Washington: India may soon get a breather from U.S. trade pressure, with President Donald Trump hinting at the possibility of lifting additional tariffs imposed on New Delhi for purchasing Russian oil.
Speaking to Fox News after his summit with Russian President Vladimir Putin, Trump remarked:
“India was one of the biggest buyers, taking over 40% of Russian oil. China too buys in large quantities. Raising tariffs would deal a huge blow to Russia. If I need to do it, I will—but sometimes, it may not be necessary.”
The Trump administration had earlier slapped a 25% tariff on Indian oil imports from Russia, effective August 7, with further duties scheduled within 21 days. India has yet to confirm whether it has cut back on Russian crude purchases.
On the diplomatic front, Trump admitted that his high-stakes meeting with Putin ended without a breakthrough on the Ukraine war. While Trump stressed that “no agreement was reached,” Putin insisted that an understanding had been achieved.
Trump also promised to brief Ukrainian President Volodymyr Zelenskyy and European leaders about the talks, while Putin cautioned Europe against undermining peace efforts.
