Former Vice President M. Venkaiah Naidu has voiced strong objections to the United States' stance on India's oil imports from Russia, especially in light of rising trade tensions between the two nations. Naidu asserted that India will prioritize its own national interests when making decisions about which countries to import from. He highlighted the apparent double standard of "people who are importing from Russia objecting to us for importing from Russia".
Naidu made these remarks against the backdrop of escalating trade tensions with the US, fueled by President Trump's decision to increase tariffs on Indian goods. The US has imposed a 25 per cent tariffs on India before its August 1 deadline kicked in, followed by additional 25 per cent tariffs that it announced on August 6 as punishment for buying Russian oil, taking the total tariffs on India to 50 per cent. India has called US' move to slap such steep tariffs for doing trade with Russia as “unfair, unjustified, unreasonable". The former Vice President emphasized that India would not compromise its strategic interests or energy security, resisting external pressures. He affirmed that India will safeguard its energy security and stand firm on its strategic and national interest, and that "threats will not work on India".
Naidu defended India's position as a "sovereign and vibrant democracy" with a robust growth rate of 6.5-7 per cent, contributing significantly to global GDP. He pointed out that India's contribution to global GDP is 18%, surpassing the United States' 11%. He questioned the fairness of the US imposing selective tariffs on allies like India while the US continues to import uranium and fertilizer, and the EU imports huge amounts of Russian crude from Russia.
He also expressed his disappointment with Washington's support for Pakistan, describing it as a "haven for terrorism".
Despite the trade friction, Naidu conveyed India's desire to maintain good relations with the US, emphasizing that both countries are democracies. He stressed India's belief in cooperation based on a "share and care" philosophy. He said that India is committed to working together with other nations.
These comments come in the wake of US President Donald Trump's remarks that there would be no trade negotiations with India until the tariff dispute is resolved. Former US National Security Advisor John Bolton has called Trump's tariffs on India a potentially "enormous mistake," suggesting they could push India closer to Russia and China.