Putin’s oil or Trump’s concessions - which way will India lean?

US President Donald Trump has claimed that New Delhi has agreed to stop buying oil from Russia as part of a recent trade deal between India and the US.

However, the Kremlin said that it has not yet received any official statement or signal from India about stopping energy purchases. Kremlin spokesman Dmitry Peskov told reporters that Russia respects the bilateral relations between India and the US, but at the same time it attaches the utmost importance to maintaining Russia's 'developed strategic partnership' with New Delhi. He made it clear that Moscow is committed to further advancing its bilateral relations with India.

On Monday (January 2), US President Trump announced that tariffs on Indian goods have been reduced from 50 percent to 18 percent. In return, India has agreed to stop buying oil from Russia and import oil from the US and Venezuela.

According to Trump, this agreement with Prime Minister Modi will help end the Ukraine war, as it will reduce Russia's ability to pay for the war. Trump had made a similar claim last year, although it did not come to fruition.

India has long maintained its position as one of the main buyers of Russian crude oil. Currently, India imports about 1.5 million barrels of Russian oil per day, which is more than one-third of the country's total energy imports. The Indian government has always claimed that this trade relationship is essential for the country's energy security.

Although India's relationship with Russia has historically been defense-focused, in recent years India has used the opportunity to get cheap Russian oil with great importance. Even in December last year, Russian President Vladimir Putin visited India and promised uninterrupted energy supplies despite US pressure.

Source: NDTV.