Indian Prime Minister Narendra Modi has agreed to stop purchasing Russian oil as part of a trade agreement reached with President Donald Trump that would lower tariffs on both countries’ goods.
The trade deal represents a de-escalation between the two countries, as Trump has imposed sweeping tariffs on Indian goods for its continued purchase of Russian oil, which is used to fund the war in Ukraine. India is the second-largest importer of Russian oil, following China.
Trump announced the trade deal after a call with Modi on Monday, stating India has “agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela.”
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Trump said the U.S. will reduce tariffs on India from 25% to 18%. The president added that India
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