&w=3840&q=100)
Trump says he heard India halted Russian oil purchases after tariff threat, calls it 'good step'
Days after introducing high tariffs against India, US President Donald Trump said on Friday that he heard that India is no longer purchasing oil from Russia. While speaking to the reporters, Trump went on to describe the halting of oil purchases as a 'good step'.
'I understand India no longer is going to be buying oil from Russia,' Trump told reporters as he departed the White House for his weekend trip to his Bedminster Golf Club in New Jersey. 'That's what I heard. I don't know if that's right or not, but that's a good step. We'll see what happens,' he said.
STORY CONTINUES BELOW THIS AD
Earlier this week, Trump accused New Delhi of committing unfair trade practices by extensively purchasing oil and military equipment from Russia. 'INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,' he wrote on Wednesday on Truth Social.
#WATCH | "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..." says, US President Donald Trump on a question by ANI, if he had a number in mind for the… pic.twitter.com/qAbGUkpE12 — ANI (@ANI) August 1, 2025
However, he is yet to reveal the specifics of the 'penalty'. While Trump admitted that India is a 'friend'. He slammed India's trade barriers and Russia connections. 'India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World,' he wrote.
STORY CONTINUES BELOW THIS AD
The trade between the US and India has remained substantial for decades, with goods reaching $129 billion in 2024, and Washington running a $45.7 billion trade deficit, according to the Office of the United States Trade Representative.
India looks for options
Trump's remarks on the matter came days after multiple media reports suggested that Indian state refiners have temporarily paused Russian oil purchases due to narrowing discounts and shipping challenges. However, the Indian government has yet to confirm the move officially.
Meanwhile, the Ministry of External Affairs Spokesperson Randhir Jaiswal on Friday responded to the criticisms hurled by the Trump administration and defended India's longstanding partnership with Russia.
'India and Russia share a steady and time-tested partnership,' he said. Jaiswal also reaffirmed the strength of the India-US relationship, noting it is based on 'shared interests, democratic values, and robust people-to-people ties,' and expressed confidence that bilateral relations would continue to move forward despite current tensions.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hans India
19 minutes ago
- Hans India
Petrochemical Consolidation to Accelerate Globally; India Poised to Play Strategic Role: BCG Report
The global petrochemical sector is set to undergo significant consolidation, driven by prolonged low margins, overcapacity, and shifts in regional growth patterns, according to a new report by Boston Consulting Group (BCG) titled 'Preparing for the Next Wave of Petrochemical Consolidation.' The report points to a steep drop in sector profitability, with average ROCE falling from 8% in 2019 to ~4% in 2024, and highlights that capacity additions in several regions are outpacing demand growth. These conditions are accelerating rationalization and consolidation efforts, as companies seek to remain competitive in an increasingly challenging environment. India: A Regional Growth Engine in the Making India is uniquely positioned to emerge as a regional consolidator, given its robust domestic demand and expanding manufacturing capacity. With an eye on this strategic opportunity, Indian petrochemical players must now look beyond organic growth to targeted M&A, vertical integration, and investment in technological and sustainability capabilities. Commenting on the opportunity ahead, Kaustubh Verma, Managing Director & Partner, Energy Practice, BCG, said, 'As the global petrochemical landscape moves toward a new phase of consolidation, India stands at a strategic inflection point. With strong domestic demand and a growing manufacturing base, Indian players have the opportunity to carve out regional leadership by leveraging targeted M&A, securing critical feedstock access, and strengthening their technology and sustainability edge. To stay competitive, companies must proactively assess their portfolios and prepare for multiple market scenarios, those who act decisively now will be better positioned to capture long-term advantage.' Key Highlights from the Report: Margin Pressure is Here to Stay: With slow demand growth and increasing production capacity, global petrochemical players face tighter margins and the need for operational efficiency. M&A and Rationalization to Dominate Strategy: Capacity rationalization and strategic M&A will likely dominate boardroom discussions over the next few years. India Well-Placed for Strategic Expansion: India's domestic market growth, coupled with maturing industrial capacity, positions it as a potential consolidator in the region. Call to Action: The report urges petrochemical companies to reassess their portfolios, anticipate multiple market scenarios, and move early to capture the next wave of advantage. Please find the full report here: Preparing for the Next Wave of Petrochemical Consolidation

Time of India
19 minutes ago
- Time of India
Viral Video Showing Indian Man Remotely Operating Front Desk Of U.S. Hotel Sparks Debate
A video showing an Indian man remotely operating the front desk of a Miami hotel has gone viral, sparking mixed reactions online. The clip features a guest checking in via a video call with the virtual receptionist, believed to be working from India. Many viewers criticized the hotel for outsourcing American jobs abroad, with some calling for such practices to be banned. Supporters say this trend, boosted by the pandemic, offers cost savings and operational efficiency. India remains a major outsourcing hub, with many US companies relying on its skilled workforce. The video highlights ongoing debates about job security, immigration, and virtual work in the US.#virtualreceptionist #outsourcingjobs #miamihotel #remotefrontdesk #tiktokviral #joboutsourcing #h1bvisa #usjobs #americanjobs #india #viralvideo #toi #toibharat


Hindustan Times
19 minutes ago
- Hindustan Times
Limits of Dhaka's showtrial politics
Nearly three months after Bangladesh's interim government banned all activities of the Awami League under an anti-terror law, the country's International Crimes Tribunal has begun the trial of former prime minister Sheikh Hasina on charges of crimes against humanity linked to the crackdown on protests against her regime last year. This appears to be yet another move aimed at discrediting the Awami League and erasing its role from the political history of Bangladesh. Sheikh Hasina's administration displayed an authoritarian impulse at times, especially in its final months, which was reflected by its high-handed actions against the Awami League's political opponents. But excessive targeting of a single leader misses out the larger structural fault lines in play that influence politics in Bangladesh. Barring the stabilisation of the internal situation, there are few signs that Bangladesh's interim government has implemented other reforms or really begun preparing for free and fair elections. (AFP) The decision by the interim government led by Muhammad Yunus to ban the Awami League can hardly be perceived as impartial, especially when Bangladesh appears to be on the road towards a general election, and student groups that were once aligned with Yunus are trying to strengthen their new political party. There are no valid grounds for prohibiting the activities of one particular political party even if its leader is on trial in absentia. Barring the stabilisation of the internal situation, there are few signs that Bangladesh's interim government has implemented other reforms or really begun preparing for free and fair elections. For New Delhi, hopefully, Hasina's trial will not turn into an anti-India campaign at a time when bilateral ties are at a fresh low.