India to Halt Russian Oil Imports, Boost US Energy Trade Under New Deal

Speaking to reporters outside the White House, Leavitt stated that following direct talks between President Donald Trump and Prime Minister Narendra Modi on Monday, New Delhi agreed not only to halt purchases of Russian oil but also to increase imports of American energy.

She added that India may also consider buying oil from Venezuela, a move she said would benefit the American economy.

"As you all saw yesterday, the President struck another great trade deal with India. He spoke with Prime Minister Modi directly; they share a very good relationship. India committed to not only no longer purchasing Russian oil but also buying oil from the United States, and perhaps also from Venezuela, which we know will now have a direct benefit on the United States and the American people," Leavitt said.

Leavitt also asserted that India has called for further economic cooperation, including USD 500 billion in investment in the United States, covering sectors such as transportation, energy, and agriculture.

"In addition to that, Prime Minister Modi committed to USD 500 billion of investments into the United States, including for transportation, for energy, and for agricultural products as well. This is another great trade deal," the Press Secretary added.

Earlier on Monday, Trump said that the US and India "have agreed to a trade deal" with Washington reducing the reciprocal tariff from 25 per cent to 18 per cent "out of friendship and respect" for PM Modi.

In his Truth Social post, Trump referred to his conversation with PM Modi earlier in the day, noting that the Prime Minister was one of his closest friends and a powerful, respected leader of India.

The US President also claimed that PM Modi had agreed to "stop buying Russian oil" and to buy much more from the US, and further noted that India would reduce tariffs and non-tariff barriers against the US.

"It was an Honor to speak with Prime Minister Modi, of India, this morning. He is one of my greatest friends and, a Powerful and Respected Leader of his Country. We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela," Trump said in his post.

"Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO," he added.

Following Trump's post, Prime Minister Narendra Modi, on X, said it was wonderful to speak with his "dear friend President Trump" and expressed delight that "Made in India products will now have a reduced tariff of 18%".

"Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement," PM Modi wrote in a post on X.

Meanwhile, on Tuesday, Commerce and Industry Minister Piyush Goyal said that the sensitive sectors of India's economy, particularly agriculture and dairy, have been protected in the India-US trade deal.

Addressing a press conference here, Piyush Goyal said that PM Modi has always championed the agriculture and dairy sectors, safeguarding their interests and working tirelessly to ensure a bright future and ample opportunities for their workers.

"I am pleased that the entire country understands and appreciates this, and it resonates deeply with them. The sensitive factors of India's economy, particularly agriculture and dairy, have been protected. We have seen reports from across the country; there is widespread enthusiasm," Goyal said.

- ANI