India's Oil Imports from Russia Remain Unclear Amid US Trade Deal
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India's purchase of Russian oil remains a mystery despite US President Donald Trump's claims that New Delhi would halt imports as part of a new trade deal with Washington. The Kremlin has denied receiving any information about a potential stop in oil purchases. According to the Kremlin, there has been no confirmation from India on Trump's claims. Kremlin spokesman Dmitry Peskov stated that Russia values its relationship with India and will continue to develop their strategic partnership. The trade deal between the US and India includes lower reciprocal tariffs and expanded market access. While India has confirmed the tariff reduction, no information has been provided on the status of Russian oil imports. A White House official stated that the 25% punitive tariff on Indian Russian oil imports would be dropped, but this has not been officially confirmed by India. Economists have warned that a sudden stop in Russian oil imports could disrupt India's economic growth and lead to higher inflation. The opposition Congress has demanded complete transparency on the trade deal, raising questions about several key aspects, including the opening of the agriculture sector, reduced tariffs, and a pause on Russian oil purchases. As India's largest oil importer, the country's oil market dynamics will continue to be closely watched. The situation remains unclear, and it is uncertain whether India will indeed halt its Russian oil imports.
