Former diplomat Ashok Sajjanhar says India has made its 'best possible offer' for a trade deal with the US, which now awaits President Trump's approval. He also called the US penalty on India for buying Russian oil 'very unfair'.
India-US Trade Deal Stalled
Former diplomat Ashok Sajjanhar commented on the ongoing trade tensions between India and the United States, stating that India has made the best possible offer and that the next step rests with Washington.
Speaking on tariffs imposed by the US on India and US President Donald Trump's stance, former diplomat Ashok Sajjanhar said, "We have known for quite some time that we have been waiting for Trump to sign the final negotiated bilateral trade agreement that was submitted to him at the beginning of July. In India, we thought it would be signed at any time. But days kept passing and weeks kept passing. We knew that at the level of the negotiators, the United States had been quite convinced about the balanced agreement. But obviously, Trump had not agreed to it."
India's 'Red Lines' in Negotiations
He stated that India has negotiated in good faith, ensuring better access for US products while maintaining certain non-negotiable areas. "We have been negotiating in good faith. We have done all we could to provide better access to US products... But there are a few red lines regarding GMOs and agricultural products. That was made clear to the American side that in areas like dairy products, certain social and religious sensitivities are involved, and we will not be able to move that," he explained.
Talking about the arrangements made even as trade tensions with the United States continue, he said, "The United States has also realised that we have provided them with the best offer, and we want a balanced deal. We don't want it to be a zero-sum game, where the United States gets everything, and India gets nothing."
Tensions Over Russian Oil Imports
He also criticised the 25 per cent penalty imposed on India for purchasing Russian oil, calling it "very unfair and uncalled for." Sajjanhar pointed out that other countries, including China and Turkey, are buying larger quantities of Russian oil without facing tariffs.
"The 25% penalty for purchasing Russian oil is very unfair and uncalled for. Many countries, like China, are buying much more oil from Russia than India is, but no tariffs have been imposed on them. There are other countries like Turkey. In fact, the United States itself is buying certain nuclear materials and fertilisers from Russia. When Putin met President Trump in Alaska, he said that trade between Russia and the United States had increased since Trump took office," he said.
Trump's Warning to PM Modi
Meanwhile, US President Donald Trump has held out a fresh warning to India over raising tariffs if continued imports of Russian oil, saying Prime Minister Narendra Modi was aware of his displeasure on the issue. Meanwhile, on Sunday (local time), Trump warned India over continued imports of Russian oil. Speaking aboard Air Force One, he said, "PM Modi's a very good man. He's a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly."
Global Oil Geopolitics
The US strike on Venezuela has brought the issue of Oil into the forefront of geopolitics once again. Venezuela has massive oil reserves, which total over 303 billion barrels, making them the world's largest proven reserves. However, production has dwindled to 1 million barrels per day due to US sanctions and underinvestment.
Venezuela holds the world's largest proven oil reserves (estimated at over 300 billion barrels), which represent roughly 17% of the total global oil supply, according to OPEC data. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)