White House doubles down on Trump’s claim as Kremlin says no oil exit signal from India yet

The White House on Tuesday welcomed a new trade agreement with India, claiming Prime Minister Narendra Modi has committed to ending purchases of Russian oil, increasing energy imports from the United States, and investing $500 billion across key American sectors.

However, Russia has denied receiving any such statement from India regarding the halting of Russian oil purchases, Kremlin spokesman Dmitry Peskov said. Peskov also said that Russia intends to continue developing its relations with India in every possible way, according to Russian media reports.

White House Press Secretary Karoline Leavitt said the deal, announced by President Donald Trump a day earlier, would deliver direct economic benefits to the US and its consumers.

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India to shift energy purchases, invest $500 billion: White House

Speaking to reporters, Leavitt claimed India had agreed to stop buying Russian oil and instead source energy from the US, and potentially from Venezuela as well. “India committed to not only no longer purchasing Russian oil, but buying oil from the United States, also perhaps from Venezuela too, which will now have a direct benefit on the US and American people,” she said.

Leavitt added that PM Modi had also pledged major investments in the US economy, with $500 billion set to flow into sectors including energy, transportation and agricultural products.

Calling it a significant achievement, Leavitt said the agreement reflected the Trump administration’s push to secure tangible economic gains from major trading partners. “As you all saw yesterday, President Trump struck another great trade deal, with India,” she said.

US Trade Representative Jamieson Greer said the deal strikes a balance between maintaining some tariff protections while opening Indian markets to American exporters. “We’ll continue to maintain some level of tariff against India,” Greer said, adding that New Delhi had agreed to lower tariffs on a range of agricultural products, manufactured goods, chemicals and medical devices.

Greer clarified that India would retain safeguards for key agricultural sectors, noting that every country, including the US, protects certain sensitive areas. “They will continue to control that,” he said.

Earlier on Monday, President Trump announced that the US and India had agreed to a trade deal under which Washington would reduce reciprocal tariffs on Indian goods from 25 per cent to 18 per cent. In a Truth Social post, Trump said the move was made “out of friendship and respect” for Prime Minister Modi, whom he described as a powerful and respected leader.

Responding to the announcement, Prime Minister Modi said it was wonderful to speak with his “dear friend President Trump” and welcomed the reduced tariff for Indian exports. “Delighted that Made in India products will now have a reduced tariff of 18 per cent,” PM Modi wrote on X.

Meanwhile, Commerce and Industry Minister Piyush Goyal said India’s sensitive economic sectors, particularly agriculture and dairy, have been protected under the deal. Addressing a press conference on Tuesday, Goyal said PM Modi has consistently prioritised the interests of farmers and dairy workers, adding that there was widespread enthusiasm across the country over the agreement.