'A Big Blow': Donald Trump Says India Tariffs Hit Russian Economy Hard Ahead Of His Meeting With Putin

(MENAFN- Live Mint) US President Donald Trump on Monday (US time) claimed that the tariffs on India for buying Russian oil have delivered a 'big blow' to Moscow's economy. In his latest remarks ahead of his meeting with Russian President Vladimir Putin next week in Alaska, President Trump called New Delhi one of Russia's 'largest or second-largest oil buyers'.

“Doesn't help when the President of the United States tells their largest or second-largest oil buyer that we're putting a 50 per cent tariff on you if you buy oil from Russia. That was a big blow,” Trump said in what appeared to be a reference to India.

Doubled India's tariffs

Last week, President Trump doubled India's tariffs to 50 per cent, citing Russian oil purchases. Trump imposed the 50 per cent tariff on India in two phases: a 25 per cent levy was first announced on 30 July, and the additional 25 per cent was announced on Wednesday, 7 August.

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President Trump confirmed that he will meet Russian President Vladimir Putin in Alaska on Friday.“I thought it was very respectful that the President of Russia is coming to our country, as opposed to us going to his country or even a third-party place. But I think we'll have constructive conversations,” he said.

Russian Economy

Trump also suggested that the Russian economy is not doing well because it's been“very well disturbed” by tariffs.

Doesn't help when the President of the United States tells their largest or second-largest oil buyer that we're putting a 50% tariff on you if you buy oil from Russia. That was a big blow.

“It's a massive country... I think they have 11 time zones, can you believe it... from the standpoint of land, they are by far the largest... They have tremendous potential in Russia to do well. They're not doing well. Their economy is not doing well right now because it's been very well disturbed by this,” Trump said.

(With agency inputs)

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