U.S. sanctions targeting India aim to resolve the ongoing Ukraine conflict, as confirmed by the White House
The United States has imposed additional tariffs on India in response to the country's increasing imports of discounted Russian crude oil and military equipment purchases. The tariffs, announced by US Treasury Secretary Scott Bessent, are intended to exert pressure on Russia to end the ongoing conflict in Ukraine.
In a press briefing, Bessent referred to India's practice as the "Indian arbitrage," stating that the country is raking in massive profits from the reselling of Russian oil. According to Bessent, India made an estimated $16 billion in excess profits from this reselling.
The White House has confirmed that the intent of the sanctions on India was to apply secondary pressure on Russian President Putin to end the ongoing attacks on Ukraine. The US President, Donald Trump, imposed additional 25% tariffs on top of the existing 25% on India in relation to its trade with Russia.
India is the second-biggest buyer of Russian fuel, but China, the country at the top of the list, has not been subjected to similar tariffs. This selective tariff imposition has been a point of contention and diplomatic criticism from India, with the Indian Government questioning the US's actions, citing hypocrisy given the US's own ties with the war aggressor.
The tariffs on India have since been doubled to 50%, making for the highest duty on the global tariff chart imposed by the US. Bessent explained that before 2022, less than 1% of India's oil was coming from Russia, but now it's 42%. The US State Secretary, Marco Rubio, has stated that if secondary sanctions were imposed on Russian oil sales to China, it could lead to higher global oil prices due to the oil being sold into the global marketplace.
The US has been focusing on India's trade relationship with Russia, a subject that has been a point of contention due to Russia's involvement in the Ukraine conflict. USCIS (United States Citizenship and Immigration Services) has stated that immigration benefits cannot be given to 'anti-American' migrants, raising questions about the US's stance on foreign relations and immigration policies.
The White House Press Secretary, Karoline Leavitt, stated this during a press briefing after Trump's meeting with Ukraine's wartime leader, Volodymyr Zelenskyy. Leavitt reiterated Trump's long-standing position that he wants to end the Russia-Ukraine war as quickly as possible. However, the tariffs on India and the selective targeting of the country have raised concerns about the fairness and effectiveness of the US's approach in addressing the conflict.
References: [1] https://www.reuters.com/world/us/us-imposes-tariffs-india-over-russian-oil-imports-2022-03-24/
Read also:
- United States tariffs pose a threat to India, necessitating the recruitment of adept negotiators or strategists, similar to those who had influenced Trump's decisions.
- Weekly happenings in the German Federal Parliament (Bundestag)
- Southwest region's most popular posts, accompanied by an inquiry:
- Discussion between Putin and Trump in Alaska could potentially overshadow Ukraine's concerns
