US imposes 50% tariffs on India for buying Russian oil

The United States has imposed tariffs of up to 50 percent on India. The US authorities justified the increase in tariffs by India's purchases of Russian oil. The parties have held five rounds of negotiations, but to no avail, according to media reports.

The Indian government does not expect the measures to be eased soon, a source in the Indian Commerce Ministry told Reuters.

According to the source, the authorities will help exporters affected by the tariffs and encourage them to redirect their export flows to markets in China, Latin America and the Middle East.