In a significant geopolitical development, President Donald Trump announced on October 15 that India has agreed to stop purchasing oil from Russia within a short period a move aimed at cutting off financial support to Moscow’s ongoing war efforts in Ukraine. Speaking to reporters in the Oval Office, Trump stated, “Within a short period of time, they will not be buying oil from Russia,” underscoring his administration’s continued pressure on nations maintaining energy ties with the Kremlin.
The U.S. president has consistently criticized India and China for buying Russian crude, claiming that such transactions indirectly fund Moscow’s aggression in Eastern Europe. “We were not happy with him buying oil from Russia because that lets Russia continue on with this ridiculous war,” Trump said, referring to Indian Prime Minister Narendra Modi.
Earlier, on August 6, Trump issued an executive order imposing a steep 50 percent tariff on Indian goods entering the United States. He justified this move by citing India’s continued import of Russian oil, arguing that trade penalties were necessary to enforce accountability and deter financial flows that sustain Russia’s war machine.
India’s energy relationship with Russia has expanded dramatically in recent years. According to the U.N. Comtrade database, India’s crude oil imports from Russia surged from approximately $1 billion annually before the Ukraine invasion to $25.5 billion in 2022, $48.6 billion in 2023, and $52.7 billion in 2024. Analysts from the Observer Research Foundation estimate that India now accounts for more than one-third of Russia’s crude exports, with China taking about half.
The United States has also accused India of reselling Russian oil on the open market at substantial profit margins, a practice allegedly bolstering Russia’s economy further. Trump’s executive order specifically mentioned this concern, stating that such resale “further enables the Russian Federation’s economy to fund its aggression.”
The announcement comes amid already strained U.S.-India trade relations. In 2024, the U.S. goods trade deficit with India reached nearly $46 billion up 5.9 percent from the previous year. Meanwhile, Russia and India have continued to strengthen their bilateral cooperation, signing multiple trade, research, and defence agreements, including major deals between Putin and Modi in December 2021 and July 2024.
Trump’s latest statement signals a renewed push to isolate Russia economically and to pressure key global players like India to align with Washington’s strategic objectives a move that could have far-reaching consequences for global energy markets and U.S.-India relations alike.
Source: Zero Hedge
