U.S. President Donald Trump had imposed 25% punitive tariffs on India for buying Russian oil, with the administration asserting that Delhi’s purchases were helping fuel Russia’s war against Ukraine. Last month, the U.S. and India announced they had reached a framework for an Interim Agreement on trade, and Trump issued an Executive Order removing the 25% punitive tariffs on India, noting the commitment by New Delhi to stop importing energy from Moscow and increase purchasing of American energy products.
India has been continuously reducing Russian oil imports and had instead sourced more from the Gulf countries and the U.S. in January 2026, the latest official data shows, with Russia’s share in India’s oil imports falling to less than 20% for the first time since May 2022.
However, the potential trade deal with the U.S. — allegedly the main reason for India reducing cheap Russian oil imports — is currently in limbo following the U.S. Supreme Court’s February 20 decision striking down that country’s reciprocal tariffs.