US President Donald Trump on Sunday asserted that India has cut its oil imports from Russia in recent months in an effort to make him happy. Talking to reporters onboard a Air Force One, Trump called PM Narendra Modi a ‘good man’ and added that the Indian PM was aware that the US President was not happy with the Russian oil deal and thus, New Delhi reduced its imports from Moscow.
Trump also linked India’s oil deal with Russia could further cause trade consequences, warning, “We could raise tariffs on India if they don’t help on Russian Oil issue.” Trump also cautioned that tariffs could be escalated rapidly if countries abandon their current positions, emphasizing that trade tools remain under strong US control, “They do trade, and we can raise tariffs on that very quickly.”
Trump said India revised its approach after recognizing Washington’s dissatisfaction with New Delhi’s ongoing imports of Russian energy. Referring to Prime Minister Narendra Modi, Trump remarked that India understood his concerns and sought to address them.
Senator Graham says, ‘American Pressure led India to Cut off Russian oil purchase’
US Senator Lindsey Graham, who was with Trump, claimed that American tariff pressure has already led India to sharply cut back on Russian oil purchases. He argued that this reduction is undermining Russia’s capacity to finance its war in Ukraine and highlights the impact of tariffs as a diplomatic and economic instrument.
Addressing the media, Graham pointed out that the 25 per cent tariff imposed by the US on India over its purchase of Russian crude, stating that the policy had delivered tangible outcomes.
Graham added that proposed legislation would grant the President broad powers to levy tariffs on nations that continue to import Russian energy at discounted rates.
“If you’re buying cheap Russian oil keeping Putin’s war machine going, we’re trying to give the President the ability to make that a hard choice,” Graham said.
Graham said the bill, backed by 85 co-sponsors, would allow tariffs ranging from zero to 500 per cent, entirely at the President’s discretion. He said the approach has already shown results.
“I was at the Indian ambassador’s house about a month ago, and all he wanted to talk about is how they’re buying less Russian oil,” Graham claimed.
How much Russian oil does India buy?
Much more than it did before the Russian president, Vladimir V. Putin, launched a full-scale invasion of Ukraine in February 2022.
Shortly before the start of the war, crude oil from Russia accounted for 0.2 percent of how much India imports. By May 2023, Russia was selling India more than two million barrels of crude a day, or roughly 45 percent of its imports.
India has bought a nearly constant flow of Russian oil for the past two years. Prices fluctuated, with total sales worth more than $130 billion per year. Iraq and Saudi Arabia, traditionally India’s biggest suppliers, have been pushed to the side.
In June 2023, an analysis of shipping data by The New York Times found that dozens of Russian tankers were arriving every month to Indian oil refineries.
