Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
Kolkata: In a clear, unambiguous statement New Delhi has pointed out that the US is itself carrying out business with Russia while threatening India with very high tariffs as a punishment for buying crude oil from Russia, holding it out as a signal of lack of concern of New Delhi for the lives lost in Ukraine. Pointing out the hypocrisy inherent in Washington's stance, New Delhi has quantified the amount of trade the US and Europe are carrying out with Russia.
In a social media post Trump accused India of buying "massive amounts of Russian oil" and said that he will substantially raise trade tariffs on Indian goods. Only last week, he announced a retaliatory tariff of 25% against India.
Hitting back at Washington, a statement from MEA pointed out that the US is quietly continuing its policy of purchasing uranium, palladium, and other critical goods from Russia, which is in its national interest. Describing Trump's words as "unjustified and unreasonable", it said "Like any major economy, India will take all necessary measures to safeguard its national interests and economic security... India has been targeted by the United States and the European Union for importing oil from Russia after the commencement of the Ukraine conflict. In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy market stability."
New Delhi also mentioned that Europe too continues to import a lot from Russia. The list includes energy, fertilisers, mining products, iron and steel, and transport equipment. The US still imports uranium hexafluoride for its nuclear industry besides palladium for its EV sector, fertilizers, and chemicals.
Though US President Donald Trump does not lose any opportunity to threaten other countries for engaging in trade with Russia, Washington itself is continuing trade relations with Moscow. This year between January and May, imports from Washington touched $2.1 billion and exports to Russia was recorded at $232 million. The result: a trade deficit of $1.86 billion. In 2024, bilateral trade between the US and Russia amounted to $3.5 billion. The amount, however, was far below the figure of $15 billion in 2022. The US Trade Representative has also admitted that uranium, palladium and such materials do not come under the purview of sanctions since these have not substitutes.
