Shopping cart
Your cart empty!
India to Cut Russian Oil Imports, Trump Confirms PM Modi Assurance
US President Donald Trump has claimed that India will sharply reduce its imports of Russian oil by the end of 2025, citing assurances from Prime Minister Narendra Modi.
Current Reliance on Russian Crude
-
Nearly 40% of India’s crude imports come from Russia.
-
The reduction will be gradual to maintain global market stability but aims to reach “almost nothing” by year-end, according to Trump.
US Strategy and Pressure
-
The United States has imposed 50% tariffs on certain Indian goods to encourage diversification away from Russian crude.
-
Trump emphasized that continued imports from Russia could result in further tariffs, reinforcing US pressure on India.
-
The US Treasury has also sanctioned Russian oil giants Rosneft and Lukoil to cut Kremlin revenues amid the Ukraine war.
India’s Energy Position
-
India maintains that its energy policy prioritizes stable prices and secure supply for its growing population.
-
The phase-out plan will be structured gradually, aligning with India’s domestic energy and market stability concerns.
Diplomatic Context
-
Recent communications between PM Modi and Trump reflect a warmer tone in bilateral relations, focusing on trade and cooperation.
-
Trump’s statement signals a shift from earlier criticism of India’s energy ties with Russia.
Implications
-
A successful phase-out could reduce India’s energy reliance on Russia, potentially easing tensions with the US.
-
Indian exporters could avoid punitive tariffs, while global oil markets adjust to the changing import dynamics.
3
Published: 3h ago
All India Story
All India Story is your trusted source for comprehensive and up-to-the-minute news coverage across India. Bringing you the latest on politics, business, technology, entertainment, sports, and more, we are dedicated to keeping you informed with accurate, engaging, and insightful stories from every corner of the nation.
