Trump ties India tariff relief to shifting away from Russian oil, Modi reportedly on board

President Trump announced an immediate cut of Indian tariffs to 18% (from 50%, with the previously added reciprocal 25%) in exchange for India’s pledge to replace Russian crude with oil from Venezuela and the United States. India has been importing about 1.5 million barrels per day of Russian oil, and experts say fully replacing that supply would take significant investment and time given India’s energy security needs. Modi posted that he welcomed tariff relief on Indian goods, but did not publicly confirm cutting Russia oil purchases. Analysts caution that India could still source sanctioned Russian oil through evasion methods, and market impact remains uncertain amid price volatility and broader geopolitical dynamics.