President Donald Trump signed an executive order Wednesday imposing an additional 25% in tariffs on India over the country’s purchases of Russian oil, following through on his threat to ramp up pressure on Moscow to end the war in Ukraine.
The tariffs are set to go into force within 21 days, according to the executive order, and will go on top of the 25% penalty Trump unveiled on India this month.
The order came hours after a roughly three-hour meeting between Russian and U.S. officials, which did not produce a breakthrough. It came days before the White House’s deadline for Russia to reach a peace deal with Ukraine or face major economic penalties.
Trump has threatened to impose “secondary tariffs” of up to 100 percent on countries that buy goods — primarily energy — from Russia if President Vladimir Putin doesn’t quickly cease hostilities in Ukraine.
But he has also singled out India, one of several countries that purchase Russian oil, as trade talks between the two countries have sputtered over the past month.
Russia produced about 12 percent of the world’s crude oil supply in 2024, giving it significant market power. Despite Western sanctions, including a price cap on Russian oil exports, it has amassed a vast “shadow fleet” of tankers that allow it to continue shipping oil.
The Indian government decried the executive order as “unfair, unjustified and unreasonable.”
“Our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” a government spokesperson said in a statement. “It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.”
“India will take all actions necessary to protect its national interests,” New Delhi added.
The oil and gas sectors account for about 30 percent of the Russian government’s revenue each year, helping to keep its economy afloat.