President Donald Trump has welcomed reports suggesting that India might halt its crude oil purchases from Russia. He described this potential move as a positive step, while acknowledging that he isn't certain how accurate this news might be.
According to news agency ANI, when asked if he plans to impose fines on India or speak with Prime Minister Narendra Modi, Trump responded that he has heard India will stop purchasing oil from Russia. He mentioned that he has heard this, but he doesn't know if it's true. If it is, he considers it a good move. Let's see what happens next.
Trump's comments come at a time when the United States, amid the Russia-Ukraine war, is exerting global pressure to limit revenue from Russia's oil sales.
It's important to note that India is the world's third-largest oil importer and has been purchasing oil at discounted rates from Russia since 2022, following Western sanctions. Recent media reports, however, suggest that Indian state oil companies have temporarily stopped buying from Russia due to reduced discounts and shipping issues. The Indian government has not yet officially confirmed this.
Last week, Trump criticized India for trade barriers and continued oil and arms purchases from Russia. In a post on Truth Social, he accused India of unfair trade practices and imposing excessive tariffs. Meanwhile, the White House announced a 25% tariff on all goods coming from India to the US and penalties concerning the ongoing energy trade with Russia.
In response to these developments, Ministry of External Affairs spokesperson Randhir Jaiswal reaffirmed the long-standing and tested stability of India-Russia relations. He reiterated that India-US relations are founded on shared interests, democratic values, and people-to-people ties, expressing confidence in the growth of both nations' relationships despite current tensions.
