<p>New Delhi: There is no clarity on the penalty which US President Donald Trump has proposed to impose on India for buying crude oil and military equipment from Russia, sources said on Friday.</p>.<p>On Wednesday, Trump announced the <a href="https://www.deccanherald.com/business/obnoxious-non-monetary-trade-barriers-trump-announces-25-tariff-plus-penalty-on-india-from-august-1-3656586">imposition of a 25 per cent tarif</a>f on all goods coming from India starting August 1, plus an unspecified penalty.</p>.<p>The imposition date has been shifted to August 7 as per the executive order issued by the White House.</p>.<p>However, the order is silent on the penalty part.</p>.Trump, tariffs, and trouble: India's textile exports to US may face severe hit due to 25% tariff.<p>"We are keeping our fingers crossed on the issue as there is no mention of penalty in the order," sources added.</p>.<p>The announcement of duty and penalty is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union.</p>.<p>India is the first country to face a penalty for Russian imports. Previously, Trump slapped high tariffs on China but refrained from levying any penalty despite Beijing being Russia's largest oil importer.</p>.<p>India's import of crude oil from Russia has risen from 0.2 per cent of total purchases before the Russia-Ukraine war to 35-40 per cent now. New Delhi is the largest buyer of Russian oil after China.</p>.'India-US ties weathered many storms', says MEA amid Trump's 25% tariff announcement, 'dead' economy jibe.<p>Trump has earlier stated that India has always purchased a significant amount of military equipment and energy products from Russia at a time when everyone wants Russia to stop the "killing" in Ukraine.</p>.<p>From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with Trump announcing a penalty along with tariff.</p>.<p>India historically bought most of its oil from the Middle East, including Iraq and Saudi Arabia. However, things changed when Russia invaded Ukraine in February 2022.</p>
<p>New Delhi: There is no clarity on the penalty which US President Donald Trump has proposed to impose on India for buying crude oil and military equipment from Russia, sources said on Friday.</p>.<p>On Wednesday, Trump announced the <a href="https://www.deccanherald.com/business/obnoxious-non-monetary-trade-barriers-trump-announces-25-tariff-plus-penalty-on-india-from-august-1-3656586">imposition of a 25 per cent tarif</a>f on all goods coming from India starting August 1, plus an unspecified penalty.</p>.<p>The imposition date has been shifted to August 7 as per the executive order issued by the White House.</p>.<p>However, the order is silent on the penalty part.</p>.Trump, tariffs, and trouble: India's textile exports to US may face severe hit due to 25% tariff.<p>"We are keeping our fingers crossed on the issue as there is no mention of penalty in the order," sources added.</p>.<p>The announcement of duty and penalty is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union.</p>.<p>India is the first country to face a penalty for Russian imports. Previously, Trump slapped high tariffs on China but refrained from levying any penalty despite Beijing being Russia's largest oil importer.</p>.<p>India's import of crude oil from Russia has risen from 0.2 per cent of total purchases before the Russia-Ukraine war to 35-40 per cent now. New Delhi is the largest buyer of Russian oil after China.</p>.'India-US ties weathered many storms', says MEA amid Trump's 25% tariff announcement, 'dead' economy jibe.<p>Trump has earlier stated that India has always purchased a significant amount of military equipment and energy products from Russia at a time when everyone wants Russia to stop the "killing" in Ukraine.</p>.<p>From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with Trump announcing a penalty along with tariff.</p>.<p>India historically bought most of its oil from the Middle East, including Iraq and Saudi Arabia. However, things changed when Russia invaded Ukraine in February 2022.</p>