Trump claims India may exit Russian oil trade
Earlier on Friday, the External Affairs Ministry clarified that India's energy purchases are guided by market dynamics and national interests, adding that the government is unaware of any specific developments regarding Indian oil companies pausing Russian imports. Trump made the remarks while answering reporter's questions, on whether he had a number in mind for the penalties on India and if he was going to speak with Prime Minister Narendra Modi.
The US President said, "I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens..."
During the weekly media briefing, MEA spokesperson Randhir Jaiswal, when asked about media reports that some Indian oil companies have stopped taking oil from Russia, had said India has made clear its approach on the issue. "You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics," he said.
Jaiswal's comments came after a series of statements from the US, including from President Donald Trump and Secretary of State Marco Rubio, criticising India for continuing to import discounted Russian oil despite Western sanctions over the Ukraine war.
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IT sector experts anticipate recovery in 2026 as clarity on the US tariffs emerges and potential rate cuts by the US Federal Reserve help revive demand.
