Bessent said there is now “a path to take them [the extra 25 per cent] off” after Indian refiners sharply cut imports from Moscow. “We put 25 per cent tariffs on India for buying Russian oil, and the Indian purchases by their refineries… have collapsed,” he said. The 25 per cent Russian oil tariffs are still on. “They (trade talks with India) are going good, he stopped buying oil from Russia largely. After Trump claimed in October 2025 that Modi had “assured” him India would stop buying Russian oil, New Delhi dismissed the assertion, saying no such conversation had taken place.

Source: The Telegraph January 24, 2026 07:11 UTC