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CNA
27 minutes ago
- CNA
Trump says he will 'substantially' raise tariffs on India over Russia oil purchases
WASHINGTON: United States President Donald Trump said on Monday (Aug 4) he will substantially raise tariffs on India over its purchases of Russian oil - a key source of revenue for Moscow's war on Ukraine. "India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the open market for big profits. They don't care how many people in Ukraine are being killed by the Russian war machine," Trump said in a post on Truth Social. "Because of this, I will be substantially raising the Tariff paid by India to the USA." He did not elaborate on what the tariff would be. Trump last week said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter. Trump's heightened pressure on India comes after he signalled fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, more than three years since Russia's invasion.
CNA
an hour ago
- CNA
Trump says he will 'substantially' raise tariffs on India over Russian oil purchases
WASHINGTON: United States President Donald Trump said on Monday (Aug 4) he will substantially raise tariffs on India over its purchases of Russian oil. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine," Trump said in a post on Truth Social. "Because of this, I will be substantially raising the Tariff paid by India to the USA." He did not elaborate on what the tariff would be. Trump last week said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details. Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter.
CNA
an hour ago
- CNA
Ong Beng Seng admits to abetting obstruction of justice
Property tycoon Ong Beng Seng has been convicted of abetting former transport minister S Iswaran in obstructing the course of justice. He pleaded guilty, nearly a year after being charged in relation to the corruption case involving Iswaran. Ong's defence has requested a fine, citing his ill health. The prosecution is not objecting. Jeraldine Yap has the details.
