google.com, pub-8701563775261122, DIRECT, f08c47fec0942fa0
UK

Trump says Modi has agreed to stop buying Russian oil

Danielle Kayebusiness reporter

Watch: Trump says Modi gave him ‘assurances’ that India will no longer buy Russian oil

President Donald Trump says Indian Prime Minister Narendra Modi has agreed to stop buying Russian oil as the United States tries to put economic pressure on the Kremlin as part of efforts to end the war in Ukraine.

Trump told reporters he had received assurances from Modi that India would halt its purchases “shortly,” calling it a “big stop.”

A spokesman for the Indian embassy in Washington DC had no comment. The US president tried to take advantage of India’s purchases of Russian oil in the trade war, but Delhi resisted, creating a diplomatic rift.

Oil and gas are Russia’s biggest exports, and Moscow’s biggest customers include China, India and Türkiye.

“Now I have to get China to do the same thing,” Trump said in the Oval Office on Wednesday, part of his administration’s broader effort to cut off Moscow’s energy financing.

The Trump administration is also pushing Japan to halt oil and gas imports from Russia, and U.S. Treasury Secretary Scott Bessent said he conveyed that “expectation” to visiting Japanese Finance Minister Katsunobu Kato on Wednesday.

Trump said India could not stop oil shipments “immediately” and added that the transition “will be a bit of a long process, but it will be over soon.”

The Trump administration imposed a 50 percent tariff on goods from India; These duties are what Trump has described as a punishment against Delhi for its purchase of Russian oil and weapons.

The tariffs, which took effect in August and are among the highest in the world, include a 25 percent penalty on transactions with Russia, a major source of funds for the war in Ukraine.

Modi has defended his opinion for months, arguing that India is neutral in the Russia-Ukraine war despite his country’s ties with Russian leader Vladimir Putin.

Reuters Two men sit in front of a reflective table with American and Indian flags in the background.Reuters

Trump and Modi appear to be at loggerheads over trade, seen in February

Indian officials have called the Trump administration’s accusations that Delhi is profiting from Russia’s war in Ukraine a double standard, citing ongoing trade with Russia in the United States and Europe.

India relies on Russian crude, which Delhi continues to buy at a discount, to support the world’s fifth-largest economy.

The dispute over Russian oil has strained the relationship between Trump and Modi, although the US president praised the Indian leader on Wednesday as a “great man”.

Modi said he spoke with Trump last week and “reviewed the good progress made in trade negotiations.”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button