The Kremlin said Tuesday it has not received any notification from India about halting purchases of Russian oil. “So far, we have not heard any statements to that effect from Delhi,” Kremlin spokesman Dmitry Peskov said, responding to comments by US President Donald Trump.
Meanwhile, US ratings agency Moody’s said it is unlikely India will immediately cease all purchases of Russian oil, despite a recent decline in crude imports from Russia. Such a move could “disrupt India’s economic growth,” Moody’s noted in a report cited by Reuters.
India’s refineries will need time to wind down operations before they can stop imports from Russia, and the government in New Delhi has not issued such an order yet, Reuters reported, citing two refining industry sources.
A day earlier, Trump said Indian Prime Minister Narendra Modi agreed in a call to stop buying Russian oil. According to Trump, India is ready to increase purchases from the United States and possibly Venezuela. “This will HELP STOP THE WAR in Ukraine, which is going on right now and taking thousands of lives every week!” Trump wrote on Truth Social. He added that Washington agreed to immediately cut the tariff rate for India from 25% to 18%.
For his part, Modi wrote on X that he had a “wonderful” conversation with the US leader. “When two major economies and the world’s largest democracies work together, it benefits our people and opens up tremendous opportunities for mutually beneficial cooperation,” he said.
In October, the United States announced new sanctions on Russia, citing “Russia’s lack of serious interest in the peace process” to end the war Moscow launched in Ukraine.
Violations could trigger “civil or criminal penalties for US persons and foreign nationals.” Afterward, reports said China and India would sharply cut imports of Russian oil.
