Students at Gurukur Art Academy carry posters of Indian Prime Minister Narendra Modi and U.S. President Donald Trump. U.S. President Donald Trump imposed 25% tariffs on India and was fined for purchasing oil and military equipment from Russia.
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India said U.S. President Donald Trump is “targeting” in U.S. President Donald Trump’s imports in U.S. President Donald Trump’s overnight threat of tariffs from New Delhi.
India only imports oil from Russia after the outbreak of the Russian-Ukrainian war in 2022, the country’s foreign ministry said in a statement late Monday.
The ministry convened the EU and the United States and said: “This shows that countries that criticize India itself are addicted to trade with Russia. Unlike our case, this trade is not even important national coercion (for them).
The EU’s bilateral trade with Russia was 67.5 billion euros (78.1 billion US dollars) in 2024, while its services trade was 17.2 billion euros in 2023. European Commission data. India quoted the data as saying that the group’s trade was “much larger” than India’s total trade with Russia.
Data from the Indian Embassy in Moscow It shows that bilateral trade between New Delhi and Moscow reached a record $68.7 billion in the year ended March 2025, nearly 5.8 times higher than before the big competition.
Meanwhile, the EU is Russia’s third largest trading partner in 2024, accounting for 38.4% of the country’s total global trade, becoming Moscow’s top partner from 2020. EU-Russia trade in goods fell from 257.5 million euros in 2024 to 67.5 billion euros in 2024.
India’s response comes after Trump Threat on Monday Although he did not specify higher tariff levels, he would “substantially increase” India’s tariffs. The U.S. president threatened 25% of exports to India and an “fine” that was not specified last week.
He also accused India of buying discounted Russian oil and “sold on the open market at a large profit.”
Russia became India’s leading oil supplier Since the beginning of the war in Ukraine, the U.S. Energy Information Administration reported earlier this year that imports increased from less than 100,000 barrels per day before the invasion, or 2.5% of its total imports, to more than 1.8 million barrels per day in 2023, or 39%.
“At that time, the United States actively encouraged India to import to strengthen the stability of the global energy market,” the country said in a statement.
According to the International Energy Agency 70% of Russian crude oil The oil imports are designed to ensure predictable and affordable energy costs for Indian consumers, India said.
India has bought oil from Russia with its energy minister Hardeep Singh Puri in the past and said in an interview with CNBC last month that New Delhi helped stabilize global energy prices and was encouraged by the United States.
“If people or countries stop buying at that stage, the oil price will be as high as $130 a barrel. In this case, including our friends in the United States, buy Russian oil, but the price is capped,” Puri said.
India also targeted the United States, saying the country continues to import nuclear industry for UFH, palladium in the electric vehicle industry, as well as fertilizers and chemicals.
Government data shows that bilateral trade between the United States and Russia was $5.2 billion in 2024, compared with nearly $36 billion in 2021. The United States has not imposed any “reciprocal tariffs” on Russia.
“In this context, India’s goals are unreasonable and unreasonable. Like any major economy, India will take all the necessary measures to safeguard its national interests and economic security,” New Delhi said.
