In a great failure to India, US President Donald Trump announced a 25% tariff on imports of Indian goods and other “punishment” for the purchase of “the vast majority of his military equipment from Russia”.
Said Trump India is Russia “The largest energy buyer, along with China, at a time when everyone wants Russia to stop killing in Ukraine – all things are not good!”.
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As a reason for the high rate of tariffs, 25%also quoted “massive business deficit with India”. He added that he had us “with India made very little tradeTheir tariffs are too high, among the highest in the world. ”
A day later, however, the US President informed that the tariff of interviews with India is still on it, which increases hope of relaxation. “I understand that India will no longer buy oil from Russia. I have heard that. I don’t know if it’s right or not. That’s a good step. We’ll see what happens …” he said on Thursday.
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But will India stop buying oil from Russia?
If India stops buying oil from Russia, there was no official hint. However, Indian government sources on Saturday told Reuters on Saturday that India would buy oil from Russia and there were no immediate changes.
These sources, which did not give up the pressure of Trump, quoted the following reasons for buying oil from Russia:
1. “These are long -term oil contracts,” one of the sources said. “It’s not so easy to stop buying overnight,” they added.
2. The second source, which justified Indian oil purchases from Russia, said that the import of Russian years of India helped avoid the global increase in oil prices that remained subdued despite Western curbs in the Russian oil sector.
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3. “Unlike Iranian and Venezuelan oil, Russian oil is not subject to.
4. Meanwhile, sources reported on the news agency or that Indian energy decisions were led by national interest, but also positively contributed to global energy stability.
“Indian purchases remained fully legitimate and within international standards,” they added.
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5. These sources said: “If India absorbs discounted Russian oil in combination with a reduction in OPEC production of $ 5.86 MB/D, global oil prices could increase far beyond March 2022 of $ 137/BBL, which intensive inflation pressures around the world.”
6. Meanwhile, Randhir Jaiswal, an official spokesman for the Ministry for External Affairs, said 1 August lighting on the energy source requirements in India.
“You are aware of our wide approach that we are looking at what is available in the markets, what is in the offer, and the prevailing global situation or circumstances,” he said.
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How much does India buy from Russia?
India is the second largest importer of Russian oil in China. According to The New York Times, Russia is currently a source of more than a third of Indian oil imports, which is less than 1 percent before the war.
The Message Niti Aayog’s April-June (Q1 FY2025) He revealed that in Q1 FY25 India has seen significant imports of imports with Russia (19.69%).
India imported about 1.75 million barrels of Russian oil from January to June in 2025, which, according to data provided by the agency agency provided to the Reuters agency.
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Meantime, Economy He quoted the UN COMTRADE database of international trade because it revealed that Indian imports from Russia oil were $ 52.73 billion during 2024.
In 2023, Russia was among the best business partners of India. According to Trend economyRussia contributed 26% ($ 58 billion) to Indian imports (“mineral fuels, mineral oils and their distillation products; bituminous substances; mineral waxes).
Us among the best importers of Indian goods
While India is one of Russia and China’s highest importers, countries are among the best exporters in the US.
India remains an essential exporter of refined oil products and other mineral fuels. “The primary objectives for these exports include the Netherlands, the United Arab Emirates and the United States,” Niti Aayog said.
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The US is one of the best importers of Indian goods, which represents almost 33% of total exports of goods, according to the Niti report Aayog.
It turned out that The US is the highest Indian destination in these categories: Minerals of fuel and products, natural or cultivated pearls, electric machines and equipment, nuclear reactors, pharmaceutical products.
Message Niti Aayog’s April-June (Q1 FY2025)
This is contrary to the statement of Trump “Little Business with India”.
The message He also revealed that “there is a significant potential for Indian services exporters to expand his presence on the main export markets such as the US.”
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What are tariffs?
Tarifs are taxes imposed by the government (in this case the US government) on goods and services imported from other countries. These are simply other costs added to foreign products when they enter the country.
How do tariffs work?
1. What impact do tariffs have on (USA) an economy that deposits them?
Foreign goods are relatively more expensive and may increase the demand for domestic products.
“The tariffs give the price advantage of locally produced goods over the similar goods that are imported and increase revenue for governments,” according to the World Trade Organization (WTO).
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However, some domestic industries can rely on imported materials and parts. In this case, the increase in prices of imported materials and parts would lead to facing higher production costs (domestic manufacturers).
“If domestic manufacturers hand over higher consumer production costs, it will also increase the prices of goods produced on the domestic market,” Oxford economy explains.
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2. What impact do tariffs have on the economies on which they are stored (in this case India)?
There is a possibility of lower demand for exports where tariffs are deposited in the country, because their goods have become relatively more expensive in the import country (USA).
(Tagstotranslate) Russian oil
