US-India trade deal targets Russian oil imports
Shafaq News- Washington
US President Donald Trump said on Monday that a new trade agreement with India will see New Delhi halt Russian oil imports and shift to Venezuelan crude, a move that would help “end the war in Ukraine.”
In a post on Truth Social, Trump said that “out of friendship and respect” for Modi and upon his request, the United States will cut tariffs on Indian imports from 25% to 18%, while New Delhi will remove duties on US products, adding that the decision is “effective immediately.”
Modi welcomed the agreement in a post on X, noting that cooperation between “two great economies and the world’s largest democracies” would benefit their peoples and open broad prospects for mutually beneficial partnership.
Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.When two large economies and the…
— Narendra Modi (@narendramodi) February 2, 2026
Trump previously outlined plans for the United States to maintain control of Venezuela’s oil sector and “rebuild” the country’s energy infrastructure following the US military operation in Caracas that left 200 people dead and resulted in the capture of President Nicolas Maduro and his wife, Cilia Flores.
On August 6, he imposed additional 25% tariffs on Indian imports, citing New Delhi’s continued purchases of Russian oil. With the new measures, the total tariffs on Indian exports to the US have risen to 50%, among the highest imposed on any American trade partner, including those still trading with Russia. Later, Reuters reported, citing Indian government officials, that India suspended deals to purchase American weapons, in response to the US tariff policies.
