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RNZ News
7 hours ago
- Business
- RNZ News
Trump plans to impose a Russia ‘penalty' on India in addition to a 25 percent tariff as trade talks stall
By Phil Mattingly and Kit Maher , CNN US President Donald Trump doubled down on a threat to impose 25 percent tariffs on all Indian imports. Photo: AFP / Pool / Christopher Furlong US President Donald Trump is ratcheting up the pressure on India, calling into question the prospects of a deal with a key US trading partner just days before his tariff deadline. Trump, in a pair of social media posts Wednesday, sharply attacked India's trade barriers and directly targeted India's sustained reliance on Russian oil purchases and military equipment. He doubled down on his threat to impose 25 percent tariffs on all Indian imports and threatened an additional "penalty" in response to India's energy purchases. "Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump wrote on Truth Social. "Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE - ALL THINGS NOT GOOD!" Trump's tariff escalation comes on the heels of a series of deals with major US trading partners that have set a rough baseline of between 15 percent and 20 percent and included a series of pledges to expand market access for US products and foreign investment commitments. For India, it marks a major setback in a months-long effort to secure a deal that officials believed on several occasions was nearing the finish line. Top trade officials have been transiting back and forth between the Washington and New Delhi for months in pursuit of a final agreement. But the recent trade agreements with Japan and the European Union have emboldened Trump in the final days before the August 1 deadline for the administration's paused "reciprocal" tariffs to snap back into place, officials say. Trump's ability to secure commitments on market access for US producers has become a particularly salient fixation as Trump has reviewed draft offers in recent days, the officials said. That has created a significant obstacle to the prospects of an agreement with India, one official told CNN. "They're willing to go part of the way," the official said. "But the president isn't in a 'part of the way' mood - he wants barriers removed completely or as close to completely as possible." Trump's approach is tied in part to a strategy that has become increasingly apparent to foreign trade officials involved in late-stage talks: Trump has no qualms about letting those higher tariffs go into place - a message he's delivered repeatedly in public over the last several weeks. But it's also created an environment in which Trump has embraced a clear sense of leverage over trading partners - even close allies - who are desperate to maintain access to the world's largest consumer market. "I think President Trump is frustrated with the progress we've made with India but feels that a 25 percetn rariff will address and remedy the situation in a way that's good for the American people," Director of the National Economic Council Kevin Hassett said at the White House on Wednesday. The tariffs on India, Hassett said, might cause them to "reconsider their practices." "Over time, I would guess that Indian firms will be onshoring production in the US, and Indians might even open their markets more to us so that we reconsider our future trades," Hassett added. At the same time, Trump has escalated in parallel his threat to impose secondary sanctions on Russian energy exports in response to Russian President Vladimir Putin's refusal to de-escalate attacks on Ukraine. That dynamic, which has long been weighed across successive administrations, would directly impact India and China most as nations who purchase the bulk of Russian energy products. India's oil imports from Russia have ticked up this year as Russia continued to be the top supplier to the world's most populous nation. Russia for roughly 35 percent of India's overall supplies, followed by Iraq, Saudi Arabia, and United Arab Emirates. CNN has reached out to the White House for more information on what the penalty will be and if India will be receiving an official letter from the United States marking the tariff, as other nations have received. On Tuesday, Trump told reporters that India would pay 25 percent tariffs if they don't reach a deal by August 1. When imposing a 50-day deadline on Russia to reach a ceasefire earlier this month, Trump announced that countries that purchase Russian oil would face secondary sanctions. That ceasefire deadline has since moved to August 8. Trump officials have been privately making clear to counterparts that Trump's threat to significantly escalate an already sweeping US sanctions regime on Russia should be taken seriously and is not a negotiating ploy, the officials said. Treasury Secretary Scott Bessent said Tuesday he shared that message directly with his Chinese counterparts during trade talks in Stockholm. "I think anyone who buys sanctioned Russian oil should be ready for this," Bessent told reporters at a news conference at the conclusion of the talks. According to an analysis of Russian fossil fuel exports and sanctions conducted by the Centre for Research on Energy and Clean Air in June, India continued to be the second-largest buyer of Russian fossil fuels behind China. - CNN
BreakingNews.ie
15 hours ago
- Business
- BreakingNews.ie
Trump announces 25% tariff on India plus penalties for buying Russian energy
Donald Trump has said he will impose a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. The US president said on Wednesday that India 'is our friend' but its tariffs 'are far too high' on US goods. Advertisement The Republican president added that India buys military equipment and oil from Russia, which he said has enabled the war in Ukraine. As a result, he intends to charge an additional 'penalty' starting on Friday as part of the launch of revised tariffs on multiple countries.
