US President Donald Trump has suggested that he may reconsider imposing a 25% secondary tariff on India over its continued purchase of Russian crude oil. While speaking to Fox News ahead of his high-stakes summit with Russian President Vladimir Putin in Alaska, Trump claimed that Russia had effectively lost India as a major oil client following Washington’s penalty announcement. However, he left the door open for flexibility, stating, “If I have to do it, I’ll do it. Maybe I won’t have to do it.”

Despite Trump’s remarks, New Delhi has not officially confirmed any halt in its oil imports from Moscow. The 25% secondary tariff, which would come on top of a previously announced 25% duty on Indian goods, is expected to take effect on August 27. This would bring the total US tariff burden on Indian exports to 50%, the highest imposed on any country, alongside Brazil.

Trump had earlier ramped up pressure on India by doubling existing tariffs, citing New Delhi’s continuous import of Russian oil despite Western sanctions. India strongly condemned the move as “unfair, unjustified, and unreasonable,” warning it would impact vital export sectors such as textiles, marine products, and leather goods. Prime Minister Narendra Modi affirmed that India would not succumb to economic coercion.

A Bloomberg report claimed that some Indian state-run refiners had already paused Russian oil purchases following Trump’s tariff threats, though Indian authorities have made no official announcement. Indian Oil Corporation Chairman AS Sahney clarified that India continues to buy Russian oil based purely on economic grounds.

India emerged as Russia’s top oil customer in 2022 after Western nations imposed sanctions in response to the invasion of Ukraine. A recent State Bank of India report warned that halting Russian crude imports could raise India’s oil import bill by $9 billion this financial year and up to $12 billion in the next. The report suggested alternatives such as Iraq, Saudi Arabia, and the UAE should India be forced to pivot away from Russian supplies.

Meanwhile, data firm Kpler Ltd reported that Russian crude is being sold to India at discounted rates amid declining global demand and growing pressure from US and EU sanctions, according to Bloomberg.