\n<\/p>\n
Donald Trump claimed India has agreed to stop buying Russian oil as he announced plans to cut US tariffs on Indian exports.<\/p>\n
The US president announced that he and the Indian prime minister, Narendra Modi, whom he proclaimed to be \u201cone of my greatest friends\u201d, had agreed to strike a trade deal.<\/p>\n
While full details have yet to be disclosed, Trump claimed that India \u2013 the second largest purchaser of Russian crude \u2013 had agreed to stop buying Russian oil, after many months of pressure from the US.<\/p>\n
After a call with Modi on Monday, Trump wrote on his Truth Social platform: \u201cThis will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!\u201d<\/p>\n
Modi hailed the \u201cwonderful\u201d news on tariffs in a post on X, formerly Twitter, but did not explicitly mention his country\u2019s oil purchases.<\/p>\n
India, which relies heavily on oil imports from overseas to cover the vast majority of its demand, has imported cheaper Russian oil in recent years, as much of the western world sought to cut economic ties with Moscow following the 2022 invasion of Ukraine.<\/p>\n
Trump claimed that India had committed to buying more oil from the United States and \u201cpotentially\u201d Venezuela after agreeing to \u201cstop buying Russian Oil\u201d.<\/p>\n
US tariffs on Indian exports are set to fall from 25% to 18%, the president said, claiming that India would \u201clikewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO\u201d.<\/p>\n
An additional 25% US tariff on India, leveled by Trump last summer over its purchases, is also expected to be shelved.<\/p>\n
\u201cPresident Trump\u2019s leadership is vital for global peace, stability, and prosperity,\u201d said Modi. \u201cIndia fully supports his efforts for peace.\u201d<\/p>\n
The Russian president, Vladimir Putin, flew to India in December and declared that his country stood ready to continue \u201cuninterrupted\u201d shipments of oil to India. Both Putin and Modi stressed at the time that their ties were \u201cresilient to external pressure\u201d.<\/p>\n
But India has started to cut back on its oil purchases from Russia. In January, they were about 1.2m barrels per day, according to a Reuters report, and projected to decline to about 1m bpd in February and 800,000 bpd in March.<\/p>\n
Trump also claimed on Monday that Modi had pledged to buy more than $500bn worth of US energy, technology, agricultural and other products.<\/p>\n
\u201cOur amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most,\u201d he wrote. \u201cThank you for your attention to this matter!\u201d<\/p>\n
Reuters contributed <\/em>reporting<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Donald Trump claimed India has agreed to stop buying Russian oil as he announced plans to cut US tariffs on Indian exports. The US president announced that he and the Indian prime minister, Narendra Modi, whom he proclaimed to be \u201cone of my greatest friends\u201d, had agreed to strike a trade deal. While full details<\/p>\n","protected":false},"author":1,"featured_media":43564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[2479,7409,304,426,18916,268,672,415,72,81],"class_list":{"0":"post-43563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-agrees","9":"tag-buying","10":"tag-cut","11":"tag-india","12":"tag-modi","13":"tag-oil","14":"tag-russian","15":"tag-stop","16":"tag-tariffs","17":"tag-trump"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/43563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43563"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/43563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/43564"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}