Trump Sanctions Russian Oil Firms, Warns India

President Donald Trump announced sweeping sanctions this week targeting Russia’s top oil firms Rosneft and Lukoil and said Prime Minister Narendra Modi personally assured him India would sharply reduce—and ultimately nearly stop—Russian oil purchases by year-end, a claim New Delhi has publicly denied while stressing it prioritizes stable prices and supplies. Washington has applied punitive tariffs of roughly 50% on certain Indian imports tied to India's crude purchases even as intense negotiations continue on a potential US‑India trade deal that sources say could cut U.S. tariffs on Indian goods to about 15–16% in exchange for energy cooperation and expanded U.S. agricultural access (notably non‑GMO corn and soymeal), with mechanisms for periodic review. Trump said he will press Chinese President Xi Jinping on Beijing’s energy ties with Russia and warned of heavy tariffs if agreements are not reached, framing these measures as part of broader efforts to pressure Moscow over the war in Ukraine. U.S. officials portray reduced Russian oil purchases as an economic lever on Moscow, while India says higher Russian crude imports since 2022 were for energy security and denies they fund Russia’s war. The U.S. ambassador to Malaysia said tariffs, trade, semiconductor investment and regional security are expected topics during Trump’s upcoming visit to Kuala Lumpur.