On Friday, August 15 (local time), US President Donald Trump met his Russian counterpart Vladimir Putin in Alaska. Notably, Trump had imposed 50% tariffs on India in the days leading up to the meeting because India imports Russian oil.
However, after meeting Putin, Trump indicated that he may not impose such secondary tariffs on countries continuing to procure Russian crude oil.
Speaking to Fox News, Trump said, “Well, he (Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot…And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it,
Notably, India has not stopped buying Russian oil as it looks to secure energy needs of its vast 1.4 Billion population.
