The India-flagged oil tanker Desh Ujaala is pictured within the Gulf waters close to Al-Basrah Oil Terminal (ABOT), about 50 kilometres offshore of Iraq’s southern Faw peninsula, on August 5, 2025.
Hussein Faleh | AFP | Getty Photographs
U.S. President Donald Trump stated Wednesday that Indian Prime Minister Narendra Modi informed him New Delhi will cease shopping for oil from Russia, although the transfer will take time.
“[Modi] assured me right this moment that they won’t be shopping for oil from Russia. That is an enormous cease.” Trump stated on the press briefing within the Oval Workplace. “Now we have to get China to do the identical factor.”
He added that Washington was sad with New Delhi’s purchases of Russian crude as a result of it allowed Moscow to proceed waging its “ridiculous conflict” in Ukraine.
Nonetheless, the U.S. president additionally stated that the halt is not going to be rapid, and there might be “a bit little bit of a course of,” with out giving a transparent timeline.
CNBC reached out to India’s Ministry of Petroleum and Pure Gasoline for remark, however didn’t obtain a right away reply.
India’s imports of Russian oil have been a sticking level within the relationship between Washington and New Delhi. Trump slapped extra tariffs of 25% on India again in August, elevating the overall levy to 50%, whereas India has referred to as out the U.S. for its commerce with Russia.
“If India would not purchase [Russian] oil, it makes [ending the war] a lot simpler,” Trump stated. “They assured me inside a brief time period, they won’t be shopping for oil from Russia, and they’ll return to Russia after the conflict is over.”
On Thursday, Brent crude futures climbed 0.82% to $62.43 a barrel by 10:31 p.m. ET, whereas U.S. West Texas Intermediate futures climbed 0.89% to $58.79.
India is among the greatest consumers of Russian oil. Information from analysis agency Kpler reveals Russia exports about 3.35 million barrels of crude per day, with India taking about 1.7 million and China 1.1 million.
New Delhi has defended these purchases, with Vitality Minister Hardeep Singh Puri telling CNBC in July that New Delhi helped stabilize international power costs and was inspired by the U.S. to take action.
“If folks or international locations had stopped shopping for at that stage, the value of oil would have gone as much as 130 {dollars} a barrel. That was a scenario wherein we had been suggested, together with by our associates in the USA, to please purchase Russian oil, however throughout the worth cap,” Puri stated.
Russian gross sales of crude oil have been positioned underneath a worth cap by the G7 nations and the European Union since Moscow’s 2022 invasion of Ukraine.
That worth cap, set at $47.6 per barrel, goals to restrict Moscow’s income from oil exports, constricting the nation’s capability to finance its conflict in Ukraine.
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