Russia offers India 5% discount on crude oil purchase amid Trump tariff threat, Deputy Trade Representative calls it ‘commercial secret.., plus-minus…’
Russia is now offering India a 5% discount on crude oil purchases. Russia has called it a ‘commercial secret’ between two nations. Why did US imposed 50% tariffs on India?
Earlier in August, US President Donald Trump imposed steep 50% tariffs on Indian exports, saying that New Delhi’s continued imports of Russian crude were “funding” Moscow’s war in Ukraine. Following this, Russia is now offering India a 5% discount on crude oil purchases. Russia has called it a ‘commercial secret’ between two nations.
Deputy Trade Representative of Russia to India, Evgeniy Griva, confirmed the discount, approximately around 5%, give or take, he said. “As for discounts, it’s usually plus-minus 5%. It fluctuates, but the cooperation is strong,” he said.
Russian Deputy Chief of Mission Roman Babushkin also said, ‘It’s a challenging situation for New Delhi, but we have trust in our ties. We are confident that our cooperation will continue notwithstanding the external pressure.’
US imposes 50% tariffs on India
Trump led US administration has imposed 50% tariff on India, accusing India of acting as a ‘clearinghouse’ of Russian oil’ and aiding Russia to keep the Ukraine war alive. India is helping Russia keep its war machine alive,” White House trade adviser Peter Navarro alleged earlier this week. White House Press Secretary Karoline Leavitt said tariffs on India, is like secondary pressure on Russia. “The president has made it clear he wants this war to end. Sanctions on India are part of the broader pressure campaign to force Moscow to the negotiating table,” she said.
India called these tariffs as ‘unreasonable’
Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal called the move to impose 50% tariff as “unfair, unjustified, and unreasonable”. “It is extremely unfortunate that the US chose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified, and unreasonable”, as quoted by news agency ANI.
PM Modi also responded during a speech at the MS Swaminathan Centenary International Conference in New Delhi, he said, “For us, the interest of our farmers is our top priority, India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it.”
