India To Stop Buying Russian Oil, Offer Zero Tariffs On US Goods: White House Press Secretary On Trade Deal

(MENAFN- Live Mint) India-US Trade Deal: US White House Press Secretary Karoline Leavitt on Wednesday shared details about the India-US deal and the cordial relationship between US President Donald Trump and Prime Minister Narendra Modi.

Leavitt claimed that PM Modi had agreed to stop purchasing Russian oil and instead buy it from the US and, potentially, Venezuela.

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"I have the great honour and pleasure of seeing President Trump interact with leaders all around the world. When it comes to Prime Minister (Narendra Modi) Modi, I know he particularly enjoys the relationship and has a deep respect for the prime minister and for his country of India," Leavitt told Fox News on Tuesday, a day after President Trump announced that India and the US agreed to a trade deal under which Washington will reduce the reciprocal tariff on Indian goods to 18 per cent from the current 25%.

Trump had a phone conversation with PM Modi before he announced it on Truth Social.

“They had a great call, and it was very productive yesterday, and they struck a deal in which India has agreed to stop purchasing Russian oil and to purchase more American oil from the USA and potentially from Venezuela too,” Leavitt said.

1.5 million barrels of Russian oil

There has been no official statement on the deal yet. The information available is based on tweets by President Trump, Prime Minister Narendra Modi and his cabinet ministers. In fact, the Indian side has not mentioned the deal beyond the reduction of reciprocal tariffs to 18 per cent. There has been no word from the government on Russian oil or on the US claim that American exports to India would face a 0% tariff under the deal.

India has been importing roughly 1.5 million barrels of Russian oil each day - even months after Trump imposed punitive tariffs on Indian goods, according to Kpler, a global trade data provider, quoted by CNN.

Russian oil makes up more than a third of India's overall imports.

Union Commerce and Industry Minister Piyush Goyal on Tuesday, 3 February 2026, launched a scathing attack on Opposition parties, especially Congress leader Rahul Gandhi, over the criticism of the India-US trade deal and said that the deal is in the final stages of detailing between the negotiating teams.

This is a great deal and a huge win for American workers, businesses and consumers alike.

“As you know, the President and his national security team are dictating the commerce of Venezuela and the oil sales to benefit the American people. In addition, India has agreed to invest more in the United States following President Trump's call to action,” Levitt said.

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PM Modi committed to purchasing $ 500B in US energy, transportation, and agricultural products, she said.“US tariff on India would be on 18 per cent. But American exports to India would face a tariff of zero per cent. This is a great deal and a huge win for American workers, businesses and consumers alike,” Levitt said.

Key Takeaways

• India's commitment to cease Russian oil imports marks a pivotal shift in its energy policy.
• The trade deal aims to foster deeper economic ties between India and the US.
• Reciprocal tariffs will be reduced, benefiting both nations' businesses and consumers.

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