Kathmandu. It is estimated that if neighboring countries China and India stop buying crude oil from Russia, it can reach $ 150 per barrel. This has raised fears of a major loss to the global economy and a recession.
Political analyst Fareed Zakaria, in an interview, strongly criticized US President Donald Trump’s policy of imposing 50 percent tariff in India. “Twenty-five years of US foreign policy have backfired,” he said, which focused on strengthening strategic and economic ties with India. ’
An additional 25 per cent tariff on India for buying Russian oil will come into effect from August 27. “It’s irrational. Because China and India buy the most crude oil from Russia,” Farid said.
Farid claims that if China and India stop buying Russian oil, the price will go up to $ 150 per barrel. “It will cause great damage to the global economy, invite a recession,” he said. Trump’s decision appears to be motivated by personal interests. – Agency
