India and China are the two top buyers of Russian seaborne crude exports, taking advantage of the discounted prices Russia has been forced to accept after European buyers shunned purchases and the U.S. and the European Union imposed sanctions on Moscow for its invasion of Ukraine in February 2022.
“So I was not happy that India was buying oil, and he (Modi)assured me today that they will not be buying oil from Russia,“ Trump told reporters during a White House event.
The Indian embassy in Washington did not immediately respond to emailed questions about whether Modi had made such a commitment to Trump.
“Minister Kato and I also discussed important issues pertaining to the U.S.-Japan economic relationship and the Administration’s expectation that Japan stop importing Russian energy,“ Bessent said on X.
Russia is India’s top oil supplier. Moscow exported 1.62 million barrels per day to India in September, roughly one third of the country’s oil imports. For months, Modi resisted U.S. pressure, with Indian officials defending the purchases as vital to national energy security.
A move by India to stop imports would signal a major shift by one of Moscow’s top energy customers and could reshape the calculus for other nations still importing Russian crude. Trump wants to leverage bilateral relationships to enforce economic isolation on Russia, rather than relying solely on multilateral sanctions.
During his comments to reporters, Trump added that India could not “immediately” halt shipments, calling it “a little bit of a process, but that process will be over soon.”
Trump imposed a 25% tariff on India this summer after the two countries failed to reach an initial trade agreement. He followed up with an additional 25% because of the country’s purchases of Russian oil.
India chafed at the move because no other top purchasers of Russian oil, like China or Turkey, were hit with similar tariffs. - Reuters
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