India Defies Trump's 500% Tariff Threat, Continues Russian Oil Imports

Economy
C
CNBC Awaaz•09-01-2026, 18:53
India Defies Trump's 500% Tariff Threat, Continues Russian Oil Imports
- •India firmly states its energy policy is pre-determined and will continue importing oil from Russia despite US tariff threats.
- •The Ministry of External Affairs confirmed India's commitment to securing affordable energy from diverse sources for its 1.4 billion people.
- •US President Donald Trump supported a bill proposing a 500% tariff on countries, including India, buying Russian oil.
- •India has already faced a 50% tariff since August 27, including a 25% penalty on Russian oil and defense products.
- •India refutes claims blaming PM Narendra Modi for delays in the India-US trade agreement, stating talks are ongoing and productive.
Why It Matters: India stands firm on its energy policy and Russian oil imports, dismissing US tariff threats and trade deal blame.
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