India-US Trade Deal Includes Tariff Cuts and Energy Purchase Commitments Amid Russian Oil Import Uncertainty

The US announced a trade deal with India, reducing tariffs on Indian goods from 50% to 18%, linked to India's commitment to halt Russian oil imports and increase purchases from the US and potentially Venezuela. White House officials, including Press Secretary Karoline Leavitt, affirmed India's commitment following talks between President Trump and Prime Minister Modi. However, India has not officially confirmed stopping Russian oil imports, and Russian officials state they have received no such communication. Experts note India's gradual reduction in Russian oil purchases reflects market-driven diversification amid logistical and quality challenges in fully replacing Russian crude. The deal also includes a $500 billion investment commitment from India into the US across various sectors. The situation remains fluid, with ongoing discussions and awaited clarifications from both sides.