'India committed to stop buying Russian oil': White House at it again

India-US trade deal: United States President Donald Trump on Monday, February 2, announced the long-awaited trade deal with New Delhi, reducing tariff rates on Indian exports from 25 per cent to 18 per cent and presumptively scrapping the additional 25 per cent punitive tariff.Just a day after that, the White House has hailed a new trade agreement with India, saying the country has committed to “no longer” purchasing Russian oil, with Prime Minister Narendra Modi also agreeing on investments of USD 500 billion across key American sectors, news agency PTI reported."The President struck another great trade deal with India. He spoke with Prime Minister Modi directly. They share a very good relationship. India is committed to not only no longer purchasing Russian oil, but buying oil from the United States, also perhaps from Venezuela too, which we know will now have a direct benefit on the United States and the American people,” White House Press Secretary Karoline Leavitt was quoted as saying by PTI.Meanwhile, government official sources told ET NOW that the India-US agreement covers data centre equipment, advanced AI chips and civil nuclear cooperation, while safeguarding India’s economic interests.India-US Trade Deal: What PM Modi SaidPrime Minister Narendra Modi said it was wonderful to speak with his "dear friend" Trump. "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 said in a statement."When two large economies and the world's largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump's leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights," PM Modi added.India-US Trade TiesIndia's merchandise exports to the US declined 1.83 per cent to USD 6.88 billion in December 2025 due to high tariffs imposed by America, according to Commerce Ministry data. Exports also contracted in September and October last year. However, it rose 22.61 per cent in November. Imports grew 7.57 per cent to USD 4.03 billion in December 2025.During the April-December period of this fiscal year, the country's exports to the US increased 9.75 per cent to USD 65.87 billion, while imports rose 12.85 per cent to USD 39.43 billion.