Washington: US President Donald Trump announced plans to raise tariffs on India "very substantially" within the next 24 hours, attributing the decision to New Delhi's ongoing purchases of Russian oil and the high trade barriers imposed by India.

According to Anadolu Agency, during an interview with CNBC, Trump stated, "So we settled on 25% but I think I'm going to raise that very substantially over the next 24 hours, because they're buying Russian oil. They're fueling the war machine. And if they're going to do that, then I'm not going to be happy." Trump further criticized India for maintaining the world's "highest tariffs," which he claims have hindered US-India business relations.

Trump has accused India of benefiting from the resale of Russian oil, expressing his concerns on Truth Social by stating that New Delhi buys "massive amounts" of Russian oil and profits significantly from reselling it. He also highlighted the humanitarian impact, saying, "They don't care how many people in Ukraine are being killed by the Russian War Machine."

Previously, Trump announced a 25% tariff on Indian imports starting August 1, citing similar concerns over trade barriers and oil purchases from Moscow. Additionally, he warned that countries purchasing Russian oil would face 100% secondary tariffs unless a peace agreement is reached between Moscow and Ukraine.

In response, India defended its actions on Monday, emphasizing the necessity to "safeguard national interests." It was reported that Russian oil constituted 35-40% of India's total oil imports in the past year.