By threatening to impose greater taxes on India due to its oil trade with Russia, US President Donald Trump seems to be taking a risk. His new comments have come under fire, particularly since they fail to acknowledge a crucial fact: the US had supported worldwide purchases of Russian oil throughout his previous tenure, with the support of many top advisers, to support price stability in global markets.
One of the major producers of oil in the world is still Russia. Russia has not been subjected to a complete ban on energy exports, whereas countries such as Iran and Venezuela are subject to broad restrictions. This strategic mismatch is acknowledged even by US officials. In early 2024, External Affairs Minister S Jaishankar firmly pushed back against Western double standards at the Munich Security Conference, pointing out that many Western countries were themselves purchasing Russian oil, some of which was even rerouted through third countries like India. Former US Ambassador to India Eric Garcetti had acknowledged the complex dependence on Russian oil.
India has maintained its position that it does not violate any international law. There are no restrictions on Russian oil, and India would abide by any global measures that are put in place.
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