Political strategist Mikhail Sheitelman stated that India will have to give up Russian oil, as Trump has promised to increase tariffs, and his threats have already caused the rupee to fall in value, Politeka reports.
He shared this in his blog.
According to the expert, Trump is not backing down and continues to apply pressure. He has promised to raise tariffs on India, which are currently at 25%, because India not only buys Russian oil but also resells it on the open market, making huge profits.
“That’s how it is. Trump will pressure India until it stops buying oil from the Russians. And India is still putting up a fight, trying to explain that it’s all because of Western actions,” Sheitelman emphasized.
As the expert explained, referring to the Indian Ministry of Foreign Affairs, India used to purchase oil from other sources, but Western sanctions and the Middle East redirecting its supplies to Europe have left Russia as the only remaining option. So, India explained that there’s simply nowhere else to get oil — but Trump will surely have an answer to that.
“Trump will order the immediate opening of a so-called 'India well' in Texas. He’ll say, ‘These are India’s wells, we extract here and send it to India.’ Of course, for money, at market price — especially since we’re gradually crashing that market price. That’s what Trump will say. And a solution will be found for all of this. By the way, oil prices have dropped again. Despite all this turmoil, oil prices keep falling. However, the Indian rupee is also collapsing because everyone realizes India is in trouble. The rupee has dropped by 0.5% to a historic low — 88 rupees per dollar. It’s never been this cheap. And it’s all because of Trump’s words, his pressure,” Sheitelman concluded.
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