India gets another 25pc US tariff over Russian oil purchases

WASHINGTON: US President Donald Trump on Wednesday signed an executive order to impose an additional 25 per cent tariff on India over New Delhi’s continued purchase of Russian oil, a key revenue source for Moscow’s war in Ukraine.

The tariff is set to take effect in three weeks and would be added on top of a separate 25 per cent tariff entering into force on Thursday.

“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” Trump said in the executive order.

“Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent,” the executive order reads.

However, it maintains exemptions for items targeted by separate sector-specific duties such as steel and aluminum, and categories that could be hit like pharmaceuticals.

Meanwhile, India is now among a selected group of countries, which have tan unwanted distinction of having highest levies on any of the US trading partners.

RUSSIAN WAR MACHINE

On Monday, Trump had made his intentions clear, saying he would substantially raise tariffs on India over its purchases of Russian oil.

Read more: Trump to ‘substantially’ raise tariffs on India over Russian oil

Moreover, he said India was not only buying massive amounts of Russian oil. It was selling much of the purchased Russian oil in the open market for big profits, the US president added.

“They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump said in a post on Truth Social.

ADANI+RUSSIAN OIL+MODI

The news comes, as Congress leader Rahul Gandhi explained why Indian Prime Minister Narendra Modi cannot stand up to Trump.

He just linked the dots: Gautam Adani, Russian oil and Modi.

Read more: US probe into Adani means Modi can’t resist Trump: Rahul

INDIAN ARGUMENT REJECTED

Meanwhile, the latest move means Trump has completely ignored the Indian position.

On Monday, India’s external affairs ministry said that the United States and European Union were “targeting” it due to its buying of Russian oil, adding that the moves were “unjustified” and that it would protect its interests.

“The targeting of India is unjustified and unreasonable,” External Affairs Ministry spokesperson Randhir Jaiswal said in a statement.

“Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.”