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Donald Trump was addressing a press conference at the White House on Thursday.
US President Donald Trump claimed that India will no longer buy oil from Russia. Addressing a press conference at the White House on Thursday, Trump said that Prime Minister Narendra Modi is my friend. We have very good relations.
I was not happy with India buying oil from Russia but today he (PM Modi) assured me that he will not buy oil from Russia. This is a big step. Now we will have to get China to do the same.
In fact, America has imposed 25% additional tariff on India in August 2025 for buying oil from Russia. Earlier it had imposed 25% reciprocal i.e. tit-for-tat tariff. This brings the total tariff on India to 50%.
Trump said- Modi loves me, however do not take wrong meaning
Sergio Gore met PM Modi on October 11. This picture was shared by the Prime Minister on social media.
While answering the media’s questions, Trump also said that recently, Sergio Gore, who is going to be the US Ambassador to India, and PM Modi had met. After this meeting, Sergio told me that, he (Modi) loves Trump, although I would like not to misinterpret the word love here, I do not want to spoil anyone’s political career.
I have seen India for years, there the government changes every year. My friend (Modi) has been there for a long time. He assured that India will no longer buy oil from Russia. Although they cannot stop it immediately, there is a process which will be completed soon.
How did buying cheap oil from Russia start?
February Europe imposed sanctions on Russian oil after the Russia-Ukraine war began in 2022. After this Russia diverted its oil towards Asia. According to media reports, India imported only 0.2% of Russian oil in 2021, but it will become India’s largest oil supplier in 2025. Supplying an average of 1.67 million barrels per day. This is about 37% of India’s total requirement.
Why doesn’t India stop buying oil from Russia? India has many direct benefits of buying oil from Russia…
- Cheap oil from other countries: Russia is still giving cheaper oil to India than other countries. However, the discount which was earlier up to $30 per barrel has now come down to $3-6 per barrel.
- Long-Term Contracts: Indian private companies have long term contracts with Russia. For example, in December 2024, Reliance signed a contract with Russia to buy 5 lakh barrels of oil per day for 10 years. It is not possible to break such agreements overnight.
- Impact on global prices: India’s Russian oil imports help keep global oil prices stable. If India stops buying oil from Russia, global supply may reduce, causing prices to rise. After the war with Ukraine, oil prices reached $ 137 per barrel in March 2022.
Apart from Russia, which countries do India have options to buy oil from? India imports more than 80% of its oil needs. Apart from Russia, it buys most of the oil from countries like Iraq, Saudi Arabia and America. If Russia wants to stop oil imports then it will have to increase its imports from these countries…
- Iraq: It is India’s second largest oil supplier after Russia, which provides about 21% of our imports.
- Saudi Arabia: The third largest supplier, which supplies 15% of our oil needs (about 7 lakh barrels per day).
- America: In January-June 2025, India imported 2.71 lakh barrels of oil daily from America, which is double the previous figure. US share in India’s oil imports to reach 7% in July 2025.
- South African country: Nigeria and other South African countries also supply oil to India and government refineries are turning towards these countries.
- Other countries: Murban crude from Abu Dhabi (UAE) is a big option for India. Apart from this, India has also started importing oil from Guyana, Brazil, and other Latin American countries. However, buying oil from them is usually more expensive than Russian oil.
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1. Petroleum Minister said – Petrol and diesel prices can decrease: If the price of crude oil remains at $ 65 per barrel, then reduction is possible in 2-3 months.
The prices of petrol and diesel may reduce in the country. Petroleum and Natural Gas Minister Hardeep Singh Puri said that if the price of crude oil remains at $ 65 per barrel for a long time, then we can expect a reduction in the prices of petrol and diesel in the next 2-3 months. He said this in the ‘Energy Dialogue 2025’ going on in Delhi.
However, he also said that it depends on the stable situation. The situation may change if any major geopolitical developments occur, such as Iran-Israel tensions. In fact, oil prices have recently come down to $65 per barrel, due to which the profits of oil marketing companies are increasing. In such a situation, the government can provide relief to the public by reducing the prices of petrol and diesel.
2. Trump said-I have heard that India will stop buying oil from Russia: Report claims- India is still taking oil from Moscow
US President Trump said on Friday that there are reports that India will not buy oil from Russia for long. However, he said that he was not aware of the authenticity of these reports. But if this happens then it will be a good thing. Let’s see what happens next.
Earlier, Reuters reports had claimed that India has almost stopped buying oil from Russia due to American pressure and rising prices. After this, the Indian Foreign Ministry held a press conference on Friday evening. However, it was not made clear how much truth there is in this claim.
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