financetom
Business
financetom
/
Business
/
US adviser Navarro says India's Russian crude buying has to stop
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US adviser Navarro says India's Russian crude buying has to stop
Aug 17, 2025 10:32 PM

(Reuters) -White House trade adviser Peter Navarro said India's purchases of Russian crude were funding Moscow's war in Ukraine and had to stop, adding that New Delhi was "now cozying up to both Russia and China."

"If India wants to be treated as a strategic partner of the U.S., it needs to start acting like one," Navarro wrote in an opinion piece published in the Financial Times.

India's Foreign Ministry has previously said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia. U.S. President Donald Trump an additional 25% tariff on Indian goods earlier this month, citing New Delhi's continued purchases of Russian oil, taking total tariffs on imports from India to 50%.

"India acts as a global clearinghouse for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs," Navarro said.

The adviser also said it was risky to transfer cutting-edge U.S. military capabilities to India as New Delhi was "now cozying up to both Russia and China."

Longtime rivals China and India are quietly and cautiously strengthening ties against the backdrop of Trump's unpredictable approach to both. Indian Prime Minister Narendra Modi is set to meet Chinese President Xi Jinping at the end of the month while Chinese Foreign Minister Wang Yi will visit India from Monday for talks on the disputed border between the two countries.

A planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been called off, a source said over the weekend, delaying talks on a proposed trade agreement and dashing hopes of relief from additional U.S. tariffs on Indian goods from August 27.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Dream Asset Management Boosts Stake in Dream Impact Trust to 40.2%
Dream Asset Management Boosts Stake in Dream Impact Trust to 40.2%
Nov 21, 2025
04:34 PM EST, 11/21/2025 (MT Newswires) -- Dream Unlimited ( DRUNF ) said late Friday that its subsidiary, Dream Asset Management Corporation, increased its stake in Dream Impact Trust (MPCT.UN) after receiving units in lieu of asset management fees. Dream Asset Management acquired 450,000 units of the trust as payment under the management agreement, representing about 2.4% of Dream Impact's...
Immunovant Insider Sold Shares Worth $298,237, According to a Recent SEC Filing
Immunovant Insider Sold Shares Worth $298,237, According to a Recent SEC Filing
Nov 21, 2025
04:28 PM EST, 11/21/2025 (MT Newswires) -- Melanie Gloria, Chief Operating Officer, on November 20, 2025, sold 12,626 shares in Immunovant ( IMVT ) for $298,237. Following the Form 4 filing with the SEC, Gloria has control over a total of 173,511 common shares of the company, with 173,511 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1764013/000176401325000156/xslF345X05/wk-form4_1763760245.xml ...
LaFayette Acquisition Corp. Announces the Separate Trading of Its Ordinary Shares and Rights, Commencing on or About November 26, 2025
LaFayette Acquisition Corp. Announces the Separate Trading of Its Ordinary Shares and Rights, Commencing on or About November 26, 2025
Nov 21, 2025
Paris, France, Nov. 21, 2025 (GLOBE NEWSWIRE) -- LaFayette Acquisition Corp. ( LAFAU ) (the “Company”) announced today that, commencing on or about Wednesday, November 26, 2025, holders of the units sold in the Company’s initial public offering may elect to separately trade the ordinary shares and rights included in the units. The ordinary shares and rights that are separated...
Advanced Micro Devices Insider Sold Shares Worth $4,461,296, According to a Recent SEC Filing
Advanced Micro Devices Insider Sold Shares Worth $4,461,296, According to a Recent SEC Filing
Nov 21, 2025
04:28 PM EST, 11/21/2025 (MT Newswires) -- Forrest Eugene Norrod, Executive Vice President and General Manager, Data Center Solutions Group, on November 19, 2025, sold 19,450 shares in Advanced Micro Devices ( AMD ) for $4,461,296. Following the Form 4 filing with the SEC, Norrod has control over a total of 300,348 common shares of the company, with 300,348 shares...
Copyright 2023-2026 - www.financetom.com All Rights Reserved