Trump-Putin Meeting / Relief for India on Russian oil! Trump's big statement after meeting with Putin

Trump-Putin Meeting: US President Donald Trump held an important meeting with Russian President Vladimir Putin in Alaska on Friday, August 16, 2025. The meeting mainly focused on the Russia-Ukraine war and related issues. Although no concrete consensus could be reached on a ceasefire in this meeting, positive progress was seen in some areas. After the meeting, Trump made a big statement, in which he denied the immediate need to impose new tariffs on countries importing Russian oil, especially India and China. This is a big relief news for India, which buys about 38% of its total crude oil imports from Russia.

New tariffs on hold for now

In an interview to Fox News, Trump said, "Looking at today's meeting, I think there is no need to think too much about tariffs right now." He also added that he might reconsider the issue after two to three weeks, but there are no plans to impose any new tariffs at the moment. The statement is significant for countries that import crude oil from Russia, especially India and China.

Trump also claimed that the tariffs already imposed on India played a key role in bringing Russia to the negotiating table. According to him, "When I told India that we will impose tariffs on you because you are buying oil from Russia, India stopped buying oil from Russia, after which Russia approached for talks." Trump described India as Russia's second-largest oil customer, which was getting closer to China.

India's firm stand on oil policy

Contrary to Trump's claims, India has flatly denied any change in its oil purchase policy. Indian Oil Corporation (IOC) Chairman A.S. Sawhney clarified that there is no ban on oil imports from Russia and the purchase will continue on purely economic grounds. India's Foreign Ministry has also termed Trump's tariffs as "unfair" and vowed to protect national interests.

According to a Times of India report, India has not only continued to import oil from Russia but has also increased the volume to 2 million barrels per day (bpd) in August 2025 from 1.6 million bpd in July. This increase has come at the cost of a reduction in imports from Iraq and Saudi Arabia. According to Kpler data, Russia is supplying about 38% of India's total oil imports.

Impact of tariffs and India's position

The Trump administration had already imposed an additional 25% tariff on India for Russian oil imports, which was recently increased to 50%. This additional tariff is set to come into effect from August 27, 2025 and could impact India's exports worth about $40 billion. India has strongly opposed the move, calling it "unreasonable and unwise".

However, Trump's statement that he is not considering new tariffs at the moment is seen as a temporary relief for India. This will not only help in maintaining India's energy policy but can also be helpful in reducing trade tensions with the US.

Global context of Trump-Putin meeting

The meeting in Alaska was mainly aimed at discussing the Russia-Ukraine war. Trump described it as "extremely fruitful", while Putin termed it "the beginning of a solution". Putin also suggested that the next meeting should be held in Moscow. Trump said that he would soon talk to Ukrainian President Volodymyr Zelensky and other European leaders to make progress towards a ceasefire.