US President Donald Trump said on Thursday that his tariffs on India were meant to push Russian President Vladimir Putin into Ukraine talks. Ahead of a key meeting in Alaska on Friday, he suggested the approach is working.
During a Fox News podcast, Trump was asked whether more sanctions forced Russia to seek talks. He replied that the India tariffs played a role.
“I think everything has an impact. [For instance], when I told India and which essentially took them out of buying oil from Russia, that we’re going to charge you more because you’re dealing with Russia and oil purchases… India was the second largest and getting pretty close to China. China is the largest,” Trump said.
Possible Action Against China
Moreover, Trump hinted at similar measures against China, Russia’s largest oil buyer. He said losing major customers adds pressure on Moscow.
“…When you lose your second largest customer and you’re probably going to lose your first, largest customer, I think that probably has a role,” he added.
Treasury Secretary Warns of Higher Penalties
Meanwhile, US Treasury Secretary Scott Bessent warned that the 50% tariff on India could rise if talks with Putin fail. He said India has become part of Washington’s pressure campaign on Moscow.
“I could see, if things don’t go well, then sanctions or secondary tariffs could go up,” Bessent told Bloomberg.
Tariff Details
Earlier this month, Trump imposed 50% tariffs on India. This included a 25% reciprocal tariff and a 25% penalty for Russian oil purchases. These penalties will start on August 27.
Bessent added that the approach is flexible. “Sanctions can go up, they can be loosened. They can have a definitive life. They can go on indefinitely,” he said.
He also noted plans to target Russia’s “shadow fleet of ships around the world” and urged European allies to adopt their own secondary sanctions. “It’s put up or shut up time. The President is creating his own leverage,” Bessent said.
India Pushes Back
However, India strongly criticized the US tariffs. Officials called them “unjustified and unreasonable.”
Since February 2022, India has been a major buyer of Russian crude after Western sanctions. India defended its purchases and criticized the US and EU for singling it out, pointing out that other countries buying Russian energy faced no penalties.