Former US President Donald Trump has once again cautioned India against its continued reliance on Russian oil, threatening the imposition of ‘massive tariffs.’ This statement marks the third public declaration by Trump on this matter, where he also referenced an alleged commitment from Prime Minister Narendra Modi to alter India’s energy sourcing.
Trump stated in remarks to reporters that Prime Minister Modi had assured him that India would cease its purchases of Russian oil. He warned that failing to do so would mean India would ‘continue to pay massive tariffs.’ The former president detailed the existing tariff regime, mentioning, ‘The 79-year-old Republican president has imposed 25 per cent tariffs on India for procuring Russian oil, taking the total duties on New Delhi to a whopping 50 per cent.’ India has previously described these tariffs as ‘unjustified.’
In response to Trump’s latest remarks, India’s Ministry of External Affairs has denied any knowledge of a conversation between Prime Minister Modi and the former president, contradicting his assertion. The Indian government has consistently stated that its energy procurement strategy is driven by the need to ensure stable and affordable energy supplies for its population.
Russia has ascended to become India’s top oil supplier since the beginning of the Ukraine conflict, a significant shift in global energy flows. According to industry trackers, Russian crude now constitutes 34% of India’s total oil imports. While there has been a slight dip in import volumes from Russia recently, it continues to be the largest source of crude for India.