US EditionFactbox: Russia-India Oil Ties as Us Trade Deal Targets Crude Imports
Tariffs on Indian goods are cut from 50% to 18% immediately, with India agreeing to buy $500 billion of US products and halt Russian oil imports, Trump said.
- On Monday, February 2, President Trump announced a US-India trade deal via Truth Social, without revealing full terms.
- After a year of fruitless talks, threats and sanctions, the United States targeted India's protectionist policies and oil purchases in 2025 before the trade deal.
- Trump said New Delhi committed to 'reduce their tariffs and non-tariff barriers against the United States to zero' and to buy $500 billion in energy, agricultural and coal products, with tariffs on Indian products dropping from 50% to 18% immediately.
- Posting on X, Modi said he thanked Trump and praised the 'amazing relationship with India' for the trade deal.
- With terms unpublished, Trump did not publish full terms, leaving specifics unverified, and Modi's silence creates uncertainty over barrier cuts and $500 billion purchases affecting energy markets.
37 Articles
37 Articles
'We are convinced…': Russia stands firm with India on energy ties as US seeks curbs in trade deal
The Russian Foreign Ministry on Wednesday said India purchasing oil from Moscow is a “mutually beneficial” move, which would help maintain stability in the international energy market. Russia also vowed to cooperate with India to ensure the understanding prevails between the two nations in this regard. This came days after US President Donald Trump announced a trade deal with India, asserting that New Delhi has agreed to stop procuring oil from …
Oil prices are rising, driven by supply concerns over Russia's continued aggression in Ukraine and hopes that a deal between the US and India to cut tariffs could boost global oil demand. Prices were also supported by reports of armed ships near the Strait of Hormuz, although the possibility of a de-escalation between the US and Iran limited those gains.
India Made Long Push With Trump Behind Scenes to Clinch US Deal
(Bloomberg) — In early September, shortly after Indian Prime Minister Narendra Modi held a chummy meeting with Vladimir Putin and Xi Jinping in China, he dispatched his national security adviser to Washington to help smooth over fraying ties.
Modi under fire over US deal as Russia denies oil plan change
KARACHI: The Indian National Congress on Tuesday criticised the Narendra Modi government for the trade deal struck with the United States, calling on the BJP government to take the nation into confidence about details of the deal. United States President Donald Trump announced a “trade deal” with India on Monday after speaking to Prime Minister Narendra Modi, saying New Delhi agreed to stop buying Russian oil and may purchase it instead from Ven…
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