Top Indian News
+

India-US Relations in Spotlight as US Seeks Trade Pressure on Russian Oil Buyers

The US on Friday urged G7 countries and EU allies to impose trade tariffs on India and China. US officials believe that these countries' purchase of oil from Russia is helping Moscow in the Ukraine war.

Author
Edited By: Nishchay
Follow us:

Donald Trump & Modi (Social media)

National News: The US on Friday urged G7 countries and EU allies to impose trade tariffs on India and China. US officials believe that these countries' purchase of oil from Russia is helping Moscow in the Ukraine war. They say that this move will increase pressure on Russia's financial resources and can slow down the war.

Prime Minister Modi expressed confidence

Prime Minister Narendra Modi wrote on social media, "I fully appreciate President Trump's sentiments and positive assessment of our relations." Modi described the two countries as "close friends and natural partners" and expressed confidence that mutual relations will be strengthened through trade and cooperation.

Discussion in G7 Finance Ministers' meeting

The G7 Finance Ministers' call on Friday considered new sanctions on Russia and possible trade measures against countries that are supporting the war. US Treasury Secretary Scott Bessant said, "Only by uniting can we stop Russia's war funding and reduce violence by putting pressure."

50% tariff on India

The Trump administration imposed an additional 25% tariff on goods imported from India, taking the total tariff to 50%. Its aim was to prevent India from buying crude oil from Russia. However, no such steps have been taken against China at present.

India's energy policy and security

India has described its oil purchase from Russia as necessary for national energy security and to keep domestic prices stable. Despite US pressure, India continued to import oil, sticking to its policy.

Partnership and future direction

Although the tariffs caused some tension, recently the two leaders reaffirmed mutual cooperation and partnership. Trump said that "the two countries will continue talks to remove obstacles in trade relations." Experts say that India-US trade talks and energy imports from Russia will determine the direction of the relationship between the two countries in the coming weeks.

Recent News

×