Israel Prime Minister Benjamin Netanyahu on Thursday said it would be in the interest of both India and the United States to resolve the ongoing tariff dispute. He also expressed a desire to visit India soon, according to media reports.
Speaking to a group of visiting Indian journalists, Netanyahu highlighted the potential to deepen India-Israel cooperation in areas such as intelligence sharing and counter-terrorism. His remarks came a day after meeting India’s ambassador to Israel, JP Singh, in Jerusalem to discuss strengthening bilateral ties, particularly in security and economic sectors.
The Israeli PM’s comments followed a fresh trade blow from Washington, with US President Donald Trump doubling tariffs on India to 50 per cent over New Delhi’s continued purchase of Russian oil. The hike came in two phases — a 25 per cent duty announced on July 30, and an additional 25 per cent on Wednesday — under an executive order titled Addressing Threats to the US by the Government of the Russian Federation. The first duty takes effect on August 7, and the additional levy will kick in on August 27.
India strongly criticised the move, calling it “unfair, unjustified and unreasonable.” New Delhi defended its Russian oil imports as being market-driven and essential for ensuring the energy security of its 1.4 billion people. It also noted that several other countries were taking similar actions in their national interest.
India, which imports around 88 per cent of its crude oil needs, sourced barely 0.2 per cent from Russia until 2021, according to PTI data. Officials said the country would take all necessary steps to protect its national interests.