Trump threatened India with a significant increase in duties on oil imports from Russia

On August 4, US President Donald Trump announced that he would significantly increase duties on India due to imports of Russian oil.

"India not only buys huge amounts of Russian oil, but also sells most of it on the open market, making huge profits. <...> I will significantly increase the duties paid by India to the United States," he wrote on his Truth Social network.

In his opinion, New Delhi is not concerned about the situation in the conflict in Ukraine.

Accelerating trend: oil consistently gains in price amid threats from the United States

Trump's intentions to initiate a trade war through secondary sanctions against Russia are putting pressure on quotes

On July 14, Trump announced secondary duties of 100% against countries that buy Russian oil if a peaceful settlement in Ukraine is not reached.

On August 4, the Global Times newspaper reported on the refusal of India and Brazil to stop buying oil from Russia, despite threats from Trump.

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