US President Donald Trump said that India has been buying “massive amounts” of Russian oil and selling it on the open market for “big profits”.
India on Monday responded to US President Donald Trump’s fresh threat to raise tariffs on New Delhi, saying that the United States and the European Union have targeted India for importing oil from Russia after the Ukraine conflict and that such a move is “unjustified and unreasonable.”
In a strong statement, the ministry of external affairs said that it would take all necessary steps to protect India’s interests and economic security.The statement came hours after US President Donald Trump said that India has been buying “massive amounts” of Russian oil and selling it on the open market for “big profits”.“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump wrote on Truth Social.He also warned that the US will “substantially raise” the tariff imposed on New Delhi. Last week, Trump had announced a 25% tariff for India in view of New Delhi’s “high tariffs on US goods” and its purchase of Russian oil and military products.
In its statement, the ministry of external affairs pointed out that India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the Russia-Ukraine conflict. “The United States at that time actively encouraged such imports by India for strengthening global energy markets stability,” the MEA said.
The MEA said that India’s imports are meant to ensure predictable and affordable energy costs for the Indian consumer and are a necessity compelled by the global market situation. It also pointed out that nations criticising India “are themselves indulging in trade with Russia” and that such trade “is not even a vital national compulsion.”
3. The ministry pointed out that the European Union in 2024 had a bilateral trade of 67.5 billion Euros in goods with Russia. “In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India’s total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022,” the MEA said.
4. It said that trade between Russia and Europe is not only limited to energy, but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment.
5. “Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers as well as chemicals,” the MEA said.
6. The ministry said that, given this background, targeting India is unjustified and unreasonable and that, like any major economy, India will take all necessary measures to safeguard its national interests and economic security.