The US president has indicated that New Delhi is likely to face additional penalties for its oil purchases from Russia

US President Donald Trump has said India faces "a lot more" sanctions over its oil purchases from Russia, indicating that they could be in the form of secondary levies.

Trump's statement on Wednesday came just hours after he signed an executive order imposing an additional 25% tariffs on the South Asian nation for its continued energy trade with Russia.

"It's only been 8 hours. So let's see what happens. You're going to see a lot more... You're going to see so much secondary sanctions," Trump stated. He was responding to a question from a reporter on why India was apparently being singled out for its oil purchases from Russia.

Secondary sanctions are penalties that target third parties who interact with a sanctioned country, with the aim to limit their access to the sanctioning country's market.

"For us, the interest of farmers is our top priority," Indian Prime Minister Narendra Modi said in response to the sanctions on Thursday. "India will never compromise on the interests of farmers, fishermen, and dairy producers. I know we will have to pay a heavy price for it and I'm ready. India is ready for it."

The White House announced an additional 25% levy onIndian importson Wednesday, doubling the tariff burden it recently imposed on its major trading partner to 50%. The new duties are set to take effect in late August, according to an order signed by Trump.

While India and the US have been in the midst of trade negotiations for the last several months, no deal has been signed. New Delhi has said in the past that agriculture and dairy are "very big red lines" when it comes to trade negotiations with the US.

Trump had labeled India as a "tariff king" even as he stated that Modi is his good friend. In May, New Delhi said that it had proposed deep cuts in import tariffs on various goods, in an effort to reach a preliminary trade agreement with the US.

(RT.com)