Trump had imposed tariffs of more than 50%, including a 25% secondary tariff, on India, while avoiding similar action against China since a brief trade dispute in April.

Russian oil exporters are predicted to take in $153 billion this year, according to the Kyiv institute. Fossil fuels are the single largest source of budget revenue. The imports support Russia’s ruble currency and help Russia to buy goods from other countries, including weapons and parts for them.