MUMBAI, India — India’s prime minister responded with defiance after President Trump threatened to double tariffs on his country to 50%, because it purchases Russian oil.
Trump accuses India of undermining American efforts to counter Russia’s invasion of Ukraine.
“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,” he posted on Truth Social earlier this week.
If Trump goes through with his threat, the new rate would go into effect on Aug. 27 and make India one of the most heavily tariffed trading partners of the U.S., alongside Brazil.
On Wednesday, Indian Prime Minister Narendra Modi told loyalists that he would not be cowed.
“I know that I will personally have to pay a heavy price for it,” he said. “But I am ready for it.”
India ramped up its purchases of Russian oil after Moscow offered it at a discount after invading Ukraine three years ago. In 2024, India bought Russian oil worth more than US $47 billion, according to the Finnish think tank Centre for Research on Energy and Clean Air. Nearly a third of India’s total oil imports come from Russia.