Former President Donald Trump has told reporters that Indian Prime Minister Narendra Modi has agreed to stop buying Russian oil. This announcement is part of the United States' efforts to exert economic pressure on Russia amidst its conflict in Ukraine.
Trump stated that Modi assured him of halting purchases within a short period of time, which he characterized as a noteworthy move. Despite this assertion, the spokesperson for the Indian embassy in Washington D.C. has not commented on Trump's claims, indicating a complex and ongoing diplomatic situation.
The necessity to reduce oil exports from Russia stems from the fact that oil and gas constitute the largest segment of Russia's economy, with countries like China, India, and Turkey among its top customers. Trump's comments reflect a broader strategy focusing on diminishing Moscow's financial resources used to fund its military activities in Ukraine.
On Wednesday, Trump remarked, Now I've got to get China to do the same thing, indicating continued efforts to rally international allies against Russian energy purchases. This approach includes urging Japan to cease its oil imports from Russia, with US Treasury Secretary Scott Bessent communicating expectations directly to Japanese officials.
While Trump acknowledged that India could not immediately stop oil shipments, he expressed optimism that the transition would happen soon. Under Trump's administration, 50% tariffs have been imposed on Indian goods, which he labeled as a punitive measure against India's dealings with Russia.
Despite mounting pressure, Modi has consistently maintained that India remains neutral concerning the Russia-Ukraine war, highlighting its economic ties with Russia – particularly concerning discounted crude oil purchases that are crucial for supporting India’s economy.
This point of contention has caused friction between the two leaders, although Trump referred to Modi as a great man during his recent remarks. Modi, in a prior conversation with Trump, noted advancements in trade negotiations between India and the US.
As the geopolitical landscape evolves, the implications of Modi's alleged agreement and the US's ongoing economic policies toward Russia remain significant pointers in international relations.
