Russian President Vladimir Putin is set to visit India in late August, according to a statement by India’s National Security Adviser, Ajit Doval, during his visit to Moscow on Thursday. The announcement was reported by the Interfax news agency.
There has been no official confirmation from the Indian government. Furthermore, Prime Minister Modi is scheduled to travel to Japan and China on 28 August.
US President Donald Trump, on Wednesday, issued a fresh executive order slapping an additional 25% tariff on imports from India, citing the country’s alleged direct and indirect import of oil from the Russian Federation. This brings the combined tariffs imposed by the United States on its ally to 50%.
The US executive order claims India’s energy trade undermines US foreign policy and national security interests.
The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.
According to the executive order, the White House has determined that the Indian government is importing Russian crude oil or petroleum products either directly or via intermediaries.
The directive defines “indirectly importing” as procurement through third countries or middlemen where the Russian origin of the oil can reasonably be traced.
India’s State Refiners Pause Russia Oil Buys as US Adds Pressure
India’s state-owned oil refiners are pulling back from purchases of Russian crude for now, according to people with direct knowledge of the companies’ procurement plans, as Washington ratchets up the pressure on New Delhi over the flows with a wave of harsh tariffs.