US President Donald Trump has said that India has ceased purchasing crude oil from Russia following imposition of steep tariffs on New Delhi. However, Indian officials have not confirmed the suspension of imports, even as tensions over energy trade and economic pressure mount.
Speaking to Fox News before heading to Alaska for a meeting with Russian President Vladimir Putin, Trump said Moscow had lost one of its major oil buyers.
“Putin just lost India, so to speak, which was buying about 40 per cent of its oil. China’s still buying a lot. And I could hit them with what’s called secondary sanctions — if I have to. Maybe I won’t,” Trump said.
The comments come in the wake of Trump’s latest trade offensive against India, where he hiked tariffs on Indian exports — first adding a 25 per cent duty and later doubling it to 50 per cent — in response to India’s continued energy ties with Russia. The increased tariffs are set to take effect on August 27 and are expected to impact key Indian export sectors, including textiles, leather goods, and seafood.
India has pushed back strongly against the move. The Ministry of Commerce criticized the tariff hike as “unfair, unjustified, and unreasonable,” warning it could significantly harm Indian exporters.
Indian Oil Corporation Chairman AS Sahney stated on Thursday that purchases from Russia are ongoing and guided by cost-efficiency. “We continue to source oil based on commercial considerations. There’s been no official halt,” he said.
Bloomberg, citing unnamed sources, reported that some state-run refiners have paused Russian oil imports in response to the escalating trade conflict. However, no formal announcement has been made by the Indian government. India emerged as the largest buyer of Russian crude in 2022, after European nations imposed sanctions on Moscow following its invasion of Ukraine. With discounts making Russian oil more attractive, Indian refiners ramped up imports significantly, despite pressure from the West.
