US President Donald Trump on Wednesday said that Prime Minister Narendra Modi personally promised him that India would stop buying oil from Russia. However, there has been no confirmation from the Indian government on the matter yet. “There will be no oil. He’s not buying oil,” Trump said. He added that the switch won’t happen immediately but “within a short period of time”.
‘They will not buy oil from Russia’: Trump
Trump said that PM Modi gave him this assurance during a private conversation on Wednesday that had not been undisclosed before.
“I was not happy that India was buying oil, and he assured me today that they will not be buying oil from Russia. That’s a big step. Now I got to get China do the same thing,” Trump told reporters at the White House.
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India, the world’s second-largest buyer of Russian oil after China, faced higher US tariffs in August as part of Trump’s efforts to pressure New Delhi.
Relations between the US and India have been tense since Trump hiked tariffs on India for buying Russian oil. Ties worsened further when Trump decided to charge a $100,000 fee for new H-1B visa applications, a program mostly used by Indian tech workers to work in the US.
‘Modi is a great man,’ says Trump
While addressing a joint news conference with FBI Director Kash Patel from the Oval Office on Wednesday, Trump was asked about US Ambassador-designate Sergio Gor’s discussions with PM Modi.
“I think they were great. Modi is a great man. He (Sergio Gor) told me that he (PM Modi) loves Trump.”
The President praised India’s political stability under Modi, noting that the country once went through frequent changes in leadership. He said he had observed India for many years and remembered a time when new leaders came to power almost every year, some lasting only a few months. He added that under Modi, India has enjoyed steady leadership for a long time.
Oil price up 1% after Trump’s comments
After Trump assured that the Indian government will stop buying Russian oil soon, the oil prices went up by about 1% in early trading on Thursday. Brent crude futures increased by 57 cents, or 0.9%, to reach $62.48 a barrel at 0046 GMT. As per Reuters, US West Texas Intermediate (WTI) futures also rose 54 cents, or 0.9%, to $58.81 a barrel.
In the previous session, both oil benchmarks had dropped to their lowest levels since early May because of tensions between the US and China, and a warning from the International Energy Agency about a possible large oil surplus next year. The agency said production from OPEC+ and other producers was rising even as global demand remained weak.
