Graphic Truth

Graphic Truth: India dismisses Trump’s threats on Russian oil

Lizzy Yee

India has said it will continue purchasing Russian oil, despite US President Donald Trump announcing a 25% tariff and threatening an “unspecified penalty” for doing so last week. New Delhi has ramped up its purchases of discounted Russian crude since US and European sanctions against Moscow took effect in 2022 over the Kremlin’s invasion of Ukraine. But those imports are now in Washington’s crosshairs as Putin continues to ignore Donald Trump’s demands for peace talks with Kyiv. Officials in Delhi defended their position – citing the country’s energy needs – but White House Deputy Chief of Staff Stephen Miller accused India of “financing” Russia’s war in Ukraine. Here’s a look at how important India’s purchases of Russian oil are for both countries.

More For You

Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.

President Donald Trump delivers an address to the nation from the Diplomatic Reception Room of the White House, in Washington, D.C., U.S. Wednesday, Dec. 17, 2025.
Doug Mills/Pool via REUTERS

Less than one day after US President Donald Trump declared a military blockade of sanctioned oil tankers from Venezuela, he addressed the nation during a rare primetime speech – but didn’t talk about Venezuela.