Trump Says Modi Assured Him India Will Not Buy Russian Oil
US President Donald Trump claims Indian Prime Minister Narendra Modi has pledged to halt oil purchases from Russia, intensifying efforts to cut off Moscow's energy revenues.
Washington: US President Donald Trump stated on Wednesday that Indian Prime Minister Narendra Modi has committed to ceasing India's acquisition of oil from Russia.
Trump expressed his intention to subsequently persuade China to adopt a similar stance as part of the ongoing efforts to reduce Moscow's revenue from energy exports.
The two countries, India and China, are the leading consumers of Russian seaborne crude oil, having benefited from discounted prices due to sanctions imposed by both the US and the European Union following Russia's invasion of Ukraine in February 2022.
Trump has recently targeted India regarding its purchase of Russian oil, implementing tariffs on Indian exports to the US as a means to discourage such transactions.
He aims to disrupt Russia's oil revenue streams and compel Moscow to negotiate a peace deal in Ukraine.
Trump disclosed during a White House press briefing that he was not pleased with India procuring oil from Russia and received assurance from Modi that this practice would cease.
He emphasized that this move is significant and that the next step will be to persuade China to follow suit.
The Indian embassy in Washington did not immediately respond to questions regarding whether such a commitment had been made to Trump.
As of now, Russia is India's primary oil supplier, exporting 1.62 million barrels per day to India in September, accounting for roughly one-third of India's total oil imports.
Despite the pressure from the US, Modi had previously defended these purchases as essential for maintaining India's energy security.
While importing oil from alternative sources would likely increase costs for India, lower global oil prices could mitigate this impact.
Concerns about an increasing oil surplus led to a five-month low in benchmark Brent crude futures on Wednesday.
A shift by India to halt Russian oil imports would represent a major change for one of Moscow's top energy customers and potentially redefine the dynamics for other nations still purchasing Russian crude.
Trump is pursuing a strategy that leverages bilateral relationships to enforce economic isolation against Russia, rather than relying solely on multilateral sanctions.
This announcement follows closely after Trump's new pick for Indian ambassador, Sergio Gor, met with Modi.
Discussions between the two covered defense, trade, and technology issues.
The appointment of Gor, a close associate of Trump, was generally seen as a positive development for the US-India bilateral relationship.
During his remarks, Trump acknowledged that India could not immediately discontinue oil shipments, describing it as 'a little bit of a process, but that process will be over soon.'
Although he has focused on pressuring India, Trump has been less direct in addressing similar issues with China.
The ongoing US trade war with China complicates diplomatic efforts, leading Trump to exercise caution in demanding an end to Chinese energy imports from Russia.
In response to the failed initial trade agreement between the two countries, Trump imposed a 25 percent tariff on India this summer.
Following this, he added another 25 percent tariff due to India's purchases of Russian oil.
India has expressed discontentment with these measures as no other major purchasers of Russian oil, such as China or Turkiye, have faced similar tariffs.
Trump expressed his intention to subsequently persuade China to adopt a similar stance as part of the ongoing efforts to reduce Moscow's revenue from energy exports.
The two countries, India and China, are the leading consumers of Russian seaborne crude oil, having benefited from discounted prices due to sanctions imposed by both the US and the European Union following Russia's invasion of Ukraine in February 2022.
Trump has recently targeted India regarding its purchase of Russian oil, implementing tariffs on Indian exports to the US as a means to discourage such transactions.
He aims to disrupt Russia's oil revenue streams and compel Moscow to negotiate a peace deal in Ukraine.
Trump disclosed during a White House press briefing that he was not pleased with India procuring oil from Russia and received assurance from Modi that this practice would cease.
He emphasized that this move is significant and that the next step will be to persuade China to follow suit.
The Indian embassy in Washington did not immediately respond to questions regarding whether such a commitment had been made to Trump.
As of now, Russia is India's primary oil supplier, exporting 1.62 million barrels per day to India in September, accounting for roughly one-third of India's total oil imports.
Despite the pressure from the US, Modi had previously defended these purchases as essential for maintaining India's energy security.
While importing oil from alternative sources would likely increase costs for India, lower global oil prices could mitigate this impact.
Concerns about an increasing oil surplus led to a five-month low in benchmark Brent crude futures on Wednesday.
A shift by India to halt Russian oil imports would represent a major change for one of Moscow's top energy customers and potentially redefine the dynamics for other nations still purchasing Russian crude.
Trump is pursuing a strategy that leverages bilateral relationships to enforce economic isolation against Russia, rather than relying solely on multilateral sanctions.
This announcement follows closely after Trump's new pick for Indian ambassador, Sergio Gor, met with Modi.
Discussions between the two covered defense, trade, and technology issues.
The appointment of Gor, a close associate of Trump, was generally seen as a positive development for the US-India bilateral relationship.
During his remarks, Trump acknowledged that India could not immediately discontinue oil shipments, describing it as 'a little bit of a process, but that process will be over soon.'
Although he has focused on pressuring India, Trump has been less direct in addressing similar issues with China.
The ongoing US trade war with China complicates diplomatic efforts, leading Trump to exercise caution in demanding an end to Chinese energy imports from Russia.
In response to the failed initial trade agreement between the two countries, Trump imposed a 25 percent tariff on India this summer.
Following this, he added another 25 percent tariff due to India's purchases of Russian oil.
India has expressed discontentment with these measures as no other major purchasers of Russian oil, such as China or Turkiye, have faced similar tariffs.
