The United States on 27 August began imposing tariffs of up to 50% on a broad range of Indian imports, escalating pressure on New Delhi to curb its purchases of discounted Russian crude. President Donald Trump’s order, framed as a bid to cut funds to Moscow, drew blunt rhetoric from White House trade adviser Peter Navarro, who said “the road to peace in Ukraine goes through New Delhi” and urged India to align with Western democracies. The levies threaten to reverse India’s gains from buying Russian oil at below-market prices. Reuters calculations indicate the higher duties could cost India about $37 billion this fiscal year, more than double the roughly $17 billion it saved on the cheaper barrels. Analysts warn the dispute puts at risk some $87 billion in Indian exports that rely on the U.S. market, while India’s Finance Ministry said the broader economic ripple effects will need close monitoring. Oil markets oscillated as traders weighed the policy shift. West Texas Intermediate rose 1.4% on Wednesday to $64.15 a barrel and Brent closed at $68.05 after U.S. crude inventories fell by 2.4 million barrels, according to Energy Information Administration data. The rally faded in Asian trading on 28 August, with WTI easing to $63.79 and Brent to $67.74 as investors factored in the approaching end of the U.S. summer driving season and the possibility of a supply glut if India redirects its sourcing. Uncertainty over the tariff standoff is expected to keep price volatility elevated.