India to End Russian Oil Purchases, Boost US Energy Imports: White House
World
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Moneycontrol•04-02-2026, 08:32
India to End Russian Oil Purchases, Boost US Energy Imports: White House
- •White House announced India committed to ending Russian crude oil purchases and increasing imports of American energy.
- •The commitment was part of a new India-US trade agreement, following direct talks between Donald Trump and Narendra Modi.
- •Press Secretary Karoline Leavitt stated India will buy oil from the US and potentially Venezuela, benefiting American exports.
- •PM Modi also pledged USD 500 billion in investments into the United States across transportation, energy, and agriculture.
- •The trade deal includes lowering US reciprocal tariffs on Indian goods from 25 percent to 18 percent.
Why It Matters: India commits to shifting energy purchases from Russia to the US, strengthening bilateral trade and investment.
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