Russia weighs the American tariff for India

On Tuesday, Russia was increasingly weighing between India and the United States, as the Kremlin says New Delhi is free to choose its trading partners.

The leadership of Washington and India, on his head on Russian oil imports, with the American President Donald Trump New Delhi threatens more severe definitions if it continues to buy the commodity from Russia.

The Kremlin, an important commercial partner in India, who remained silent with the outbreak of the dispute in the past few days, commented on Tuesday that Trump’s identification threats are “attempts to force countries to stop trade relations with Russia.”

“We do not consider such statements legitimate,” Kremlin Dmitry Peskov, speaking with correspondents on Tuesday.

“We believe that the sovereign countries must have, and they have the right to choose their commercial partners, partners in trade and economic cooperation. The choice of trade and economic cooperation systems that are in the interest of a specific country.”

The conflict between Trump and New Delhi is closely monitored by investors after Trump Monday threatened He said he “raises” the definitions of India, although he did not specify the level of high fees. The president threatened 25 % against Indian exports, as well as unlimited “punishment” last week.

India also accused the purchase of Russian reduced oil and “selling it in the open market to obtain great profits.”

On Tuesday, Trump CNBC toldSquawk boxThe tariff threshold can exceed 25 % in the next 24 hours.

“India was not a good commercial partner … So we settled on 25 %, but I think I will raise this significantly over the next 24 hours, because they are buying Russian oil, they nourish the war machine, and if they would do that, I will not be happy,” Trump said.

India returned to the United States later on Monday, accusing the European Union of hypocrisy.

“It reveals that the countries that criticize India are itself indulged in trade with Russia. Unlike our condition, this trade is not even a vital national coercion (for them),” the Ministry of Foreign Affairs said in a statement.

Western countries have used sanctions and import restrictions as a way to strangle Moscow’s revenues, which were established to export oil, which funds its war against Ukraine. However, some trade partners in Russia, especially India and China, continued their purchases of the reduced Russian crude that their economies are largely dependent.

The commercial relationship of India and Russia has grown since the invasion of Ukraine in 2022; Russia became a leading oil supplier in India after the war began, with imports increased from less than 100,000 barrels per day before invasion – 2.5 % of total imports – to more than 1.8 million barrels per day in 2023 – 39 % of total imports.

– CNBC Lim Hui Jie contributed to reporting this story.