U.S. President Donald Trump said Wednesday that Indian Prime Minister Narendra Modi told him New Delhi will stop buying oil from Russia, though the move will take time.
He added that Washington was unhappy with New Delhi’s purchases of Russian crude because it allowed Moscow to continue waging its “ridiculous war” in Ukraine.
However, the U.S. president also said that the halt will not be immediate, and there will be “a little bit of a process,” without giving a clear timeline.
India’s external affairs ministry said Friday that the country’s oil import decisions are driven by efforts to protect consumers by ensuring stable energy prices and securing supplies.
The ministry’s priority was to “safeguard the interests of the Indian consumer in a volatile energy scenario,” External Affairs Ministry spokesperson Randhir Jaiswal said in a statement.
He added that India’s import policies are guided “entirely” by that goal.
Jaiswal said that India has sought for years to expand energy trade with the U.S. “This has steadily progressed in the last decade,” he said, adding that “the current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing.”
India’s imports of Russian oil have been a sticking point in the relationship between Washington and New Delhi. Trump slapped additional tariffs of 25% on India back in August, raising the total levy to 50%, while India has called out the U.S. for its trade with Russia.
“If India doesn’t buy [Russian] oil, it makes [ending the war] much easier,” Trump said. “They assured me within a short period of time, they will not be buying oil from Russia, and they will go back to Russia after the war is over.”
On Thursday, Brent crude futures climbed 0.82% to $62.43 a barrel by 10:31 p.m. ET, while U.S. West Texas Intermediate futures climbed 0.89% to $58.79.
