Sunday, 05 April 2026
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Kremlin slams Trump tariff pressure on India over Russian oil as illegal
Tuesday, 5 August 2025 18:38 WIB | GLOBAL ECONOMIC |Ekonomi Global

Russia accused the United States on Tuesday of exerting illegal trade pressure on India after U.S. President Donald Trump threatened again to raise tariffs on India over its purchases of Russian oil.

"We hear many statements that are in fact threats, attempts to force countries to cut trade relations with Russia. We do not consider such statements to be legal," Kremlin spokesman Dmitry Peskov told reporters.

"We believe that sovereign countries should have and do have the right to choose their own trading partners, partners for trade and economic cooperation, and to choose for themselves the forms of trade and economic cooperation that are in the interests of a particular country."

Trump has said that from Friday he will impose new sanctions on Russia as well as on countries that buy its energy exports, unless Moscow takes steps to end its 3-1/2 year conflict with Ukraine.

Russian President Vladimir Putin has signalled no change in Russia's stance on the war, despite the looming deadline.

New Delhi has called Trump's threats "unjustified" and vowed to protect its economic interests, deepening a trade rift between the two major economies.

Two Indian government sources told Reuters on the weekend that India will keep purchasing oil from Russia despite Trump's threats.

Source: Investing.com

RELATED NEWS
A US Trader's Guide to the Upcoming Supreme Court Tariff Ruling...
Thursday, 8 January 2026 20:09 WIB

The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds. Equity markets ha...

US Seizes Russian-Flagged Tanker, Another Linked to Venezuela as Trump Expands Oil Sector Push...
Thursday, 8 January 2026 15:54 WIB

The US seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one of which was sailing under a Russian flag, as part of President Donald Trump's aggressive efforts to regulate oil...

France Working With Allies On Plan Should US Move On Greenland...
Wednesday, 7 January 2026 17:56 WIB

France is working with partners on a plan on how to respond should the United States act on its threat to take over Greenland, a minister said on Wednesday, as Europe sought to address U.S. President ...

World Is Less Safe After US Action In Venezuela, Says UN Human Rights Office...
Tuesday, 6 January 2026 20:38 WIB

The world community must make clear that U.S. intervention in Venezuela is a violation of international law that makes the world less safe, the Office of the United Nations High Commissioner for Human...

Trump Threatens Iran Over Protest Crackdown as Deadly Unrest Erupts...
Friday, 2 January 2026 23:55 WIB

US President Donald Trump threatened on Friday to come to the aid of protesters in Iran if security forces open fire on them, days after unrest that has killed several people and posed the biggest int...

LATEST NEWS
Geopolitics Holds Back Oil, Inventory Data Acts As A Brake

Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...

Strong NFP, Gold Weakens : CPI Leads

Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...

Rally Stalls, Hang Seng Slips ; Large Caps Pressured

The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...

POPULAR NEWS