India to Slash Russian Oil Imports in Historic Trade Deal with United States
United States President Donald Trump and Indian Prime Minister Narendra Modi have reached a landmark bilateral trade agreement that significantly reshapes energy and defense ties between the two nations. Under the deal, effective immediately, the U.S. will reduce its tariff on Indian goods from 50% to 18%, while India has committed to cutting its own trade barriers to zero for American products.
As a cornerstone of the agreement, Prime Minister Modi agreed that India would halt its purchases of Russian oil, replacing those volumes with increased imports from the United States and potentially Venezuela.
President Trump stated that this move is intended to help bring an end to the conflict in Ukraine by reducing Russia’s export revenues.
The agreement also includes a pledge from India to purchase over $500 billion worth of American goods, including energy, advanced defense equipment, aircraft, and agricultural products. Indian External Affairs Minister S. Jaishankar welcomed the deal, noting it will strengthen the "Make in India" initiative and foster deeper technological and economic cooperation.