India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand.

President Trump accused India of aiding Moscow’s war on Ukraine by purchasing Russian energy, derailing trade talks between India and the United States.