India buys oil from Russia.
The US has doubled tariffs on many Indian products from 25 to 50 percent. According to Peter Navarro, the White House trade advisor, these special tariffs, intended as punishment for India's oil imports from Russia, have taken effect. With this move, implementing one of the highest tariff rates against a trade partner, US President Trump aims to penalize India for its continued energy purchases from Russia. According to a report on the Tagesschau online platform, the background is an attempt to curb Russia's revenue from energy exports, which finances the war in Ukraine.
India is the largest buyer of Russian oil after China. Since the beginning of the Ukraine war, the share of Russian oil in India's imports has risen from 2 to nearly 36 percent. Russia's Deputy Prime Minister Denis Manturov recently emphasized that deliveries – including of coal and gas – would continue. Media reports about a potential reduction in imports contrast with India's official stance of continuing to buy raw materials wherever they are cheapest. Due to Western sanctions, Russia is forced to sell its oil at a significant discount.
The US tariffs do not apply to all imports; exceptions exist for products such as pharmaceuticals and computer chips. For these goods, Trump plans to impose separate global tariffs.
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