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US will ‘sort out’ trade deal with India after it stops buying Russian oil – commerce secretary US will ‘sort out’ trade deal with India after it stops buying Russian oil – commerce secretary
(about 8 hours later)
Howard Lutnick has called on New Delhi to open its markets and refrain from importing crude from RussiaHoward Lutnick has called on New Delhi to open its markets and refrain from importing crude from Russia
US Commerce Secretary Howard Lutnick has said that Washington will “sort out” a trade deal with India after New Delhi stops buying Russian oil and opens up its market.US Commerce Secretary Howard Lutnick has said that Washington will “sort out” a trade deal with India after New Delhi stops buying Russian oil and opens up its market.
Lutnick's comments come a few days after US President Donald Trump and Indian Prime Minister Narendra Modi confirmed that Washington and New Delhi are continuing their trade talks, and expressed optimism that the negotiations would conclude soon.  Lutnick’s comments come a few days after US President Donald Trump and Indian Prime Minister Narendra Modi confirmed that Washington and New Delhi are continuing trade talks, and expressed optimism that the negotiations would conclude soon. 
“We're going to sort out India,” Lutnick said in an interaction with CNBC on Thursday. “You know, India basically has to open their market, has to stop buying Russian oil.” He reiterated his earlier claims that New Delhi had not been purchasing oil from Moscow prior to the Russia-Ukraine war. “So, they're buying it, refining it, and then selling it to the rest of the world and making a bundle. So, the president (Trump) called nonsense on that and said you got to stop that stuff. So, I think India we'll sort it out once they stop buying Russian oil”, he said. “We’re going to sort out India,” Lutnick said in an interaction with CNBC on Thursday. “You know, India basically has to open their market, has to stop buying Russian oil.”
He reiterated his earlier claims that New Delhi had not been purchasing oil from Moscow prior to the Ukraine conflict.
“So, they’re buying it, refining it, and then selling it to the rest of the world and making a bundle. So, the president [Trump] called nonsense on that and said you got to stop that stuff. So, I think India, we’ll sort it out once they stop buying Russian oil,” Lutnick said.
Russia has emerged as a key oil supplier to India since the escalation of the Ukraine conflict in February 2022 – accounting for nearly 40% of India’s crude imports. In parallel, India has become a major exporter of refined fuels to Europe since 2023.Russia has emerged as a key oil supplier to India since the escalation of the Ukraine conflict in February 2022 – accounting for nearly 40% of India’s crude imports. In parallel, India has become a major exporter of refined fuels to Europe since 2023.
Last month Washington imposed a 25% penal tariff on most Indian imports, for New Delhi’s imports of Russian crude. This was in addition to the 25% imposed on the South Asian nation when India and the US failed to arrive at a trade deal in early August. Last month, Washington imposed a 25% penal tariff on most Indian imports, for New Delhi’s imports of Russian crude. This was in addition to the 25% imposed on the South Asian nation when India and the US failed to arrive at a trade deal in early August.
On Thursday, at a Senate hearing, Trump's nominee for ambassador to India, Sergio Gor, voiced similar sentiments on New Delhi’s oil trade with Moscow.  On Thursday, at a Senate hearing, Trump’s nominee for ambassador to India, Sergio Gor, voiced similar sentiments on New Delhi’s oil trade with Moscow.
🇺🇸 "Hold Friends to Different Standards, Expect More from India"Trump's India envoy Sergio Gor says situation with 🇮🇳 will be solved in coming weeks. pic.twitter.com/ZIuJnMrJLK🇺🇸 "Hold Friends to Different Standards, Expect More from India"Trump's India envoy Sergio Gor says situation with 🇮🇳 will be solved in coming weeks. pic.twitter.com/ZIuJnMrJLK
“President Trump has been crystal clear on this. They [India] must stop buying Russian oil,” he said, while adding that trade issues are likely to be resolved over the next few weeks. “President Trump has been crystal clear on this. They [India] must stop buying Russian oil,” he said, while adding that trade issues are likely to be resolved over the next few weeks. 
“Look, we hold our friends to different standards,” Gor said. “We expect more from India than we do from other nations.”“Look, we hold our friends to different standards,” Gor said. “We expect more from India than we do from other nations.”