- Former President Trump announced a 25% tariff on Indian goods and an unspecified penalty for India's continued purchase of Russian oil and military equipment.
- India has become the largest buyer of Russian crude oil by volume, taking advantage of discounted prices after the 2022 invasion of Ukraine.
- More than a third of India's crude oil imports are from Russia, though India also imports from nearly 40 other countries.
- Trump's actions complicate trade negotiations between the US and India, as he aims to reduce the $44 billion trade deficit with India.
- The US previously threatened similar measures, which led India to stop importing oil from Iran in 2019.
Trump threatens India with tariffs over Russian oil purchases
Aug 1, 2025, 8:43:10 PM UTC(1 day ago)
Impact: High
From:@DeItaone
TRUMP SAYS HE HAS HEARD THAT INDIA WILL NO LONGER BE BUYING OIL FROM RUSSIA
Affected Tickers
RELI(STOCK_US)TTM(STOCK_US)INFY(STOCK_US)
