Russian oil has not been sanctioned, so why has India become the target of Trump's tariffs?
On Wednesday, US President Trump will raise tariffs on India to 50% to further pressure them - but industry sources told the media that demanding India to immediately stop buying Russian oil could lead to a surge in global oil prices. Sara Vakhshouri, founder of SVB Energy International, pointed out that Trump's high tariffs are a "negotiating strategy" aimed at "recovering America's lost market share in India's oil market and export decline since 2022, and ensuring a balance in exports of other goods to India."
Latest