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.


Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure
Australia and Japan Strengthen Defence Cooperation Amid Rising Regional Tensions
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens
China’s Expanding Maritime Military Presence Alarms Taiwan and Japan
U.S. Justice Department Orders Intensified Probe Into Antifa and Domestic Extremist Groups
Cuba Reaffirms Anti-Drug Cooperation as Tensions Rise in the Caribbean
Trump Administration Tightens H-1B Visa Vetting With New Focus on Free Speech and Censorship
Israel Receives Body of Deceased Hostage as Rafah Crossing Reopening Hinges on Final Returns
Honduras Election Turmoil Deepens as Nasralla Alleges Fraud in Tight Presidential Race
IMF Deputy Dan Katz Visits China as Key Economic Review Nears
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures
New Orleans Immigration Crackdown Sparks Fear as Federal Arrests Intensify
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 