Washington Post
16 hours ago
- Business
- Washington Post
Trump announces 25% tariff on India starting Aug. 1, unspecified penalties for buying Russian energy
WASHINGTON — President Donald Trump said Wednesay that he'll impose a 25% tariff on goods from India, plus an additional import tax because of India's purchasing of Russian oil. Trump said on his Truth Social platform that India 'is our friend' but its 'Tariffs are far too high' on U.S. goods.
Russia Today
23-07-2025
- Business
- Russia Today
India counters EU pressure on Russian oil
India has denounced the European Union's pressure tactics against New Delhi for importing and refining Russian oil, arguing that it prioritises its own energy security. When questioned by the media at a press briefing on Wednesday about Brussels' 18th package of sanctions against Moscow, which directly targeted an Indian refinery, Foreign Secretary Vikram Misri said the bloc needed to have a clear perception of the global energy situation. 'We have been clear that so far as energy security is concerned it is the highest priority of the government of India to provide energy security for the people of India and we will do what we need to do with regard to that,' Misri stated. 'On energy-related issues also, as we have said previously, it is important not to have double standards and to have a clear perception of what the global situation is in so far as the broader energy market is concerned and where the providers of energy goods are located and where they are going to come from and who needs energy at what point in time,' he added. Earlier on Wednesday, Reuters reported that two tankers had not loaded fuel from the sanctions-hit Indian refinery as scheduled. 🇮🇳 Will Do What We Need to Do - Indian Foreign Sec. Calls Out Double Standards of EU SanctionsVikram Misri stresses that Europe must understand that the rest of the world exists - European problems aren't global problems. 'We do understand that there is an important and serious security issue that is confronting Europe, but the rest of the world is also there,' Misri said. 'It is also dealing with issues that are existential for the rest of the world, and I think it's important to keep balance and perspective when talking about these issues.' Moscow has emerged as India's key oil supplier since the escalation of the Ukraine conflict in February 2022, accounting for nearly 40% of India's crude imports. New Delhi, in parallel, has become a major exporter of refined fuels to Europe since 2023.
Irish Times
21-07-2025
- Business
- Irish Times
Why is a Russian ‘shadow fleet' using Irish waters?
