Overview

• The White House has a 25% reciprocal tariff in place on Indian goods, with an additional 25% oil-linked penalty set to begin around August 27.
• US Vice President JD Vance told NBC that the secondary tariffs on India are intended to cut Russia’s oil revenues and push Moscow toward ending the war in Ukraine.
• India’s ambassador to Russia, Vinay Kumar, and External Affairs Minister S. Jaishankar condemned the duties as unfair and said India will keep buying oil based on commercial terms and energy security needs.
• Jaishankar noted what he called double standards, saying similar scrutiny has not been applied to China or European buyers of Russian energy, and India confirmed its rupee–ruble payment mechanisms are working.
• Prime Minister Narendra Modi pledged to shield farmers and small businesses as trade talks were suspended and officials prepared relief and contingency steps for exporters.