'We are convinced…': Russia stands firm with India on energy ties as US seeks curbs in trade deal
Trump on Monday declared a trade deal with India and reduced tariffs on New Delhi to 18 per cent after holding a telephonic conversation with PM Modi. He also said PM Modi has agreed to stop buying oil from Russia.
The Russian Foreign Ministry on Wednesday said India purchasing oil from Moscow is a “mutually beneficial” move, which would help maintain stability in the international energy market. Russia also vowed to cooperate with India to ensure the understanding prevails between the two nations in this regard.
This came days after US President Donald Trump announced a trade deal with India, asserting that New Delhi has agreed to stop procuring oil from Russia and would instead fulfill its energy needs from Venezuela.
“We are convinced that India’s purchase of Russian hydrocarbons is mutually beneficial & contributes to maintaining stability in the global energy market. We stand ready to continue close cooperation in this area with our Indian partners,” Russia’s Foreign Ministry posted on X.
Trump announces trade deal, slashes tariffs
Trump on Monday declared a trade deal with India and reduced tariffs on New Delhi to 18 per cent after holding a telephonic conversation with PM Modi. He also said PM Modi has agreed to stop buying oil from Russia. Besides, Trump said that India will start buying more oil from the US and also from Venezuela.
"It was an honour to speak with Prime Minister Modi... We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela," he said on Truth Social.
Later, White House Press Secretary Karoline Leavitt repeated Trump’s claim that India has agreed to stop purchasing Russian oil.
PM Modi thanked his US counterpart for reducing tariffs on India. He hailed Trump’s leadership, calling it crucial for global peace and stability.
"Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement," PM Modi posted on X.
However, the government hasn’t yet issued an official statement on whether or not New Delhi was stopping procurement of oil from Russia.