Earlier this month, the Sierra tanker set off from a Russian port on the Baltic Sea laden with thousands of tonnes of crude oil and set a course for India. There was nothing unusual about that – Russia has continued to export vast amounts of fossil fuels despite the international sanctions imposed following its full-scale invasion of Ukraine in 2022. However, when the Sierra, a 250 metre tanker, reached Dutch waters, it did something which left maritime and naval experts scratching their heads. Instead of taking the safest and most economically efficient route through the English Channel and down the coast of France, the ship abruptly turned north. It sailed all the way around the British Isles into the North Atlantic before coming down the Irish west coast on July 10th. It skirted down the very edge of the Irish Exclusive Economic Zone (EEZ) before continuing south to India. READ MORE Two weeks previously, the Marathon, another sanctioned vessel carrying Russian oil, made the exact same journey. The Sierra and Marathon are part of what has become known as Russia's shadow fleet and are just two of an increasing number of vessels which have been engaging in suspicious and sometimes bizarre behaviour around Irish waters in recent months. This has raised both environmental and national security concerns among Irish officials, especially given Ireland's extremely limited ability to monitor such vessels. An Irish Times investigation has identified 19 shadow fleet vessels sailing in, or just outside, the Irish EEZ since May. Five of these ships appeared more than once. All are subject to US or UK sanctions, while 11 are subject to EU sanctions. [ New €60m sonar system aims to protect transatlantic cables, gas pipelines in Irish waters Opens in new window ] The most recent sailing occurred on Saturday when the Matari, a crude oil tanker flagged in Sierra Leone, sailed north through the EEZ on its way to the Gulf of Kola in the Russian Arctic. There are various definitions of a shadow fleet vessel, but most involve a ship engaging in deceptive practices to transport sanctioned oil or other cargos. In the majority of cases, these ships fly the flag of a small country with a poor reputation for maritime regulations. Sometimes, as is the case with the Sierra which claims it is flagged in the landlocked African nation of Malawi, the registration is fraudulent (it previously flew the flags of Sao Tome and Principe, Liberia, Gabon and Barbados). The tally of 19 ships observed around Ireland recently is likely an undercount. The vessels were tracked using tools from Starboard Maritime Intelligence, a New Zealand-based marine software firm, and open source marine tracking platforms. Their location was based on the signals from their automatic identification systems (AIS). A defining feature of shadow vessels is that they often sail with AIS turned off, which makes them all but impossible to track. The figure of 19 shadow fleet vessels does not include the Shtandart, a replica of a historic Russian navy ship, which visited a Co Louth port earlier this month despite being under EU sanctions. [ State needs to invest in Navy and Air Corps to beef up our ability to protect vital undersea connections Opens in new window ] Many of the recent incidents in Irish waters involved ships engaging in unusual and economically inefficient practices, including sailing outside of recognised shipping lanes and taking the long way around Ireland on the way to the Baltic Sea. 'Vessels don't take longer routes, especially those that include the North Atlantic, unless there's a reason,' said Mark Douglas, a maritime domain analyst with Starboard Maritime Intelligence and a former New Zealand Royal Navy officer. 'The important thing about all of this is, I don't know why this is happening and no one else does either,' he said. One possible explanation for the growing number of sanctioned ships sailing up the Irish west coast is increased monitoring of traffic in the English Channel by UK authorities. UK officials are now challenging by radio an average of 40 shadow vessels every month off the British coast as part of a joint campaign with a group of EU countries to tackle Russian sanction busting. Christian Panton, an expert in maritime open source intelligence, said European countries are increasingly concerned about the presence of unflagged or fraudulently flagged vessels in their waters. The Russian oil tanker Sierra. Photograph: Marinetraffic/Hannes van Rijn The Shtandart, a replica of a historic Russian navy ship, in Dublin. Photograph: Nick Bradshaw He pointed to a recent joint communication from the NB8++, a group of 12 northern European countries, stating that 'if vessels fail to fly a valid flag in the Baltic Sea and the North Sea, we will take appropriate action within international law'. Ireland is not a member of this group, meaning vessels may feel more comfortable sailing off its west coast than going through the English Channel. Evidence suggests shadow fleet ships may also be attempting to avoid areas which impose specific environmental conditions on oil tankers. Since 2005, the Western European Tanker Reporting System (Wetrep) has required oil tankers to provide details of their crews, cargo and seaworthiness when sailing through a designated