Don’t end up punishing India: JP Morgan CEO urges Trump on punitive tariffs on Russian crude

Jamie Dimon, CEO and chairman of JP Morgan Chase, the world's largest bank in terms of market capitalisation urged Washington that it should assess how Indian refiners use Russian crude and not merely slap punitive tariffs on Indian goods after Donald Trump set into motion a law laying down steep tariffs on buyers of Russian crude oil.

Kolkata: Washington should not slap punitive tariffs against Indian for buying Russian crude, Jamie Dimon, CEO and chairman of JPMorgan Chase, the world’s largest bank by market cap has said and urged the Donald Trump administration to consider how Indian refiners use the crude oil imported from that country. His comment followed the US president formalising a law that allows import tariff of up to 100% on major buyers of Russian oil and gas. India is the second biggest buyer of Russian energy after........

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