NEW DELHI: The Kremlin on Tuesday said it has received no communication from New Delhi on halting purchases of Russian oil, responding to US President Donald Trump’s claim that India would stop buying crude from Moscow following the announcement of a new India–US trade deal.
Trump on Monday announced the trade agreement, announcing lower reciprocal tariffs and expanded market access for American goods, while asserting that India would cease imports of Russian oil and significantly increase purchases from the United States.
India has confirmed the tariff-reduction component of the deal, with Prime Minister Narendra Modi welcoming the move after a phone conversation with Trump. However, New Delhi has not commented on any decision to stop buying Russian oil.
“So far, we haven’t heard any statements from New Delhi on this matter,” Kremlin spokesperson Dmitry Peskov told reporters. Peskov said Russia attaches high importance to its ties with India and intends to continue strengthening the bilateral partnership.
“We respect bilateral US-Indian relations. But we attach no less importance to the development of an advanced strategic partnership between Russia and India. This is the most important thing for us, and we intend to further develop our bilateral relations with Delhi,” he said.
Russian Deputy Prime Minister Alexander Novak echoed the cautious tone, saying Moscow had only seen public statements so far. “We’ll see how the situation develops,” Novak said and added that demand for Russian energy remained strong.
White House officials on Monday also said that the additional 25% punitive tariff imposed on India over its Russian oil purchases would be withdrawn, bringing the final reciprocal tariff rate to 18%. The US embassy spokesperson in Delhi said that the final tariff will be 18 per cent.
Abrupt halt may harm India
While India has confirmed the 18% tariff, it has made no statement on ending Russian oil purchases — a long-standing point of friction between Washington and New Delhi. Ratings agency Moody’s warned that an abrupt halt to Russian oil imports could hurt India’s economy.