• India is pressing the US to allow oil imports from Iran and Venezuela.
• Trade agreements hinge on India curbing Russian crude oil purchases.
• US has imposed a 25% tariff on Indian crude oil imports from Russia.

India is currently facing a 25% additional tariff on its crude oil trade with Russia, prompting its officials to seek permission from the US to import oil from Iran and Venezuela. This move comes as the nation has significantly increased its dependence on discounted Russian oil since the onset of the Ukraine conflict, which has made Russian supplies more cost-effective for India, accounting for nearly 90% of its oil needs. According to Indiatimes.

Reports indicate that US trade negotiators have stressed that reducing Russian oil imports is critical for progress in trade discussions between the two countries. President Trump has linked trade negotiations to demands that India limits its purchases of Russian crude to alleviate the economic pressures on Moscow and address US concerns over trade imbalances. More discussions are necessary to tackle these issues, according to Dawn and Reuters.

The Indian delegation recently visited the US for trade talks wherein they reiterated their stance towards maintaining a balance between Russian oil imports and seeking additional energy supplies from the US, which included proposals to increase purchases of American defense and energy products. Commerce Minister Piyush Goyal indicated that while India values its energy security, the need for diverse imports is essential to avoid global price surges from a lack of access to Russian, Iranian, or Venezuelan oil sources. This position was also highlighted by the officials during their discussions with the Trump administration, according to Indiatimes, Dawn, and Reuters.