Datanomics: US sermonises India, ignoring its own vital imports from Russia

While the US has cut down on goods import from Russia sharply, from $29.63 bn in 2021 -- when it attacked Ukraine -- to just $3 billion in 2024, it has ramped up exports of some other crucial items

After US President Donald Trump warned to raise “substantial” tariffs on Indian exports, New Delhi shot back accusing Washington and the European Union (EU) of targeting India unreasonably for its oil imports. India also said the US has itself been importing uranium, palladium, fertilisers and chemicals from Russia for its industry and agriculture and that the EU has higher trade with Russia than India has with that country.

 

US’ import of fertilisers, uranium and palladium on rise

 

While the US has cut down on goods import from Russia sharply, from $29.63 billion in 2021 -- when it attacked Ukraine -- to just $3 billion in 2024, it has ramped up exports of some other crucial items.

 

The US still imports goods such as fertilisers, uranium, palladium and chemicals from Russia. Fertilisers grew by 20.65 per cent in the first five months of 2025, while palladium and uranium imports have increased by 37.53 per cent and 28.17 per cent respectively.

 

The import of all these goods has risen year-on-year (Y-o-Y) and formed more than 90 per cent of US imports from Russia in these first five months. 

 

 

Rising gas supply between Russia and the EU 

The EU-Russia trade in goods, including energy, has declined since the start of the Russia-Ukraine war in value terms. However, the import of Russian gas by the EU in volume terms rose by 18 per cent from 38 billion cubic metres (bcm) in 2023 to 45 bcm in 2024, according to energy think tank Ember.

 

 

EU-Russia trade still higher than that of New Delhi-Moscow

 

India still had a lower goods trade with Russia than the EU in 2024, despite increased energy imports by India from Russia.