Washington, DC: US President Donald Trump has held out a fresh warning to India over raising tariffs if continued imports of Russian oil, saying Prime Minister Narendra Modi was aware of his displeasure on the issue.
US President Donald Trump's Statement
Speaking to reporters aboard Air Force One on Sunday (local time), Trump said it was important for India to keep him happy on the issue of Russian Oil Imports "PM Modi's a very good man. He's a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly," Trump said.
The US strike on Venezuela has brought the issue of Oil into the forefront of geopolitics once again. Venezuela has massive oil reserves, which total over 303 billion barrels, making them the world's largest proven reserves. However, production has dwindled to 1 million barrels per day due to US sanctions and underinvestment. Venezuela holds the world's largest proven oil reserves (estimated at over 300 billion barrels), which represent roughly 17% of the total global oil supply, OPEC data shows.
Trump's new warning to India comes amid growing scrutiny in Washington over India's energy trade with Russia, even as New Delhi has defended its oil purchases as essential for domestic energy security.
The comments also come just weeks after Trump and Prime Minister Modi held a telephonic conversation, during which both leaders stressed the importance of maintaining momentum in bilateral trade ties despite ongoing tariff-related tensions.
The call coincided with the launch of a fresh round of negotiations between Indian and US officials aimed at resolving the long-standing trade impasse.
Only days before the conversation with Modi, Trump had threatened to impose new tariffs on Indian rice imports. The warning followed complaints raised by a US farmer representative at a White House roundtable, who alleged dumping by India, China and Thailand.
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