U.S. President Donald Trump reaffirmed on Sunday that Indian Prime Minister Narendra Modi assured him India would halt its purchases of Russian oil. Speaking aboard Air Force One, Trump warned that India could continue facing “massive” tariffs if it fails to follow through. “I spoke with Prime Minister Modi of India, and he said he’s not going to be doing the Russian oil thing,” Trump told reporters.
When asked about India’s claim that no such conversation took place, Trump responded, “If they want to say that, then they’ll just continue to pay massive tariffs, and they don’t want to do that.” The issue of Russian oil imports remains a key sticking point in ongoing U.S.-India trade negotiations. Half of Trump’s 50% tariffs on Indian goods are said to be in retaliation for India’s continued oil purchases from Russia, which Washington argues help fund Moscow’s war in Ukraine.
India, now the largest buyer of discounted Russian seaborne oil, began ramping up imports after Western nations imposed sanctions following Russia’s 2022 invasion of Ukraine. Trump claimed that Modi personally confirmed India would stop buying Russian oil, but India’s foreign ministry stated it was unaware of any such conversation and reiterated that New Delhi’s main concern is to “safeguard the interests of the Indian consumer.”
A White House official later said India had reduced its Russian oil imports by half, though Indian sources disputed seeing any immediate decline. Market data from commodities firm Kpler suggests that India’s Russian oil imports are expected to rise by about 20% this month to 1.9 million barrels per day as Russia boosts exports following Ukrainian drone attacks on its refineries. Analysts believe any visible cut in India’s imports may appear only in December or January trade data.


Federal Reserve Balance Sheet Reduction: Brookings Research Outlines Possible Path Forward
Trump Votes by Mail Despite Calling It "Cheating" as Democrat Wins Mar-a-Lago District
Russia Strikes Kharkiv and Izmail as Cross-Border Drone War Escalates
Currency Markets Show Caution Amid U.S.-Iran Negotiations
Trump Backs Down on Iran Strikes After Gulf Allies Sound the Alarm
FEMA Reinstates $1 Billion Disaster Prevention Grant Program After Court Order
Trump Seeks Quick End to U.S.-Iran Conflict Amid Ongoing Middle East Tensions
Cuba Receives Humanitarian Aid Convoy Amid U.S. Sanctions
Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle Markets
Russia-Iran Military Alliance Deepens With Drone Shipments Amid Middle East Tensions
Asian Stocks Gain Amid Iran Conflict Uncertainty
Iran Demands Lebanon Be Part of Any Ceasefire Deal With Israel and the U.S.
U.S. Oil Prices Slide as Middle East Ceasefire Talks Spark Market Optimism
Bank of Japan Eyes April Rate Hike Despite Inflation Dip, ING Says
U.S. Dollar Weakens as Trump Signals Iran Deal Possibility
Trump Tariffs Show Minimal Economic Impact but Boost Federal Revenue, Study Finds
U.S. Deploys Elite 82nd Airborne Troops to Middle East Amid Iran Tensions 



