"We hear a lot of pronouncements that are essentially coercive in nature, demanding that countries curtail their trade and economic ties with Russia. We don't consider such pronouncements legitimate," Kremlin spokesman Dmitry Peskov said on 5/8, commenting on US President Donald Trump's continued threats to raise tariffs on India for buying Russian oil.
Peskov asserted that sovereign nations should have the right to choose their trading partners. Countries also have the right to choose forms of trade and economic cooperation that suit their national interests, he added.
This is the first time Moscow has spoken out since tensions arose between the US and Indian leaders over Russian oil imports. Russia is a key trading partner for India, particularly in the oil and gas sector.
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Kremlin spokesman Dmitry Peskov in Moscow, Russia, in 2/2022. *Reuters* |
President Trump said on 5/8 that tariffs on Indian goods could rise to 25% because the country continues to buy oil from Russia. He also accused India of buying Russian oil at discounted prices and "selling it into the market to make a great deal of money."
Trump criticized India as "not a good trade partner" and threatened further tariff increases.
India responded by criticizing the US and the European Union (EU) for "hypocrisy."
"This shows that the very countries that are criticizing India are still engaged in trade with Russia. Unlike us, their trade with Russia is not even essential," the Indian Ministry of External Affairs said.
Russia has become India's top oil supplier since the start of the conflict in Ukraine. Before the conflict, India imported less than 100,000 barrels of Russian oil per day, accounting for about 2.5% of its imports. This figure increased to over 1.8 million barrels per day in 2023, representing about 39% of imports, according to the US Energy Information Administration.
Ngoc Anh (*Reuters, CNBC*)