In a high-stakes geopolitical move, US President Donald Trump claimed that his 50% tariff on India for purchasing Russian oil has delivered a “big blow” to Moscow’s already struggling economy.
Speaking at a press conference at the White House on Monday, Trump referred to India as Russia’s “largest or second-largest oil buyer” and suggested the tariff was a direct hit on the Kremlin’s finances.
Last week, Trump doubled the tariff rate on India — from 25% to 50% — citing New Delhi’s continued imports of Russian crude. The duty was imposed in two phases: an initial 25% announced on July 30, followed by an additional 25% under an executive order on August 7 titled “Addressing Threats to the US by the Government of the Russian Federation.”
‘Russia’s Economy Not Doing Well’
Trump argued that the Russian economy is “very well disturbed” by the growing wave of tariffs and sanctions.
“It’s a massive country — 11 time zones, the largest by land — with tremendous potential. But right now, they’re not doing well,” Trump said.
“It doesn’t help when the President of the United States tells their largest or second-largest oil buyer, ‘We’re putting a 50% tariff on you if you buy oil from Russia.’ That was a big blow.”
Putin-Trump Summit in Alaska
The US President is set to meet Russian President Vladimir Putin in Alaska on Friday, August 15, marking Putin’s first visit to the United States since 2015. The talks aim to push Moscow towards a ceasefire with Ukraine after more than three years of war.
“I thought it was very respectful that the President of Russia is coming to our country,” Trump remarked. “I believe we’ll have constructive conversations, and I’ll also speak with European leaders after the meeting.”
Zelensky Could Join the Table
Trump also revealed plans to include Ukrainian President Volodymyr Zelensky in future discussions.
“The next meeting will be with Zelensky and Putin — or Zelensky, Putin, and me. I’ll be there if needed, but I want a meeting between the two leaders,” he said.
If realised, the trilateral engagement could mark a rare moment of direct dialogue between Ukraine and Russia with Washington as a mediator.
