New Delhi: US Secretary of State Marco Rubio has said that the United States’ decision to pause for 60 days a proposed law imposing tariffs of up to 100% on countries buying Russian crude oil was influenced in part by an upcoming trade agreement with India.
Rubio said the India-US trade deal has reached its final stages. He is scheduled to arrive in Mumbai on Monday, where he will meet External Affairs Minister S. Jaishankar.
During the visit, Rubio is also expected to travel to Jamnagar in Gujarat to see what is described as the world’s largest crude oil refinery. The paused tariff measure had been aimed at goods from five major countries, including India and China, that purchase Russian oil.
Explaining the pause, Rubio said India is a key partner and cannot shift away from dependence on Russia for energy needs overnight. He cited pressure on global fuel supply and prices due to the Ukraine war and attacks by Houthi rebels on Saudi Arabia.
He added that President Donald Trump has taken a 60-day window to assess the economic impact of imposing such tariffs, and that the ongoing trade agreement effort with India was a significant factor considered in the decision.
