India Slams U.S. & EU-Russia Trade Policies as Trump Ramps Up Tariff Pressure

India fires back at Western trade double standards—just as Trump turns up the heat with new tariffs. Hypocrisy or hardball economics?

Trade tensions reach boiling point

New Delhi calls out America and Europe for cozying up to Russia while penalizing others. Meanwhile, Trump’s tariff hammer looms over Indian exports—because nothing says 'free market' like protectionist policies.

The finance jab: Maybe they should settle this with a Bitcoin-denominated trade war—at least then the volatility would be predictable.

India prioritizes economic security

According to the ministry, the U.S. previously commended India’s oil trade initiative for strengthening global energy market stability. They also condemned the EU and the U.S. for criticizing New Delhi, yet they indulge in trade with Russia. 

The EU and Russia traded goods worth 67.5B euros last year, up from 17.2B euros the previous year. Official data also shows India’s trade with Moscow reached a record $68.7 billion for the 12 months to March 2025.

The bloc accounted for 38.4% of Russia’s exports in 2024. Its bilateral trade with Russia also saw a 74% drop in 2024 from 275.5B euros in 2021. Moscow continues to export machinery and transport equipment, chemicals, iron and steel, and fertilizers to the EU.

India and Russia only traded a mere $10.1 billion during the pre-pandemic trade. The figures indicate that New Delhi’s trade was much lower than the EU’s trade with Russia.

The MEA condemned the U.S. for continued import of Russian Uranium, which it had banned in May 2024. The ministry noted that the Western country also imports palladium from Moscow to power its EV industry.

The ministry highlighted that the targeting of the country is unjustified and unreasonable. India said it will take all necessary precautions to protect its national interests and economic security.

Trump threatens higher tariffs on India

Trump had called out India last week for continuing its energy trade with Russia and imposed 25% tariffs on the country, plus additional penalties. The President also threatened to raise levies for New Delhi on Monday, but didn’t specify the level of the higher tariffs. 

Trump said that India didn’t care about the deaths in Ukraine as they continue to buy massive amounts of Russian oil. His deputy chief of staff, Stephen Miller, reiterated on Sunday that it was not acceptable for India to continue financing the conflict in Ukraine by purchasing Russian energy.

Trump has also accused India of purchasing cheap Russian oil and selling it on the Open Market for big profits. The U.S. Energy Information Administration reported that India went from importing 100,000 barrels per day before the conflict – 2.5% of its total imports – to more than 1.8 million barrels (39%) per day in 2023.

“Our bilateral relationships with various countries stand on their own merit and should not be seen from the prism of a third country. India and Russia have a steady and time-tested partnership.”

-Randhir Jaiswal, Spokesperson of the Ministry of External Affairs of India.

Former Indian foreign secretary Shyam Saran called for the country to follow the example of China and Brazil to stand up to the Trump administration. He argued that the President’s exaggerated demands had turned political as well as economic, and could undermine India’s national interests.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now