After Trump’s claim on Russian oil, India responds: ‘Priority is to safeguard interests of consumers’

However, the MEA spokesperson did not confirm or deny whether a conversation took place between Modi and President Trump on Wednesday, since Trump claimed he spoke with the Prime Minister. And neither did he address the specific claim that PM Modi had assured him of stopping oil purchases from Russia.

“India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective,” the MEA spokesperson said in a statement.

“Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions,” he said, reiterating India’s position since early 2022, when Russia invaded Ukraine.

“Where the US is concerned, we have for many years sought to expand our energy procurement. This has steadily progressed in the last decade. The current Administration has shown interest in deepening energy cooperation with India. Discussions are ongoing,” the spokesperson added.

Trump’s claim has come amid ongoing talks for a trade deal with India, and almost two months after the US imposed 25 per cent tariffs on India over those oil imports. Trump also said he would next try to get China to do the same, as Washington is making efforts to cut off Moscow’s energy revenues.

Trump said he raised concerns with PM Modi about India’s continued imports of Russian oil, which the US sees as indirectly funding President Vladimir Putin’s war. “I was not happy that India was buying oil,” he said.

Meanwhile, Indian government officials have indicated New Delhi is willing to step up energy imports from the US. Trade data released for September showed that imports from the US jumped 11 per cent while exports slipped 12 per cent.

On Wednesday, Commerce Secretary Rajesh Agrawal said energy purchases from the US — largely crude oil — have fallen from $25 billion to around $12–13 billion in the past seven to eight years. “So, there is headroom of around $12–15 billion, which we can purchase without worrying about the configuration of refineries,” he said while responding to a question on whether India could step up oil imports from the US to strike a deal.

“There is a bilateral commitment, and in the discussions we are in, we have indicated very positively that India, as a country, would like to diversify its portfolio as far as energy imports are concerned. That’s the best strategy for a big buyer like India,” he said.

The US had imposed additional 25 per cent tariffs — taking total tariffs on Indian products to 50 per cent — on August 27. This has resulted in a 12 per cent decline in Indian exports during September.

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