US targeting India over Russian oil purchases is ‘unjustified and unreasonable': New Delhi
This came hours after US President Donald Trump said that Washington will substantially increase the tariffs imposed on goods imported from India over New Delhi's purchase and sale of Russian oil in the 'open market for big profit'.
Trump has been threatening to impose a so-called penalty on New Delhi for buying a large portion of its military equipment and fuel from Russia amid the war on Ukraine.
In response, India's Ministry of External Affairs stated that the nations criticising India are 'themselves indulging in trade with Russia'.
The US 'continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV [electric vehicle] industry, fertilisers as well as chemicals,' the ministry added.
It also pointed out that the European Union had bilateral trade of Euro 67.5 billion in goods with Russia in 2024.
'In addition, it had trade in services estimated at Euro 17.2 billion in 2023,' said the ministry. 'This is significantly more than India's total trade with Russia that year or subsequently.'
According to New Delhi, such trade is not even a vital national compulsion, unlike for India.
India 'began importing from Russia because traditional supplies were diverted to Europe' after the war on Ukraine broke out, the ministry highlighted.
'The United States at that time actively encouraged such imports by India for strengthening global energy markets stability,' it claimed.
It also pointed out that India is importing oil from Russia 'to ensure predictable and affordable energy costs to the Indian consumer', adding that it was a necessity 'compelled by [the] global market situation'.
'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' stated the foreign ministry.
Earlier in the day, Trump accused India of not caring about 'how many people in Ukraine are being killed by the Russian war machine' and warned of steep tariff hikes.
The penalty he has threatened to impose on India would be in addition to the 25% levy Washington announced on imported goods, as part of the so-called reciprocal tariffs on dozens of countries that have not finalised separate trade agreements with the US.
While the 25% reciprocal tariff was to take effect on August 7, the executive order signed by Trump on Thursday had made no mention of the 'penalty'.
The US president's comment on Monday came after Trump on Friday said that he had heard that India was ' no longer going to be buying oil' from Russia. 'I don't know if that's right or not, but that's a good step,' ANI had quoted Trump as saying. 'We will see what happens.'
On Thursday, Reuters had reported that Indian state-owned refiners had halted oil purchases from Russia over the previous week. However, on Saturday, ANI quoted unidentified Indian officials as saying that the state-owned refiners are continuing to source oil from Russian suppliers.
The US president's remarks on Friday had also come just hours after India's Ministry of External Affairs responded to the Reuters report, stating that decisions on sourcing fuel are guided by market dynamics.
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