The old saying is that both friendship and business stand on par. But where the equality breaks, there is a sourness in the relationship. This story is from India and America today. On one hand, both countries are called the world’s largest partner. At the same time, the Trump administration has kept a 50 percent tariff on India. The US has taken this step as part of an attempt to pressurize India. Now America has put a new condition in front of India. India will have to stop taking oil from Russia and buy American oil, petroleum products and LNG. In fact, from August 27, the US doubled the tariff on India. The first was 25 percent and then increased it to 50 percent. India is buying cheap oil from Russia.
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The Trump administration feels that Russia is getting financial help from India’s move. The Trump administration has directly described it as a hindrance in the US India Trade Relations. Not only this, now America has put another condition. Amidst the US opposition to India’s purchase of Russian oil, Sergio Gor, nominated by US President Donald Trump for the next US ambassador to India, indicated that the US wants India to open its markets for American crude oil and petroleum products. Gore’s comment has come amidst trade tension between India and the US, as Trump has imposed 50% tariff on Indian imports. Half of these tariffs were imposed with Russia citing India’s oil trade. Gore also said that both countries are moving towards resolving some issues.
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Gore said the possibilities are endless … We have full intention to open (Indian) markets for our crude oil, petroleum products and LNG in these ongoing business talks. Gore said highlighting India’s middle class population. We have countless possibilities to expand in those markets and we have full intention to do so. Indicating the improvement in relations between India and Russia, Sergio Gor reiterated that Donald Trump wants India to shut down its oil trade with Russia. Gore said that President Trump has made it clear that India should stop buying Russian oil.