Oil closed 1% lower Wednesday after President Donald Trump announced new India tariffs. Traders seem to believe Trump won't really follow through.

The US president said that India is selling Russian oil on the open market "for big profits"

Trump claims India is buying Russian oil and reselling it for profit, disregarding the Ukraine conflict.

Trump claims India is buying Russian oil and reselling it for profit, disregarding the Ukraine conflict.

President Donald Trump said on Monday he will substantially raise tariffs on India over its purchases of Russian oil.

US president accuses India of buying Russian oil and reselling it on the open market ‘for big profits’.

Russia is one of India’s top oil suppliers and trade partners, contributing to around 35% of the country’s total supplies.

Washington: President Donald Trump threatened Monday to hike US tariffs on goods from India over its purchases of Russian oil — a key source of revenue for Moscow’s war on…

The US president says India doesn't care "how many people in Ukraine are being killed" - but India calls the tariff threat "unjustified".

Trump said he will “substantially” raise tariffs on India for buying Russian crude — and selling derivative products — as Indian leaders voice their resistance.

U.S. President Donald Trump has threatened India with increased tariffs over its purchase of Russian oil amid Moscow's war in Ukraine.

The US President emphasized that he was going to raise tariffs for India very substantially over the next 24 hours

Crude futures fell again on Tuesday as traders become increasingly convinced that Russian oil exports won't be interrupted despite Trump's tariff threats.

SINGAPORE: Oil prices climbed on Wednesday, rebounding from a five-week low in the previous day, on concerns of supply disruptions after US President Donald Trump’s threats of…

Trump has previously said that India’s purchase of Russian oil has helped finance Moscow’s war in Ukraine.

Trump last week said that goods from India would be subject to a tariff of 25%, in addition to a "penalty" over the country's purchase of military equipment and energy from Russia.

President Donald Trump on Wednesday raised tariffs on goods imported from India to 50% in response to the purchase of Russian oil, retaliating to stop the Ukraine war.

If India were to stop buying Russian oil today, global crude prices would jump, industry sources in the Indian petroleum sector told CNBC,

Trump signed an executive order accusing India of “directly or indirectly importing Russian Federation oil.”

Trump's tariffs on Russian energy buyers would be a blow for Moscow, but the Kremlin's line on Ukraine is unchanged.

"We’ll determine that later," US president said