India and Japan to Cease Buying Russian Oil, Trump Asserts
United States President Donald Trump has claimed that Prime Minister Narendra Modi of India has assured him the country will cease purchasing oil from Russia. This comes amid the US led efforts to isolate Russia economically. Trump also stated that the US would persuade China to follow suit. In related developments, the US Treasury Secretary Scott Bessent has expressed the Trump administration's expectation that Japan will stop importing Russian energy.
Background and Context
Trump's declarations follow a period of tension between the US and India over the latter's Russian oil purchases. Recently, punitive tariffs of 50% were imposed by the US on Indian exports to the US in response to the oil trade between India and Russia. The US has also targeted Japan, another large importer of Russian energy.
Key Developments
President Trump was emphatic about Prime Minister Modi's commitment, stating that the process of transitioning away from Russian oil has begun and will soon be completed. However, there has been no official confirmation from Delhi so far, as reported by BBC News. Trump also mentioned bringing China into the fold, but no additional details were provided.
Simultaneously, the US has turned its attention to Japan, a significant importer of Russian energy. Treasury Secretary Bessent, in a meeting with Japanese Finance Minister Katsunobu Kato, stated the Trump administration's expectation that Japan stop importing Russian energy. This discussion took place on the sidelines of the annual International...
Despite Russia's Sakhalin-2 project being vital to Japan's energy security, accounting for about 9% of its liquefied natural gas imports, Minister Kato responded stating, "Japan will do what it can based on the basic principle of coordinating with G7 countries to achieve peace in Ukraine in a fair manner.”
Implications and Reactions
The timing of these events is significant, as they come in the wake of the UK imposing sanctions on Gujarat’s Nayara Refinery, shortly after UK Prime Minister Keir Starmer led a large trade delegation to Mumbai. The move appeared to mark a new high in UK-India relations.
The US's push for India and Japan to stop purchasing Russian oil marks a significant development in the ongoing economic isolation of Russia. However, the absence of an official confirmation from India and the careful response from Japan suggest that the situation is still fluid.
Current Status
As it stands, the US continues its efforts to dissuade countries from purchasing Russian oil and energy. The recent focus has been on India and Japan, two of the largest importers of Russian energy. The outcomes of these diplomatic efforts carry significant implications for international relations and the global energy market. As the situation evolves, the international community is closely watching the responses from India and Japan.