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Trump Rescinds Punitive Tariff on India Over Purchases of Russian Oil

Business & Policy
February 7, 2026

(Reuters) – President Donald Trump signed an executive order on Friday rescinding a punitive 25% duty on all imports from India over its purchases of Russian oil, the White House said.

Trump on Monday announced a trade deal with India that slashed U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers.

India relies heavily on oil imports, covering around 90% of its needs, and importing cheaper Russian oil has helped lower its import costs since Moscow invaded Ukraine in 2022 and Western nations enacted sanctions on its energy exports.

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Recently India has begun to slow its purchases from Russia. In January, they were around 1.2 million barrels per day, and are projected to decline to about 1 million bpd in February and 800,000 bpd in March, according to a Reuters report.