US Demands Tariffs On India And China For Buying Russian Oil, Challenges G7 And EU

Tariffs on India: The US has taken a tough stand against countries that continue to buy oil from Russia and has appealed to the European Union (EU) and G7 countries to impose tariffs on India and China. Washington says that the continued purchase of Russian crude oil by these two countries is providing economic support to Moscow for the Ukraine war. The appeal was made at a meeting of G7 finance ministers on Friday, where fresh sanctions on Russia and punitive trade measures against countries that are indirectly fuelling Russia's war machine were discussed.

America's tough stand on tariffs

US President Donald Trump recently doubled the tariff on goods imported from India to 50%. Trump increased this to put pressure on India so that New Delhi stops buying Russian crude oil. However, no such step has been taken against China at present. "Only with a unified effort that cuts off the revenues funding Putin's war machine at the source will we be able to exert sufficient economic pressure to stop the senseless killing," US Treasury Secretary Scott Bessant and Trade Representative Jamison Greer said at the meeting.

Canadian Finance Minister Francois-Philippe Champagne, who chaired the meeting, said ministers also discussed using Russia's frozen assets to defend Ukraine and intensifying sanctions.

Demand for meaningful tariff on India-China

The US Treasury spokesperson clearly said that G7 and EU should impose meaningful tariffs against China and India so that both countries stop buying oil from Russia. There has been tension between the US and India over Russian oil. Relations soured after the Trump administration imposed heavy tariffs on India. However, recently there has been a softening of relations between the two countries.

Prime Minister Narendra Modi said, "India and the United States are close friends and natural partners. I am confident that our trade talks will pave the way to unlock the immense potential of the India-US partnership."Trump also wrote on Truth Social that India and America are continuing talks to remove trade barriers.

India's stand on buying Russian oil

India has clarified that the decision to buy Russian oil is part of its strategy to ensure energy security and maintain affordable prices for domestic consumers. New Delhi says that national interests are paramount and cheap crude oil from Russia is important for India's economy.