area. Ireland is a member of Wetrep and much of its EEZ is classified as a designated reporting area. Several of the shadow vessel ships tracked through the EEZ in recent weeks appeared to be just skirting the Wetrep area, meaning they did not have to provide details on their operations to authorities. The increased presence of the shadow fleet off Ireland has raised concern among national security officials. During one recent voyage through the English Channel, the Sierra was escorted by a Russian warship which had disguised itself as a fishing vessel. [ Ireland cannot protect its waters alone, UN expert says Opens in new window ] There is concern Russia intends to start regularly providing military escorts for shadow vessels to deter western intervention. This raises the chances of military escalation. Secondly, there is concern about the activity of shadow fleet vessels around Irish undersea cables. In a small number of cases, vessels have been observed by the Irish Air Corps or Naval Service loitering in the areas of these cables. Last March, the Arne, a shadow fleet tanker previously boarded by German federal police over suspicions of sabotage, was spotted by the Naval Service near undersea cables off Cork. The main risks to undersea infrastructure may come not from deliberate action but from the poor condition of shadow fleet vessels. Douglas points out accidents account for 90 per cent of incidents of damage to undersea cables globally. Many shadow fleet vessels are in poor condition and are crewed by inexperienced sailors. The countries they are flagged in take little interest in enforcing safety standards or crew working conditions. All of this raises the danger of an anchor being accidentally dropped and dredged across some cables, said Douglas. The biggest concern for Irish officials is that the poor condition of these ships could result in an ecological disaster. Eleven of the 19 ships identified in recent weeks were carrying full loads of crude oil when sailing off Ireland. The clean-up costs for an oil spill from a single shadow fleet tanker could be nearly €750 million, according to recent estimates from the Centre for Research on Energy and Clean Air. Such an incident would be devastating to Irish waters, even if the ship was sailing just outside the EEZ, as was the case with the Sierra and Marathon. 'That is the thing would keep me up at night, more than anything with cables,' said an Irish maritime official. 'There are redundancies built into the cable system. There's no redundancy for an oil spill.' It is not an entirely hypothetical scenario. In January, the sanctioned tanker Eventin lost control while at anchor off Germany. The Blue, a sanctioned oil tanker heading for the Baltic, took an unusual route around Ireland. Photograph: Marinetraffic/Hans Rosenkranz Last week, the Pushpa, a shadow fleet oil tanker, reported losing control about 50 nautical miles off Malta. 'Imagine that on Ireland's Atlantic coast,' said Douglas. The right of Ireland to do anything about these ships is up for debate. Maritime law is ambiguous about the rights of countries to board or seize shadow fleet vessels. In April, the Estonian Naval Service boarded an unflagged shadow fleet vessel off its coast, but no other country has taking similar action. Ireland largely lacks the ability to conduct such operations, but some action is being taken. The Defence Forces and Coast Guard monitor many of these vessels as they pass through. The newly acquired Airbus C295 maritime patrol aircraft, which has extended range and more advanced sensors than its predecessors, has proven invaluable. Just last Friday, an Air Corps C295 set a course for the Mayo coast where it monitored the Blue, a sanctioned oil tanker heading for the Baltic and taking an unusual route around Ireland. It is understood the Defence Forces received prior intelligence about the ship, which has since left Irish waters. Earlier in the week, it intercepted the Belgorod, another sanctioned tanker sailing north through the EEZ. A Defence Forces spokesman declined to comment on the operations but said it 'maintains a continuous presence and vigilance within Ireland's maritime domain. 'We monitor all activity within our Exclusive Economic Zone as part of our routine operations to ensure the security and integrity of our waters.' The Department of Transport, which regulates maritime traffic, said the Irish Coast Guard 'has instituted specific measures to monitor the presence of these vessels and passage through and out of Irish EEZ'. It said the Coast Guard is specifically concerned about the increased possibility of maritime casualty incidents 'from such vessels'. A spokesman also pointed to several measures being taken to crack down on shadow fleet vessels operating without maritime insurance. Ireland is taking part in a one-month 'focused inspection campaign' to check the insurance documents of oil tankers calling to ports. It has also signed up to a new EU system to monitor shadow fleet vessels. Nevertheless, recent events suggest shadow fleet traffic is only likely to increase. Last week, the EU agreed an additional sanctions package for Russia which will further limit the legitimate market for its oil exports and increase Moscow's reliance on its shadow fleet.
