US President Donald Trump claimed that Prime Minister Narendra Modi has assured him that India will reduce oil imports from Russia by the end of the year. This statement comes after American sanctions were imposed on two major Russian oil companies. The US states that purchasing oil from Russia supports the war in Ukraine, and economic pressure is being maintained on India.
Import of oil from Russia: During the Diwali celebrations at the White House, US President Donald Trump stated that India would reduce oil imports from Russia by the end of this year. He mentioned that Prime Minister Narendra Modi assured him that oil purchases from Russia would decrease by approximately 40 percent. This statement comes at a time when the US has imposed sanctions on two major Russian oil companies. Trump also hinted that the US might use tax policy and sanctions to maintain economic pressure on India, aiming to reduce its support for the Russia-Ukraine war.
What Trump told Modi
Donald Trump said, “Prime Minister Modi has assured me that they will reduce oil purchases from Russia. It is a gradual process. I spoke with Prime Minister Modi yesterday, and he was very cooperative.” He also stated that India would almost stop purchasing oil from Russia by the end of this year.
Trump said that this decision cannot be taken abruptly and will be implemented gradually. He claimed that this step could impact the ongoing war between Russia and Ukraine and also provide stability to the global energy market.
Trump's Stance on China-US Relations
Trump also shared his views on China-Russia relations. He stated that if a trade agreement is not reached between the US and China by November 1st, taxes of up to 155 percent could be imposed on China.
He said, “China’s relationship with Russia is a bit different. Previously, this relationship was not good, but due to past policies, they have grown closer. I don't think they can remain friends. I want them to be good, but that's not possible.”
Discussion on the Russia-Ukraine War
Trump stated that he would discuss ending the ongoing war between Russia and Ukraine. He mentioned that he had also spoken with PM Modi on this issue. He said, “I am discussing with PM Modi how to end the Russia-Ukraine war, whether it's through oil or energy. I believe PM Modi will show a positive stance on this.”
Modi-Trump Talks on Diwali
During the Diwali celebrations held at the White House, Trump stated that he had discussed trade and energy issues with Prime Minister Modi. He said, “We talked about many subjects, but mostly about trade.”
Trump claimed that during this time, Modi assured him that India would reduce its oil purchases from Russia. He said, “India will not buy much oil now, and they also want the Russia-Ukraine war to end soon.”
US Pressure on Russian Oil
Russian oil has long been a point of contention between the US and India. The US maintains that purchasing oil from Russia aids the war in Ukraine. According to US data, almost half of the 50 percent tax imposed on India is due to its continued purchase of oil from Russia.
Meanwhile, Indian state-owned oil companies are reviewing their agreements with Russian suppliers to ensure they are not purchasing oil from sanctioned entities like Rosneft and Lukoil. According to a Reuters report, companies are now scrutinizing their trade and shipping documents.
Impact of New US Sanctions
The Trump administration had previously imposed significant sanctions on Russia during its second term. The objective of these sanctions is to increase pressure on Moscow and bring an end to the war in Ukraine. Sanctions imposed on major oil companies such as Lukoil and Rosneft are part of this effort.
According to experts, this move could create instability in the global oil market and increase US pressure on large importing countries like India.
