'India to continue buying oil': MEA responds amid Trump's claims of ending oil trade with Russia

Washington: US President Donald Trump on Wednesday said that Indian Prime Minister Narendra Modi has assured him that India will stop purchasing oil from Russia. However, while answering media queries on India's energy sourcing, official spokesperson from the Ministry of External Affairs said that there are talks of buying oil from the US, but India will continue to buy oil from different sources in the international market to meet its energy needs.

Official spokesperson Randhir Jaiswal said, “India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective. Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions.”

He added, “Where the US is concerned, we have for many years sought to expand our energy procurement. This has steadily progressed in the last decade. The current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing.”

Trump has recently criticized India for continuing to buy Russian oil. To pressure India, he imposed tariffs on Indian goods imported into the US, hoping it would make India reconsider its oil imports from Russia. The goal is to reduce Russia’s oil revenue and force Moscow into peace talks regarding Ukraine.

Trump added that his next goal is to persuade China to do the same, as the US has increased its efforts to cut off Russia’s oil revenues. India and China are the two largest buyers of Russian oil. They’ve been benefiting from lower prices on Russian oil after European countries stopped buying and after the US and EU imposed sanctions on Russia because of its invasion of Ukraine in February 2022.

"I wasn’t happy that India was buying oil, but today he told me they won’t buy it anymore from Russia," Trump said while speaking to reporters at a White House event. "That’s a big deal. Now we’ll work on getting China to do the same."

Russia is India’s largest oil supplier. In September, Russia sent India about 1.62 million barrels of oil per day, which is about a third of India’s total oil imports. For months, Modi has resisted pressure from the U.S., with Indian officials arguing that buying Russian oil is important for the country’s energy security.

If India stopped buying oil from Russia, it would be a significant shift for one of Russia’s biggest customers, and could influence other countries still importing Russian oil. Trump is trying to use individual country relationships to isolate Russia economically, instead of just relying on international sanctions.

This announcement comes just days after Trump’s nominee for Indian Ambassador, Sergio Gor, met with Modi to discuss defense, trade, and technology. Gor’s appointment, a close ally of Trump, was seen as a positive sign for U.S.-India relations.

Trump also mentioned that India wouldn’t be able to stop its oil imports immediately, describing the process as “a bit slow, but it will happen soon.”

Despite his pressure on India, Trump has been careful not to put similar pressure on China. The ongoing trade tensions between the U.S. and China make Trump hesitant to push China to stop buying Russian oil, fearing it could worsen the trade war.