Heard nothing from India on stopping oil purchase: Kremlin
What's the story
The Kremlin has said it has not received any official communication from India about stopping its oil purchases from Russia. This comes after United States President Donald Trump announced a trade deal with India, under which tariffs on Indian exports to the US would be slashed from 50% to 18%. The deal also reportedly includes an agreement for India to stop buying Russian oil and buy more American goods.
Partnership emphasis
We respect bilateral US-India relations: Kremlin
While India has confirmed the tariff reduction, it has not confirmed the cessation of Russian oil purchases. Reuters, quoting Kremlin spokesperson Dmitry Peskov, said Russia has not received any official statements from Delhi on halting oil purchases. He stressed the importance of the strategic partnership between Russia and India, saying, "We respect bilateral US-Indian relations. But we attach no less importance to the development of an advanced strategic partnership between Russia and India."
Remarks analysis
Russia is analyzing Trump's remarks on India relations
Peskov said Russia is carefully analyzing Trump's remarks on relations with India. Russian Deputy Prime Minister Alexander Novak also spoke about the situation, saying Moscow had only seen public statements regarding the issue. "We'll see how the situation develops," he told reporters. He added that overall there was a good demand for Russian energy despite the ongoing discussions.
Crude purchases
India has emerged as largest buyer of discounted Russian crude
India has emerged as the largest buyer of discounted Russian seaborne crude since Russia's war in Ukraine began in 2022. The move drew criticism from Western countries, which have imposed sanctions on Russia's energy sector to limit its revenue. On Monday, President Trump announced a trade deal with India, whereby the US will charge a reduced reciprocal tariff, lowering it from 25 percent to 18 percent.
Economic impact
Condition for tariff reduction
In return, India will "move forward to reduce their Tariffs and Non Tariff Barriers against the United States to ZERO," Trump's post read. A White House official also confirmed to ANI that Washington would lift the additional 25% tariff on Indian imports linked to India's Russian oil purchases. The same official, however, clarified that India must "cease, not just reduce, Russian oil purchases" as part of the trade deal.