US President Donald Trump has threatened to impose more tariffs on India. He said on Monday that India is buying cheap oil from Russia and selling it profitably in the open market.
Trump said that India does not care how many people are being killed in Ukraine due to Russia's attack. For this reason, I will increase the tariff on India heavily.
Earlier, the US President had 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 has almost stopped buying oil from Russia due to US pressure and rising prices. However, rejecting these claims, ANI had said that Indian companies are still buying oil from Russia.
The Indian Foreign Ministry said on this entire issue that the countries criticizing India are themselves doing a lot of business with Russia, that too without any compulsion.
India said - will take every necessary step for economic security
The Indian government has said that the US and the European Union (EU) are criticizing India for buying oil from Russia, which is not right.
India clearly said that it will take every necessary step to maintain its national interests and economic security. Criticism of India is wrong.
The Ministry of External Affairs said that after the Ukraine war started, India had to buy oil from Russia, as its old oil suppliers started supplying to Europe. At that time, the US had encouraged India to do so.
India said that in 2024, the EU traded about 85 billion euros with Russia. Similarly, the US is importing uranium hexafluoride from Russia for its nuclear industry, palladium for the electric vehicle industry, fertilizers and chemicals.
Trump's advisor said - India is not behaving honestly
US President Trump's advisor Stephen Miller has said today that India is not behaving honestly 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 said that India takes advantage of America's immigration policy and is now indirectly funding the Ukraine war by buying oil from Russia.
Miller's statement has come at a time when America is pressuring India to buy oil from Russia. Miller said that India has now become a big customer of Russia like China, which is surprising.
Although Stephen Miller also admitted that the relationship between Trump and Modi has been very good, but he clearly said that if India does not maintain balance, then America has all the options open.
Reuters claims - Indian companies get less benefit
Reuters said in its report on July 30 that Indian oil companies like Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum have stopped buying oil from Russia, as discounts are decreasing and there are problems in shipping.
It also said that there has been no demand for crude oil from Russia in the last one week. Indian refineries are buying less Russian crude oil, as the discounts from there have fallen to the lowest since 2022.
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Now refineries fear that the new sanctions imposed on Russia may cause difficulties in foreign trade. The European Union imposed new sanctions on Russia on 18 July. Which also includes measures to further damage the Russian oil and energy industry.
The European Union is trying to keep the price of Russian oil 15% lower than the market price.
US oil imports doubled after tariff announcement
After Trump's tariff announcement in April, India has doubled its crude oil purchases from the US. In the April-June quarter, it has increased by 114% on an annual basis.
At the same time, the National Pharmaceutical Pricing Authority (NPPA) has reduced the prices of 37 essential medicines by 10-15%. These include medicines like paracetamol, atorvastatin and amoxicillin, which are essential for heart, diabetes and infection patients.
