchases
Meanwhile, India has firmly refused to alter its oil purchasing policy. A.S. Sahni, chairman of Indian Oil Corporation, stated on Thursday that there are no restrictions on importing oil from Russia, and purchases will continue on an economic basis. The Ministry of External Affairs labeled Trump's tariffs as unjust and vowed to protect national interests.
50% Tariff on India from August 27
Significantly, U.S. President Donald Trump imposed a 25% tariff on India last week, announcing a further 25% increase effective from August 27, raising the total tariff on India to 50%.
