"U.S. Official Expresses President Trump's Dissatisfaction: India persists in purchasing Russian oil disregarding imposed tariffs"

In a recent development, White House economic adviser Kevin Hassett has expressed disappointment towards India for continuing to buy oil from Russia. His remarks came in response to India's ongoing oil purchases from Russia, a move that has been criticised by the US as fueling Russia's war in Ukraine, a claim India has repeatedly rejected.

Finance Minister Nirmala Sitharaman, however, has stated that India will continue to buy oil from Russia due to cost-effectiveness. She made these comments while speaking to CNN-News18. Sitharaman also mentioned that the government is working on a relief package for Indian exporters affected by US tariffs.

The Indian government expects negotiations on a relief package to mitigate the impact of US tariffs on exporters to take place around the period up to the end of September 2025. This expectation is based on the temporary suspension of raw cotton import duties from August 19 to September 30, 2025, which is part of measures to stabilise prices and enhance export competitiveness amid ongoing bilateral trade talks with the US.

India currently faces a 50% tariff from the United States, half of which is a penalty for buying oil from Russia. The US President and his trade team are reportedly disappointed that India is funding Russia's Ukraine war through oil purchases. India, however, has labeled the US' actions towards them as "unjustified" and "unfair".

Meanwhile, the unemployment rate in the United States has reached its highest since 2021, at 4.3%. Kevin Hassett, the White House economic adviser, has also commented on this, expressing disappointment but hope for the future of the American economy.

Sitharaman believes that India will make a decision on the supply source that best suits its needs, including cost and logistics. The new GST reforms introduced by the Indian government are expected to help in the same regard. It remains to be seen how these developments will unfold in the coming weeks and months.