India Lists US and EU’s Trade Deals with Russia After Trump’s Tariff Threat
In a recent development, India has come out in defense of Russia’s trade practices after US President Donald Trump threatened to raise tariffs on Russia. India has pointed out that the United States and the European Union have significant trade deals with Russia, which has been a major trading partner for both regions.
According to reports, the EU has been Russia’s largest trading partner, with bilateral trade in goods valued at Euro 67.5 billion in 2024. The EU has also had trade in services estimated at Euro 17.2 billion in 2023. India, in a statement, highlighted that the US has been importing various goods from Russia, including uranium hexafluoride, palladium, fertilizers, and chemicals.
The Indian government’s statement was made in response to Trump’s threat to raise tariffs on Russia, which was announced earlier this week. Trump had stated that the US would impose tariffs on Russian goods in response to Russia’s alleged interference in the 2016 US presidential election.
India’s statement has been seen as a move to deflect attention from its own trade practices with Russia. The country has been increasingly dependent on Russian oil imports, which has raised concerns over India’s energy security.
The US and the EU have been critical of Russia’s trade practices, accusing it of unfair trade practices and violating international trade norms. The US has imposed sanctions on Russia over its alleged interference in the 2016 election, as well as its annexation of Crimea.
India, on the other hand, has been trying to balance its relations with the US and Russia. The country has been a key player in the Indo-Pacific region, where the US and China are engaged in a bitter rivalry. India has been trying to strengthen its ties with the US, while also maintaining its relations with Russia.
In recent years, India has been increasing its trade with Russia, which has become a major trading partner for the country. India has been importing oil and natural gas from Russia, which has helped to reduce its dependence on foreign oil.
India’s trade with Russia has also been growing in other sectors, including defense and technology. The country has been importing military equipment and technology from Russia, which has helped to strengthen its defense capabilities.
In conclusion, India’s statement listing the US and EU’s trade deals with Russia is a move to deflect attention from its own trade practices with Russia. The country has been increasingly dependent on Russian oil imports, which has raised concerns over India’s energy security. India has been trying to balance its relations with the US and Russia, while also strengthening its ties with other countries in the region.
