Tag: oil

“The new levies — imposed, in part, to pressure Russia to end its war on Ukraine by punishing one of its largest oil buyers — will raise the country’s tariff rate to 50 percent and are likely to inflame tensions between the world’s two largest democracies.

…

The Indians, meanwhile, have shown little sign of budging on their Russian oil purchases, which the government has framed as purely an economic decision.

Now, India’s 50 percent tariff rate will be nearly as high as the 55 percent levy Chinese goods face.

…

For much of this century, U.S. presidents have sought to pull New Delhi into closer strategic ties — and pry it away from its traditional relations with Moscow — through India’s membership in the China-countering group known as the Quad, which also includes Australia, Japan and the United States.

Those efforts appeared to be bearing fruit as recently as January following a meeting in Washington with top diplomats from Quad countries when India’s Foreign Affairs Minister Subrahmanyam Jaishankar told reporters that New Delhi was willing to nudge the grouping toward a greater defense and security focus. That initiative is likely dead as long as the Trump administration’s tariff punishment continues.”

https://www.politico.com/news/2025/08/26/clearly-a-low-moment-u-s-india-relationship-sours-as-new-tariffs-kick-in-00527196