More Stories

Informist, Monday, Jan. 5, 2026

 

NEW DELHI – The Indian National Congress Monday accused Prime Minister Narendra Modi of sacrificing the country's interests for the sake of his personal relations with world leaders. The allegation came after a video of US President Donald Trump surfaced on social media in which Trump is heard saying India cut down crude oil purchases from Russia because "Modi knew I wasn't happy" (with India buying oil from Russia) and that "we can raise tariffs on them very quickly".

 

"Was the decision to reduce Russian oil imports taken to appease Trump? Is India's foreign policy now being dictated by the United States?" the Congress asked in a post on social media platform X. "Why should the nation pay the price for Modi's weakness?"

 

In the video clip recorded aboard Air Force One, Trump is heard telling journalists, "They wanted to make me happy basically. Modi is a very good man... He knew I wasn't happy, and it was important to make me happy. They do trade and we can raise tariffs on them very quickly."

 

In the same clip, US Senator Lindsey Graham, Republican from South Carolina, who was accompanying Trump, is heard saying, "I was at the Indian ambassador's house about a month ago and all he wanted to talk about is how they are buying less Russian oil. Would you tell the President to relieve the tariff... I really do believe that what he did with India (by imposing punitive tariffs) is the chief reason India is now buying substantially less Russian oil."

 

Keeping up the attack, the Congress, in a separate post, said it was evident from the senator's statement that Modi had cut down on crude oil purchases from India's all-weather friend Russia only to please Trump. "Why is Modi hurting nation's interests for the sake of his personal relations and keeping Trump happy," the party asked.

 

The US has imposed 50% tariff on goods imports from India, of which 25% is a punitive tariff for buying crude oil from Russia and "funding the Russian war machine against Ukraine". According to a Reuters report quoting government sources Friday, Russian crude oil imports to India may dip below one million barrels per day.

 

Data from global trade analytics firm Kpler Wednesday showed India's crude oil imports from Russia slumped almost 35% in December. In November, according to commerce ministry figures, imports of crude oil from Russia had averaged 1.84 million barrels a day, a six-month high. India became a major buyer of discounted Russian crude oil following the outbreak of the Russia-Ukraine war in February 2022.  End

 

US$1 = INR 90.27

 

Reported by Asim Khan

Edited by Rajeev Pai

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.