President Donald Trump said that India would no longer buy Russian oil and instead purchase from America and “potentially” Venezuela.
Trump said he reached a trade deal with Indian Prime Minister Narendra Modi after a wide-ranging phone call Monday morning. The president first said India had agreed to stop buying Russian oil last October, but no deal was formalized at the time.
“We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela,” Trump wrote on Truth Social. “This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!”
After the capture of Venezuelan dictator Nicolás Maduro, Trump said that the United States would take over Venezuela’s oil industry and rebuild its oil fields. He said that American companies will invest billions into Venezuela as part of the takeover.
As part of the deal, Trump added that tariffs on India would be lowered from 25% to 18%.
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%,” Trump continued. “They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO.”
Trump said that Modi committed to purchasing more American products, including over $500 billion of energy, tech, and agricultural products.
“Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most,” Trump said.
Since last fall, Trump has been pressuring India to stop buying oil from Russia, accusing the country of funding the war with Ukraine.
“India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump said in August. “Because of this, I will be substantially raising the tariff paid by India to the USA.”
After the war with Ukraine started in 2022, India became the largest importer of Russian seaborne crude oil, Reuters reported. In 2025, about 35% of oil imported into India came from Russia.
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