Russia is weighed at the US tariff tariff

Russian President Vladimir Putin said goodbye to Indian Prime Minister Narendra Modi after a meeting in the Kremlin in Moscow, Russia on July 9, 2024.

Gavri Grigorov | Through Reuters

Russia on Tuesday was weighed into the growing fetus between India and the US, and the Kremlin said New Deli could choose their own trading partners.

Washington and India’s leadership are in registrations over Russian oil imports together with the US President Donald Trump Threatening Newdli is much more steep tariffs when it continues to purchase goods in Russia.

The Kremlin, an important trading partner of India, and the one that was silent when opened in the last few days, commented on Tuesday that Trump’s tariff threats are “attempts to force the country to stop trade relations with Russia.”

“We do not believe that such statements are legal,” the Kremlin’s press -secretary Dmitry Peskov continued, talking to journalists on Tuesday.

“We believe that sovereign countries must have and have the right to choose their own trading partners, trade partners and economic cooperation.

The controversy between Trump and New Delhi closely monitors investors after Trump threatened on Monday that It will “significantly increase” tariffs for India, although it did not indicate the level of higher levies. Last week, the president threatened 25% of Indian exports and an uncertain “fine”.

He also accused India of buying a reduced Russian oil and “selling it in the open market for big profits.”

Tuesday Trump said CNBC “Box for Squawk“The fact that the tariff threshold can be exceeded above 25% in the next 24 hours.

“India was not a good trading partner … So we settled by 25%, but I think I’m going to raise it very significantly over the next 24 hours because they buy Russian oil, they feed the military car, and if they are going to do it, I will not be happy,” Trump said.

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

“It is said that the countries that criticize India themselves indulge trade with Russia. Unlike our case, such trade is not even vital national coercion (for them),” the Ministry of Foreign Affairs said.

Western countries have used sanctions and import restrictions as a way to suppress the export of Moscow oil funding the war against Ukraine. However, some Russian trading partners, in particular India and China, continue purchasing from reduced Russian raw materials, which their economies are largely calculated.

Trade relations of India and Russia grew after the invasion of Ukraine in 2022; After the beginning of the war, Russia became a leading oil supplier in India, when imports increased from just under 100,000 barrels a day before the invasion – 2.5% of the total import – up to more than 1.8 million barrels per day in 2023, 39% of total imports, the US administration said at the beginning of this year.

– CNBC Lim Hui Jie reported in the story.

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