Two days later, US President Donald Trump announced a news India-US trade agreement Demanding that New Delhi stop buying Russian oil, Russia has said that New Delhi is free to buy oil from any country.
FILE: Kremlin spokesman Dmitry Peskov gestures during Russian President Vladimir Putin’s annual year-end news conference in Moscow. (Photo by Alexander Nemenov/AFP) (AFP)Russian Press Secretary Dmitry Peskov said that Russia is not the only supplier of oil and petroleum products to India, New Delhi buys oil from other countries.
“We, along with all other international energy experts, are well aware that Russia is not the only supplier of oil and petroleum products to India. India has always bought these products from other countries. So, we do not see anything new here,” Dmitry Peskov said, according to PTI.
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The Kremlin spokesman’s comments came in response to a question about Trump’s claim that Prime Minister Narendra Modi had agreed to stop buying Russian oil and switch to buying it from the United States.
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On Tuesday, Peskov said Russia had heard nothing from New Delhi on the matter. He added that Russia values its relationship with India and will continue to develop its strategic partnership.
Does India-US trade deal include stopping Russian oil purchases?US President Donald Trump on Monday announced a new trade deal with Washington and New Delhi, which includes a lower reciprocal tariff for India and demanded that New Delhi stop buying Russian oil and increase imports of American goods.
India has confirmed the tariff reduction, but no official word on stopping Russian oil imports.
Trump and Prime Minister Modi announced the trade deal after a phone call on Monday. PM Modi said Indian goods will now face a reduced US tariff of 18% after his phone conversation with Trump. India earlier faced 25% higher reciprocal duties and 25% additional penalty.
Also read: Kremlin hits back after Trump claims India will stop buying Russian oil
“Wonderful to speak to my dear friend President Trump today. Delighted to see 18% tariff reduction on products made in India now. Many thanks to President Trump on behalf of the 1.4 billion people of India for this great announcement,” PM Modi said in a social media post.
While PM Modi’s post mentioned tariff cuts, it did not mention any trade deals or commitments related to buying Russian oil.
Kommersant FM, a prominent Russian radio channel, noted that, unlike President Trump, Prime Minister Modi did not mention any deal to stop Russian oil imports.
A top Russian expert also suggested that Indian refiners may not completely stop importing Russian crude, adding that India imports 1.5 million to 2 million barrels per day from Russia.
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“The American shale oil they export is a lighter grade, similar to gas condensate. On the other hand, Russia supplies relatively heavy, sulfur-rich Urals. This means India has to mix US crude oil with other grades, which means additional costs, which means a simple substitution will not be possible.”
“Russia normally exports 1.5 million to 2 million barrels per day to the country. America will not be able to cover that amount. So, one can understand that Trump is just trying to show that he has won this trade negotiation and the deal is fully in line with US demands,” he added.
