Overview

• Tariffs of 50% on a wide range of Indian goods took effect on August 27, doubling the earlier 25% surcharge imposed this month.
• U.S. officials frame the move as part of a broader effort to weaken Moscow’s war financing by targeting India’s energy trade with Russia.
• The measure includes carve-outs, with exemptions for products such as pharmaceuticals and computer chips, according to official guidance.
• India has publicly defended its procurement policy as price-based, with its ambassador in Moscow saying companies will keep buying where the deal is best.
• Russia’s first deputy prime minister said fuel supplies to India will continue, while Bloomberg reports—citing unnamed sources—that Indian refiners may trim Russian crude purchases in October to about 1.4–1.6 million barrels per day from roughly 1.8 million earlier.