India-US Trade Deal Talks: Trump Claims India May Halt Russian Oil Imports — What We Know

India-US Trade Deal: What Donald Trump Said on Russian and Venezuelan Oil Imports

While Prime Minister Narendra Modi confirmed a reduction in US tariffs on Indian goods under the proposed India-US trade deal, he remained silent on US President Donald Trump’s claim that India would stop buying Russian oil. Trump also suggested that India could increase oil purchases from the United States and potentially Venezuela — a claim New Delhi has not officially confirmed.

Trump Claims India Will Shift Away From Russian Oil

US President Donald Trump on Monday said that Prime Minister Narendra Modi had “agreed to stop buying Russian oil” as part of a broader India-US trade agreement. According to Trump, India would instead buy more crude oil from the United States and may also source oil from Venezuela.

Trump made the remarks while announcing a sharp cut in tariffs on Indian goods, reducing them from 50% to 18%. Earlier, the US had imposed a 25% reciprocal tariff on India, along with an additional 25% penalty linked to India’s continued imports of Russian crude amid the Ukraine war.

Trump Mentions Venezuelan Oil, India Yet to Confirm

In a recent interview aboard Air Force One, Trump further claimed that India would buy Venezuelan oil instead of sourcing crude from Iran. He made the statement while responding to a question about China. However, the Indian government has not confirmed any such agreement involving Venezuelan oil purchases.

India’s Stand on Russian Oil Imports

India has consistently maintained that its oil procurement decisions are driven by market conditions rather than political mandates. Last week, Petroleum and Natural Gas Minister Hardeep Singh Puri said India’s imports of Russian crude are expected to continue declining as the country diversifies its energy suppliers.

Puri noted that India currently imports oil from 41 countries and that there is “no mandate” from the government directing companies to buy or stop buying Russian oil. According to him, Russian crude shipments have already dropped to about 1.3 million barrels per day (bpd), down from an average of 1.8 million bpd last year.

“These are market-driven conditions,” Puri said, adding that the trend points to a gradual decline in Russian oil imports.

Jaishankar Defends India’s Energy Strategy

External Affairs Minister S Jaishankar has previously defended India’s oil purchases from Russia, pointing out that India is not the world’s largest buyer of Russian crude. Speaking in August 2025, Jaishankar said China remains the biggest purchaser of Russian oil, while the European Union is the largest buyer of Russian LNG.

He also highlighted that the US had earlier encouraged India to buy oil from Russia to help stabilise global energy markets. “Incidentally, we also buy oil from the US, and that amount has increased,” Jaishankar said, questioning the logic behind criticism of India’s energy choices.

How Much Oil Does India Import From Russia?

India emerged as the largest buyer of Russian seaborne oil after the Ukraine war began. At its peak, India imported over 2 million barrels per day of Russian crude. However, data shows a steady decline in recent months.

By January 2026, daily imports fell to around 1.2 million bpd. Industry estimates suggest imports could drop further to between 800,000 and 1 million bpd in the coming months — a level considered manageable for India and acceptable to the US.

Russia’s share in India’s crude imports, once around 35%, has now fallen to below 25% and may decline further as major refiners like Reliance Industries reduce purchases of Russian oil.

What Lies Ahead

While Trump has linked oil sourcing changes to the India-US trade deal, Indian officials have repeatedly emphasised that energy imports are guided by commercial considerations. Until New Delhi issues an official confirmation, claims about India halting Russian oil purchases or shifting to Venezuelan crude remain unverified.