Menu

Search

  |   Politics

Menu

  |   Politics

Search

Trump Claims Modi Vowed to End Russian Oil Imports Amid U.S.-India Trade Tensions

Trump Claims Modi Vowed to End Russian Oil Imports Amid U.S.-India Trade Tensions. Source: Prime Minister's Office (GODL-India), GODL-India, via Wikimedia Commons

U.S. President Donald Trump reaffirmed on Sunday that Indian Prime Minister Narendra Modi assured him India would halt its purchases of Russian oil. Speaking aboard Air Force One, Trump warned that India could continue facing “massive” tariffs if it fails to follow through. “I spoke with Prime Minister Modi of India, and he said he’s not going to be doing the Russian oil thing,” Trump told reporters.

When asked about India’s claim that no such conversation took place, Trump responded, “If they want to say that, then they’ll just continue to pay massive tariffs, and they don’t want to do that.” The issue of Russian oil imports remains a key sticking point in ongoing U.S.-India trade negotiations. Half of Trump’s 50% tariffs on Indian goods are said to be in retaliation for India’s continued oil purchases from Russia, which Washington argues help fund Moscow’s war in Ukraine.

India, now the largest buyer of discounted Russian seaborne oil, began ramping up imports after Western nations imposed sanctions following Russia’s 2022 invasion of Ukraine. Trump claimed that Modi personally confirmed India would stop buying Russian oil, but India’s foreign ministry stated it was unaware of any such conversation and reiterated that New Delhi’s main concern is to “safeguard the interests of the Indian consumer.”

A White House official later said India had reduced its Russian oil imports by half, though Indian sources disputed seeing any immediate decline. Market data from commodities firm Kpler suggests that India’s Russian oil imports are expected to rise by about 20% this month to 1.9 million barrels per day as Russia boosts exports following Ukrainian drone attacks on its refineries. Analysts believe any visible cut in India’s imports may appear only in December or January trade data.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.