India to stop buying Russian oil, Trump claims
Donald Trump, President of the US (photo: Getty Images)
US President Donald Trump stated that he has been informed of India’s alleged plans to stop buying Russian oil, according to his interview with journalists.
“Well, I understand India is no longer going to be buying oil from Russia. That's what I heard. I don't know if that's right or not, but that's a good step. We'll see what happens,” Trump said.
India suspends Russian oil imports
According to Reuters, India’s state-owned oil refiners temporarily halted purchases of Russian oil last week. The decision was driven by shrinking discounts on Russian crude and threats from Donald Trump to impose sanctions.
While private giants Reliance Industries and Nayara Energy remain the main importers of Russian oil in India, state-owned refineries account for over 60% of the country’s total refining capacity.
Bloomberg reported that at least four tankers carrying Russian oil are currently idling off the coast of India.
On July 31, US President Donald Trump imposed tariffs on more than 40 countries worldwide, with the tariff rate for India set at 26%.
