US EditionTrump claims India will stop buying Russian oil, escalating pressure on Moscow over Ukraine war
Trump said Modi assured him India will gradually end Russian oil purchases, which currently make up about one-third of its imports, amid US sanctions and trade tensions.
- On Wednesday, President Donald Trump said Prime Minister Narendra Modi assured him India would stop buying Russian oil, remarks Trump made to reporters at the White House.
- The U.S. has imposed steep tariffs, including a 50 in U.S. levies, to pressure India over its Russian crude purchases, aiming to cut Moscow's energy revenue.
- Data from Kpler show that India's Russian crude imports in September were 7.36 million barrels per day, with Moscow exporting 1.62 million bpd, and Brent futures rose 1.1% to $62.61.
- However, Indian officials on Thursday appeared to contradict Trump's claim as New Delhi has not confirmed halting Russian oil imports, with India's Ministry of External Affairs stressing consumer protection and Indian refiners reporting no formal instructions to stop.
- A meeting is being considered at the Association of Southeast Asian Nations summit in Malaysia this month as Washington sanctions Rosneft and Lukoil and Trump says he will press China to follow.
277 Articles
277 Articles
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When President Donald Trump hit Rosneft and Lukoil, Russia’s two largest oil companies, with sweeping sanctions on October 22, the message to Moscow was unmistakable: Washington was turning up the heat. But the shockwaves reached far beyond Russia — landing squarely in New Delhi, one of Russia’s biggest oil customers and a key US partner […] The post India can’t keep balancing between US and Russia appeared first on Asia Times.
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