Kremlin says India-Russia ties ‘important’ amid Trump claims on stopping Russian oil buys | India News

Russia’s Kremlin on Tuesday said its strategic partnership with India is ‘extremely important’. This comes after US President Donald Trump claimed that India will stop buying crude oil from Russia under the US agreement.

Russian spokesman Dmitry Peskov noted that Moscow did not receive an official statement from India regarding the suspension of oil purchases from Russia.

Trump claimed that India had agreed to buy $500 billion worth of US goods and stop importing Russian crude oil, presenting this as a step towards strengthening economic ties between the US and India.
According to Reuters, ‘Our strategic partnership is very important.

On Monday, US President Donald Trump announced a new trade deal with India that includes lowering mutual tariffs and greater market access. He added that India will stop buying Russian oil and increase imports of US goods.

India confirmed the tariff cuts and Prime Minister Narendra Modi praised the deal after his meeting with Trump. However, New Delhi did not make an official statement regarding the termination of Russian oil purchases.

The Importance of Russian Oil Imports for India

Russian oil is important to India, which imports most of its crude to fuel homes, factories and vehicles.

Before 2022, Russia supplied only 2% of India’s oil, but now, due to significant discounting by Moscow, it is around 35-40%, often 7-14% cheaper than Middle Eastern or US oil. The reductions come after the West imposed sanctions on Russia in 2022.

This keeps prices of petrol, diesel and cooking gas lower for daily use, saving India billions in oil bills.

These imports from Russia help control inflation by stabilizing fuel costs, which affects food and goods prices across the economy.

Despite US pressure and sanctions, India continues to buy because affordable energy boosts growth and energy security. Recent declines have not stopped major refiners from continuing to prioritize economics over politics due to strong India-Russia ties.

India-US Trade Agreement and Russian Oil Imports

US President Trump announced the US-India trade deal on February 2 after his meeting with Prime Minister Modi; This deal reduced tariffs from 25% to 18% and removed the penalty on Russian oil purchases, which India welcomed for better exports.

Trump claimed India agreed to stop imports from Russia, buy $500 billion worth of US goods and switch to US and Venezuelan oil, but New Delhi has only approved tariffs, no news on oil.

The Kremlin calls India-Russia relations “most important” and says it has not received any official signals of a halt, highlighting India’s balancing act between affordable energy and US trade gains.