US President Donald Trump on Monday alleged that the steep tariffs imposed on India for purchasing Russian oil have given a “big blow” to Moscow’s economy, which is not doing well. Addressing a press conference at the White House, Trump claimed that Russia’s economy has been severely disrupted by the ongoing global pressures due to the imposition of US tariffs on several countries.

“They have tremendous potential in Russia to do well. But they’re not doing well. Their economy is not doing well right now because it’s been very well disturbed by this,” Trump said. He further added that it doesn’t help Moscow if the US tells their largest or second largest buyer (India) that they are being imposed with a 50% tariff over Russian oil purchase. “That was a big blow,” Trump said.

The US President went on to say that he was the first one to be so tough and that he hasn’t stopped. The remarks came days after Trump called New Delhi and Moscow “dead economies”.

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Trump’s imposition of tarrifs in India

Earlier this month, Trump announced an additional 25 per cent tariff on Indian exports to the US, citing New Delhi’s continued purchases of Russian crude. The move raises the total levy to a steep 50 per cent, among the highest imposed by Washington on any trading partner. The tariff will come into force on August 27.

The Ministry of External Affairs hit back strongly with a statement after US’s imposition of steep tarrifs on the country. MEA said India is buying oil to make energy more affordable for its people. It also called out criticism from the US and EU as “unjustified and unreasonable.” The ministry further pointed out that last year, the EU traded €67.5 billion worth of goods with Russia and in 2023, its trade with Russia was valued at €17.2 billion which far surpassed India’s total trade valuation with Russia.

The MEA also condemned the US for it’s hypocrtic demands as US continues to import Russian uranium, palladium, fertilizers, and chemicals. The MEA said that given these facts, blaming India is neither fair nor reasonable for thier purchase of Russian, and that as a major economy, India will always do what is needed to protect its “national interest and economic security”

(With Inputs from PTI)