E-Paper
Putin says US tariffs on Russia's trade partners could backfire: ‘PM Modi would never…’
Putin said if higher tariffs are imposed on Russia's trade partners, it would drive up global prices and force US Federal Reserve to keep interest rates high.
Russia's President Vladimir Putin on Thursday hit out at the US over its efforts to pressure India and China into cutting energy ties with Moscow, warning that such moves could backfire economically.
Putin said if higher tariffs are imposed on Russia's trade partners, it would drive up global prices and force the US Federal Reserve to keep interest rates high. US has imposed an additional 25% tariff on India, raising the total tax on Indian exports to 50% in August.
The Russian leader, who was addressing a forum of Russia experts, said "India and China will not allow to humiliate themselves".
Also Read: Russian President Putin to visit India in early December to bolster ties
Speaking on US calls for India to renounce Russian energy, Putin said, “If India refuses our energy supplies, it will suffer a certain loss ... of course, the people of a country like India, believe me, will closely monitor the decisions made by the political leadership and will never allow any humiliation in front of anyone.”
Putin further said that he knows that Prime Minister Narendra Modi would never take any such steps.
“I know Prime Minister Modi, he himself would never take any steps of this kind," he added.
Putin also invoked the US' Uranium ties with Moscow and said that while Washington buys enriched Uranium from Russia, it calls on other countries to stop buying Russian energy products.
The remark comes amid a flurry of attacks on India by the US over its purchase of Russian oil.
US President Donald Trump, along with his officials, including Commerce Secretary and White House trade advisor have repeatedly hit out at New Delhi in the last few months over the purchase of Russian oil.
Also Read: Russia's strong message to US over Trump tariffs: 'Threats to India, China won't work'
Trump's trade adviser, Peter Navarro, has attacked India, calling it a 'Maharaja of tariffs' and remarking, "Modi getting in bed with Putin, Xi Jinping" over the SCO Summit bonhomie.
Putin backs India amid US tariffs row
Last month, Russian President Putin had cautioned the United States against trying to strong-arm India and China with tariffs, saying "You cannot talk to India or China in that way."
“You cannot talk to India or China in that way,” Putting said while addressing reporters after the Shanghai Cooperation Organisation (SCO) summit.
“The colonial era is now over. They have to realise they can’t use these terms in speaking with partners," the Russian leader said.
Russian foreign minister Sergey Lavrov also hit out at Washington over its tariff rhetoric, saying “ancient civilisations” like India and China will not bow to ultimatums.
(With inputs from agencies)
