U.S. President Donald Trump added further pressure to India on Wednesday by bumping up tariffs to 50% — but calls for India to immediately stop buying Russian oil could cause global crude prices to spike, industry sources told CNBC.

Trump has accused India of "fueling" Russia's war machine and said the country is "directly or indirectly importing Russian Federation oil ." As a result, the U.S. imposed an additional 25% tariff on India, bringing total levies against the major U.S. trading partner to 50%.

India was once encouraged to buy Russian crude by the United States, and, unlike LNG, Russian crude isn't sanctioned, but traded under a price cap to limit Moscow's ability to profit from its sale. India is one of the biggest buyers of Russian oil, according to data from Kpler whi

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