Trump explained to reporters on Wednesday, in response to a question about his plans to impose higher tariffs on China: “It may happen, it depends on how things go.” When asked about the possibility of lifting tariffs on Indian imports if a peace agreement regarding Ukraine is reached, Trump confirmed that he would make this decision later. He stated earlier that he was informed India intends to refuse to purchase oil from Russia. Meanwhile, the Indian newspaper “Mint,” citing sources, reported that state-owned Indian oil refineries continue to purchase oil from Russian suppliers.
India is the third-largest energy importer in the world, buying more than 80% of its oil consumption from global markets. Earlier, the “Times of India,” citing data from the commodity market analytics company “Kpler,” reported that India’s imports rose to their highest level in 11 months in June. This increase in purchases came after escalating geopolitical tensions between Israel and Iran.
