India Pledges to Halt Russian Oil Imports as Trump Secures $500B Trade Deal and Removes Tariffs

$500B in purchases over 5 years would require roughly a 500% increase over current U.S. exports to India

U.S.-India goods trade deficit was $45.7 billion in 2024, with total bilateral trade at $212.3 billion

Russia supplied 36% of India's crude oil imports in 2024–25, up from less than 1% before the 2022 invasion of Ukraine

India's Nifty 50 opened 5% higher on the deal announcement but closed at 2.5% gains on February 3, 2026

India is the world's 3rd-largest oil consumer at 5.6 million barrels/day and imports 87% of its crude