Russian President Vladimir Putin says goodbye to the Indian Prime Minister Narendra Modi after her meeting in the Kremlin in Moscow, Russia on July 9, 2024.
Gavri Grigorov | About Reuters
Russia burdened the growing spit between India and the USA on Tuesday. The Kremlin said that Neu -Delhi can be free to choose its own trading partners.
Washington and India's leadership are in loggerheads because of the imports of Russian oil. The US President Donald Trump threatens Neu -Delhi with much steeper tariffs if it continues to buy the goods from Russia.
The Kremlin, an important trading partner of India and one who was silent when the spit broke out in the past few days, commented on Tuesday that Trump's tariff threats “try to force the countries to stop trade relationships with Russia”.
“We do not consider such statements to be legitimate,” kreml press spokesman Dmitry Peskov continued and spoke to reporters on Tuesday.
“We believe that sovereign countries should have the right and have the right to choose their own trading partners, partners in retail and economic cooperation and to choose these commercial and economic cooperation regimes that are in the interest of a specific country.”
The dispute between Trump and Neu -Delhi is closely observed by investors after Trump threatened on Monday that he would “significantly increase” the tariffs in India, although he does not indicate the level of higher taxes. Last week, the President had threatened an obligation of 25% to Indian exports and an “punishment” that was not described in more detail.
He also accused India of having bought reduced Russian oil and “selling it on the free market for large profits”.
On Tuesday, Trump told CNBCs “Squawk Box” that the tariff threshold could have hiked over 25% over the next 24 hours.
“India was not a good trading partner … So we decided to 25%, but I think I will increase it very significantly in the next 24 hours because they buy Russian oil, do the war machine, and if they do it, I won't be happy,” said Trump.
India later hit the United States on Monday and accused it and the European Union of hypocrisy.
“It turns out that the criticization of India gives in to the trade in Russia. In contrast to our case, such a trade is not even an important national coercion [for them]”The Foreign Ministry said in a statement.
The western countries have used sanctions and import restrictions to suppress Moscow from Oil export -generated income that finance their war against Ukraine. Some of the Russian trading partners, especially in India and China, have continued their purchases of reduced Russian crude oil, to which their economies largely rely on.
India and Russia's trade relationship have increased since the invasion of Ukraine in 2022. Russia became a leading oil supplier after the war of India. The imports of almost 100,000 barrels per day before the invasion – 2.5% of total imports – rose to more than 1.8 million barrels per day in 2023 – 39% of total imports, said the US Energy Information Management at the beginning of this year.
– CNBCS Lim Hui Jie reported on this story.
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