New Delhi [India], August 1 (ANI): The Ministry of External Affairs (MEA) on Friday responded to the US announcement of sanctions on Indian corporations concerned in buying and selling with Iran.
MEA spokesperson Randhir Jaiswal throughout weekly media briefing said that India has taken observe of the sanctions and is at the moment reviewing the state of affairs.
Jaiswal said, ‘We have taken observe of the sanctions, we’re wanting into it.’
The US has imposed sanctions on 20 entities concerned in Iranian petroleum, petroleum merchandise, or petrochemical commerce, and is figuring out 10 vessels as blocked property, together with seven India-based corporations.
Jaiswal emphasised that India’s power sourcing choices are primarily based on market situations and geopolitical developments.
When requested about Trump’s touch upon India doubtlessly shopping for oil from Pakistan, Jaiswal declined to remark, stating, ‘I’ve no feedback to supply on this matter.’
This response comes after Trump introduced a deal between the US and Pakistan to develop Pakistan’s oil reserves.
‘We have simply concluded a cope with the nation of Pakistan, whereby Pakistan and the United States will work collectively on creating their large oil reserves,’ Trump posted on Truth Social. ‘We are within the course of of selecting the oil firm that can lead this partnership. Who is aware of, possibly they’re going to be promoting oil to India some day!,’ Trump mentioned.
MEA spokesperson Randhir Jaiswal clarified that India would not have any particular info on Indian oil corporations stopping Russian oil purchases, emphasising that power sourcing choices are primarily based on market availability and international circumstances.
‘You are conscious of our broad strategy to power sourcing necessities, that we take a look at what is obtainable available in the market and the prevailing international state of affairs or circumstances. We are usually not conscious of any specifics,’ mentioned Jaiswal.
Jaiswal highlighted that India’s relationship with Russia stands by itself advantage, unaffected by third-party views, emphasising a gradual and time-tested partnership.
‘Our ties with any nation, or all of the ties that now we have with varied international locations, stand on their very own advantage and shouldn’t be seen via the prism of a 3rd nation. As far as India-Russia relations are involved, now we have a gradual and time-tested partnership,’ mentioned Jaiswal.
Jaiswal reaffirmed the robust India-US partnership, anchored in shared pursuits, democratic values, and people-to-people ties, expressing confidence within the relationship’s continued progress.
‘India and the United States share a complete international strategic partnership anchored in shared pursuits, democratic values, and sturdy people-to-people ties. This partnership has withstood a number of transitions and challenges. We stay centered on the substantive agenda that the 2 international locations have dedicated to and are assured that the connection will proceed to maneuver ahead,’ mentioned Jaiswal.
Recently, Trump has signed a contemporary government order imposing revised tariffs for 70 international locations, together with India and Pakistan, in a transfer that’s anticipated to pressure international commerce relations additional.
Tariffs imposed on India’s neighbouring international locations are lower than India’s 25 per cent, apart from Myanmar at 40 per cent. The new tariff for Pakistan is nineteen per cent, Afghanistan 15 per cent , Bangladesh 20 per cent, Indonesia 19 per cent, Japan 15 per cent, and Sri Lanka 20 per cent.
The new tariffs, outlined in a sweeping order signed on Friday (IST), will come into impact from 12:01 a.m. Eastern Daylight Time on August 7.
The government order states that the revised tariffs are aimed toward addressing the nationwide emergency declared earlier beneath Executive Order 14257.
Trump famous that he had ‘not too long ago acquired, amongst different issues’, new info and had decided it ‘mandatory and acceptable’ to impose extra advert valorem duties on the products of sure buying and selling companions.
These new duties will exchange these beforehand imposed beneath the identical order, as amended.
Other international locations on which the US imposed tariffs are increased than India embody Iraq (35 per cent), Laos (40 per cent), Libya (30 per cent), Serbia (35 per cent), South Africa (30 per cent), Switzerland (39 per cent), and Syria (41 per cent).
Countries that imposed decrease tariffs than India embody the UK (10 per cent), Vietnam (20 per cent), Taiwan (20 per cent ), and South Korea (15 per cent), to call a number of.
The order by Trump said, ‘I’ve decided that it’s mandatory and acceptable to cope with the nationwide emergency declared in Executive Order 14257 by imposing extra advert valorem duties on items of sure buying and selling companions’.
The government order additional directs that these adjustments will apply to items getting into the US for consumption or withdrawn from warehouses on or after the efficient date.
However, items already in transit earlier than the deadline, loaded on vessels and en route earlier than August 7 and getting into the US earlier than October 5, 2025, won’t be subjected to the revised duties however will as a substitute proceed beneath the beforehand relevant tariff charges beneath the amended Executive Order 14257. (ANI)