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- PM Modi says he’s “not going to do the Russian oil thing”: Trump.
- Russian oil remains a key issue in Trump’s trade talks with India.
- India’s Russian oil imports are expected to increase approximately 20% this month.
ON AIR FORCE ONE: President Donald Trump confirmed on Sunday that Indian Prime Minister Narendra Modi assured him India would halt Russian oil purchases, warning that Delhi could face continued “massive” tariffs if they didn’t comply.
“I spoke with Prime Minister Modi of India, and he said he isn’t going to be doing the Russian oil thing,” Trump told journalists aboard Air Force One.
When asked about India’s claim of being unaware of any conversation between Modi and Trump, the president responded: “If they want to deny it, then they’ll just keep paying hefty tariffs, which they clearly don’t want to do.”
Russian oil has been a major sticking point in Trump’s trade negotiations with India — half of his 50% tariffs on Indian goods are retaliatory measures related to those oil imports. The U.S. government states that revenue from petroleum sales is funding Russia’s military activities in Ukraine.
India has become the largest customer of discounted Russian crude shipped via sea, as Western nations have shunned Russian oil and imposed sanctions following Moscow’s invasion of Ukraine in 2022.
Trump mentioned on Wednesday that Modi had assured him earlier that day India would cease Russian oil imports. India’s foreign ministry stated it wasn’t aware of any such phone call that day, emphasizing that its primary focus remains protecting Indian consumers’ interests.
A White House spokesperson noted on Thursday that India has cut its Russian oil purchases by half, but sources within India indicate that no such reduction has yet been observed.
The sources added that Indian refiners already placed orders for November shipment, with some scheduled for December arrival. Therefore, any actual decrease might only show up in December or January’s import data.
According to data from commodities analysis firm Kpler, India’s Russian oil imports are projected to rise roughly 20% this month, reaching 1.9 million barrels per day, as Russia increases exports following damage to its refineries caused by Ukrainian drones.
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