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ECONOMY

Trump says he heard India stopped buying Russian oil, calls it ‘good step’

WASHINGTON 

US President Donald Trump said Friday he heard that India is no longer purchasing oil from Russia, a move he described 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.

Trump has accused New Delhi of unfair trade practices and extensive energy and arms relations with Russia.

“INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,” he wrote Wednesday on Truth Social.

Without revealing specifics on the “penalty,” Trump criticized 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.

US-India trade is substantial, 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.

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