India, Aug. 4 -- US President Donald Trump on Monday said that he would "substantially increase" the tariff on Indian exports to the US over New Delhi's continued purchase of Russian energy. Trump last week announced a 25% rate on Indian exports and an unspecified penalty if India continued to buy oil from Russia.

"India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," said Trump on Truth Social, his social media platform.

Trump announced 25% tariff on Indian goods on Jul...