A breather for India? Trump says no new oil tariffs now, but warns of move in weeks

U.S. President Donald Trump said Friday he does not need to consider new retaliatory tariffs on countries buying Russian oil “right now” following his Alaska summit with Vladimir Putin—but warned he may revisit the issue “in two or three weeks.”

Speaking to Fox News, Trump credited his tariff threats with pressuring Moscow into talks. “Because of what happened today, I think I don’t have to think about that,” Trump said of fresh levies. “Now, I may have to think about it in two weeks or three weeks or something, but we don’t have to think about that right now.”

Trump claimed that his decision to target India with steep import duties influenced Russia’s decision to seek a meeting. “When I told India that we’re going to charge you, because you’re dealing with Russia and oil purchases, it essentially took them out of buying oil from Russia,” Trump said. “And then they (Russia) called, and they wanted to meet.”

The U.S. president argued that Russia, having lost India as its “second largest customer,” was forced back to the table. “India was the second largest, and getting pretty close to China. China is the largest purchaser of Russian oil,” he said.

But India has flatly denied altering its energy policy. On Thursday, Indian Oil Corporation chairman A.S. Sahney said there was “no pause” on Russian oil imports, insisting purchases continue on economic grounds. The Ministry of External Affairs called Trump’s tariffs “unjustified and unreasonable,” vowing to safeguard India’s national interests.

Trump last week announced a 25 percent hike in duties on U.S. imports from India—raising the overall tariff to 50 percent—as punishment for its continued Russian oil trade. The measures, effective August 27, threaten about $40 billion of Indian exports to the U.S.

The standoff underscores a growing fault line: Washington’s attempt to squeeze Moscow by penalizing its oil buyers, and India’s resolve to prioritize energy security despite U.S. pressure.