India is reportedly planning to gradually reduce its Russian oil imports, a move influenced by US pressure and tariffs. While refiners await official directives, the government prioritizes stable energy prices and supply security. Discussions are ongoing with the US for enhanced energy cooperation, potentially impacting trade agreements and tariff rates.
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President Donald Trump stated that Indian Prime Minister Narendra Modi indicated India would significantly reduce its oil purchases from Russia. Trump shared this information following a conversation with Modi, emphasizing Modi's desire for the Russia-Ukraine war to conclude.
