The bilateral trade between US and Russia has grown since the Trump administration came to power, Russian President Vladimir Putin said during a press conference in Alaska on Friday.
Making a rare foreign appearance after the talks with Trump, Putin said that US-Russia trade saw a ‘symbolic’ growth of 20 per cent since the Republican leader came to power.
“When the new administration came to power, the bilateral trade started to grow. It’s still very symbolic. Still, we have a growth of 20 per cent,” Putin said.
He indicated that Russia and US can still offer each other business and trade.
“We have a lot of dimensions for joint work. Russia and the US can offer each other so much in trade, digital, high tech, and space exploration,” Putin said.
The Russian President's remarks come at a time when the US is penalising India for buying Russian oil.
US doubles India tariffs, but trade grows with Russia
Earlier this month, Donald Trump penalised India for continuing to buy Russian oil despite sanctions over the country in the aftermath of the Ukraine war.
India's tariff now stands at 50 per cent and will come into effect from August 27.
Trump has not announced concessions on the US tariffs on India despite calling the meeting with Trump positive. However, Putin's statement indicates his own country has increased trade with Russia after Trump came to power.
India's reaction to Trump tariffs
The Ministry of External Affairs had called the Trump tariffs unfair after they were doubled.
“The United States has in recent days targeted India’s oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” the MEA said.
“It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” the MEA added.
India has repeatedly cited examples of other countries, including China, who have continued to purchase energy from Russia without having to face consequences. However, it still remains the only country to be tariffed by the US for buying Russian oil.
