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"US President Trump’s statement: India will reduce its oil purchases from Russia."

By Gireesh Vasishta
"US President Trump’s statement: India will reduce its oil purchases from Russia."

This statement marks a slight shift in tone from previous claims by the President, who had earlier insisted that India would completely halt Russian oil purchases. The new language suggests a tapering or gradual reduction rather than an immediate cessation of transactions.

US President Donald Trump has publicly claimed that India's purchase of Russian oil will be significantly reduced, stating that he received assurances to this effect from Prime Minister Narendra Modi.

Speaking at a White House event, the President said:

"I spoke to Prime Minister Modi today and we just have a very good relationship. He's not going to buy much oil from Russia. He wants to see that war (between Russia and Ukraine) end as much as I do. They're not going to be buying too much oil. So they've cut it way back, and they're continuing to cut it way back."

This statement marks a slight shift in tone from previous claims by the President, who had earlier insisted that India would completely halt Russian oil purchases. The new language suggests a tapering or gradual reduction rather than an immediate cessation of transactions.BULLMER Striped Textured Printed Polo Neck Fullsleeve T-Shirt with Rib for Men


Key Context: India's Official Stance: India's Ministry of External Affairs (MEA) has not confirmed any such assurance regarding the reduction of Russian oil purchases. New Delhi has consistently maintained that its energy policy is guided solely by the imperative to safeguard the interests of the Indian consumer in a volatile energy market and to diversify its sources.

Trade Pressure: The US has recently imposed significant tariffs on Indian goods, which analysts believe is an attempt to pressure New Delhi to reduce its reliance on Russian crude. Some reports suggest that a reduction in Russian oil purchases could be linked to ongoing bilateral trade negotiations and a potential lowering of US tariffs.Also Read: Google's quantum chip computed a 150-year problem in 2 hours—and proved it

Market Reality: Despite the US pressure, oil trade data does not yet indicate a significant tapering of Russian oil imports, which have provided India with much-needed discounted crude. Russia remains India's largest oil supplier, accounting for roughly one-third of the country's total imports.

PM Modi's Response: PM Modi acknowledged the call with President Trump via social media, thanking him for his Diwali greetings, but did not comment on the issue of Russian oil purchases.