Congress Leader Jairam Ramesh Questions Government Over Trump’s Russia Oil Claim

Trump has mentioned this alleged assurance three times over five days, stating that he spoke with PM Modi and received confirmation that India would cut back on Russian oil imports. However, on October 16, the Ministry of External Affairs (MEA), through spokesperson Randhir Jaiswal, clarified that no such conversation had taken place between the two leaders.

Despite this denial, Trump has insisted his claim is true and even warned that India would face heavy tariffs if it denied the conversation.

Timeline of Trump’s Statements:

• October 15: "I spoke with Prime Minister Modi today. He assured me that India will not buy oil from Russia."

• October 17: "India is pulling back. They used to import 38% of oil from Russia."

• October 19: "If India denies the conversation, they’ll face heavy tariffs."

• October 16: MEA denies any conversation between PM Modi and Trump.

MEA Response:

Randhir Jaiswal stated that no such call took place and emphasized that India’s oil import policy prioritizes public interest, price stability, and energy security. He added that India is continuously diversifying its energy sources based on market conditions.

Sanctions and Tariffs on India:

The US has imposed economic sanctions on India aimed at pressuring Russia, alleging that revenue from Indian oil purchases funds the Ukraine war. Trump’s administration has enforced 50 tariffs, including:

• 25% reciprocal tariffs (effective from August 7, 2025)

• 25% penalty tariffs for Russian oil purchases (from August 27, 2025)

White House Press Secretary Carolina Levitt stated the goal is to apply secondary pressure on Russia to end the war.

Current Status of Indian Oil Imports from Russia:

• In September 2025, Russia accounted for 34% of India’s total oil imports.

• Imports dropped from 1.72 million bpd in August to 1.61 million bpd in September.

• This drop is seen as a response to US pressure and part of efforts to diversify sources.

Shift in Import Patterns:

• Government-owned refineries (IOC, BPCL, HPCL) reduced Russian imports by over 45%, from 1.1 million bpd in June to 600,000 bpd in September.

• Private companies like Reliance Industries (850,000 bpd) and Nayara Energy (~400,000 bpd) have increased their purchases, keeping total import levels steady.

Why India Continues Buying Oil from Russia:

1. Lower Prices: Russian oil remains cheaper compared to other suppliers. Discounts have narrowed but still exist — from $30 to $3–6 per barrel.

2. Long-Term Contracts: Indian firms like Reliance have signed long-term deals — e.g., a 10-year agreement to import 500,000 bpd signed in December 2024.

3. Global Price Stability: India's continued imports help stabilize the global oil market. A sudden halt could drive prices up significantly.

In 2021, India imported just 0.2% of its oil from Russia. Post-Ukraine war, Russia has become India’s top oil supplier, providing around 37% of its total oil needs as of 2025.