India claims its purchases are stabilizing the global market and supply.
President Donald Trump threatened to increase U.S. tariffs against India for its purchase of Russian oil. The U.S. president accused Delhi of buying “massive amounts” of Russian oil to resell for “big profits.”
“They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the tariff paid by India to the USA,” President Trump wrote in his post.
India’s government claims that its purchases of Russian oil have eased the supply pressure and contributed to stabilizing global oil prices. That nation’s government claimed they are being “singled out,” stating, “It is revealing that the very nations criticising India are themselves indulging in trade with Russia (despite the Ukraine war).” India claimed that the U.S. has continued imports of Russian uranium hexafluoride for the nuclear power industry, palladium, fertilisers, and chemicals.
As the Lord Leads, Pray with Us…
- For President Trump to seek God’s direction as he navigates trade, places tariffs, and seeks to end the war in Ukraine.
- For wisdom for the president and members of his Cabinet as they consider ways to leverage U.S. buying power to further foreign policy.
Sources: UPI News, Reuters, MSN
