Dawn
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13:27 Feb 04, 2026
Russia faces a steep drop in oil income if United States President Donald Trump successfully pressures India to stop importing Russian crude, because losing its top purchaser of seaborne exports would force Moscow to slash prices to find other buyers, analysts and traders said. Trump on Monday cut US tariffs on Indian goods in a trade deal he said also included provisions for India to halt oil imports from Russia, the world’s second-biggest oil exporter. The US is also putting pressure on Russia to agree to a peace deal in Ukraine. Trump has over the past year already claimed that Indian Prime Minister Narendra Modi agreed to stop buying Russian oil. India never halted imports, however, citing its need for energy security and for cheap oil. The Kremlin says energy cooperation with India, its second-largest oil buyer after China, is strong after Russian President Vladimir Putin visited the country in December 2025. But Indian refiners are taking a cautious approach to Russian oil purchases, which is already hu...