New York: President Donald Trump has indicated that the United States may not impose secondary tariffs on countries continuing to purchase Russian crude oil, easing concerns that India could be hit by additional measures.
“There were apprehensions that such tariffs would affect India if the United States decided to enforce them. Well, he (Russian President Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot… And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it,” Trump said on Friday.
The remarks came during an interview with Fox News aboard Air Force One as Trump travelled to Alaska for a high-stakes summit with Putin. The meeting concluded without any agreement on ending the Russia-Ukraine war.
On Wednesday, US Treasury Secretary Scott Bessent had warned that if “things don’t go well” between Trump and Putin at the summit, secondary sanctions on India for purchasing Russian oil could rise. Speaking to Bloomberg, Bessent said, “I think everyone has been frustrated with President Putin. We expected that he would come to the table in a more fulsome way. It looks like he may be ready to negotiate. And we put secondary tariffs on the Indians for buying Russian oil. And I could see, if things don’t go well, then sanctions or secondary tariffs could go up.”
When asked if sanctions could increase or be relaxed, Bessent replied, “Sanctions can go up, they can be loosened. They can have a definitive life. They can go on indefinitely.”
Trump has already imposed tariffs totalling 50 per cent on India, including a 25 per cent duty on Delhi’s purchases of Russian oil, set to take effect from August 27.
Responding to the move, the Ministry of External Affairs said the targeting of India was “unjustified and unreasonable.” In a statement, it added, “Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.”
With PTI inputs