The U.S. president said on Wednesday that India has committed to stop buying Russian oil, describing it as “a big step” and adding that the shift cannot happen “immediately” but will conclude soon.

India, emphasizing stable prices and secure supply, referenced long-running efforts to broaden energy sources without explicitly naming Russia.

What Was Said — And How India Framed It

“I was not happy that India was buying oil, and he assured me today that they will not be buying oil from Russia,” the U.S. president said, calling it “a little bit of a process” that would end soon. He added he now wanted to persuade China to take a similar step.

India, for its part, underlined that it has steadily expanded procurement from a variety of suppliers to ensure energy security and price stability, a formulation that avoided direct confirmation of any immediate halt.

Trade Pressure And Market Signals

The announcement follows a summer escalation in tariffs targeting India over continued purchases of Russian crude, with an additional 25% levy layered on top of an earlier 25% measure.

Oil markets reacted with a modest bounce: Brent rose roughly 1% after the comments and then hovered just above $62 a barrel, still near recent lows amid surplus concerns.

The Scale Of The Shift — And What Comes Next

Russia has been India’s top crude supplier in recent months, with shipments around 1.6 million barrels per day — roughly one-third of India’s imports — making any rapid wind-down complex. The U.S. has also floated expectations that other Asian buyers reduce exposure, while the price-cap regime on Russian oil and debates over a looming global surplus continue to shape flows.

Markets will watch whether India offsets volumes with alternative suppliers, including potential increases in U.S. crude purchases.