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40m ago

U.S.–India Trade Talks Enter Final Stretch as Russian Oil Standoff Keeps 50% Tariffs in Place

Officials signal a near-term resolution centered on reducing purchases from Moscow.

EAM S. Jaishankar at G20 Foreign Ministers’ Meeting in New York | Image: @DrSJaishankar
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Overview

  • India’s negotiating team returned from meetings with USTR Jamieson Greer as Piyush Goyal stayed on in the U.S., with both sides describing the engagement as productive.
  • Senior U.S. officials acknowledged turbulence but said ties remain on a positive trajectory, with a Modi–Trump meeting expected and no U.S. mediation planned on Kashmir.
  • Energy Secretary Chris Wright urged New Delhi to stop buying Russian crude, and Treasury Secretary Scott Bessent predicted India would slowly wean itself off those imports.
  • Negotiators identify Russian oil purchases as the chief hurdle to a trade deal, with any agreement likely requiring a reduction, while H‑1B visa fee issues are being handled separately.
  • Piyush Goyal said India expects to expand energy trade with the U.S., including LNG and nuclear cooperation, even as Prime Minister Narendra Modi reaffirmed India’s long-standing partnership with Russia.