Moneycontrol PRO
LAMF
LAMF

US tariffs on India’s oil imports a ‘big blow’ to Moscow, says Trump ahead of meeting with Putin

The US President’s remarks came at a press briefing in White House. He claimed that Russia's economy has been severely disrupted by the ongoing global pressures due to the imposition of US tariffs on several countries
August 12, 2025 / 06:49 IST
US President Donald Trump

Ahead of his meeting with Russian President Vladimir Putin in Alaska, US President Donald Trump on Monday claimed that American tariffs imposed on India for buying Russian oil have delivered a “big blow” to Moscow’s economy, referring to New Delhi as Russia’s “largest or second-largest oil buyer”.

The US President’s remarks came at a press briefing in White House. He claimed that Russia's economy has been severely disrupted by the ongoing global pressures due to the imposition of US tariffs on several countries.

“I think Russia has to get back into building their country. It's a massive country... 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," he was quoted as saying by news agency PTI.

"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 an apparent reference to India.

Trump administration recently imposed an additional 25 per cent tariff on India over its purchases of Russian oil, in addition to the 25 per cent reciprocal tariff announced earlier – resulting in a total of 50 per cent duties. New Delhi has strongly condemned the tariffs as "unfair, unjustified and unreasonable" and said it would do everything to protect its national interests.

Trump to meet Putin –

Trump is scheduled to meet Russian President Vladimir Putin in Alaska on Friday, where he expects "constructive conversations".

"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, adding that he would speak with European leaders after the meeting.

Trump also mentioned his plans to engage with Ukrainian President Volodymyr Zelenskyy.

"The next meeting will be with Zelenskyy and Putin, or Zelenskyy and Putin and me. I'll be there if they need but I want to have a meeting set up between the two leaders," he said.

Trump also claimed that he has solved five wars so far in his second term in the White House and again claimed he stopped the conflict between India and Pakistan. India, however, has consistently denied his claims and stated that the understanding on cessation of hostilities with Pakistan was reached following direct talks between the directors general of military operations (DGMOs) of the two militaries.

(With agencies inputs)
Moneycontrol News
first published: Aug 12, 2025 06:49 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347