After US President Donald Trump announced that there will be tariff reduction from 50% to 18% and that the India will not purchase oil from Russia, Russia’s Foreign Ministry has commented on recent developments between India and the US. Russia has said that it sees no change in the India’s stance on buying Russian oil. The ministry said that, India’s purchase of Russian oil is beneficial to both the countries and contributes to maintaining stability in the international energy market.
Karoline Leavitt, White House Press Secretary told reporters outside the White House that New Delhi had committed to ending Russian oil imports and boosting purchases from the US. In a post on social media on Monday, Trump announced that India will stop buying oil from Russia and instead will purchase the same from US and Venezuela, though no comments have been made by the Indian officials as of now. He agreed to stop buying Russian oil, and to buy much more from the United States and, potentially, Venezuela… lowering it from 25% to 18%,” Trump said. India’s Russian oil imports slipped in January. Indian refiners have not been told yet to stop buying Russian oil and would need a wind-down period to complete purchases already in process.
