Trump Pledges Tariff Cuts for India After Drop in Russian Oil Imports

U.S. President Donald Trump has announced that Washington is prepared to ease trade tariffs on India following New Delhi’s sharp reduction in imports of Russian crude oil.

The Gaze reports this, referring to the White House broadcast.

Speaking on Monday, November 10, during the swearing-in ceremony of India’s new ambassador, Trump said the tariffs had been imposed in response to India’s earlier purchases of Russian energy, but circumstances had changed.

“Tariffs on India were extremely high because of Russian oil. They’ve now suspended those purchases and cut imports significantly. Yes, we will reduce tariffs,” Trump told reporters.

Pressed for details about the timing or scale of the cuts, the president offered only a brief remark: “At some point, we will reduce them.” 

The statement came shortly after the U.S. imposed new sanctions on Russian oil giants Rosneft and Lukoil, citing Moscow’s continued unwillingness to engage in meaningful peace talks aimed at ending the war in Ukraine.

According to U.S. Treasury Secretary Bessent, the latest sanctions could slash Russia’s oil revenues by as much as 30%.

Indian refineries, meanwhile, have reportedly halted new orders for Russian oil amid the sanctions, awaiting further guidance from both the Indian government and energy suppliers.

After emerging as Russia’s largest oil importer since 2022, purchasing more than 1.9 million barrels per day, accounting for around 40% of Moscow’s total exports, India now finds itself compelled to recalibrate its energy strategy.

As The Gaze informed earlier, in a recent interview with CBS, U.S. Treasury Secretary Scott Bessent said that new U.S. sanctions against leading Russian oil companies are already hitting Russia's economy, despite the Kremlin's claims to the contrary.