Washington, Jan 5 . US President Donald Trump has warned India of possible tariff hikes over its continued imports of Russian oil, signalling that Washington is prepared to act swiftly and saying Prime Minister Narendra Modi is aware of his “displeasure” on the issue.
Speaking to reporters aboard Air Force One on Sunday (local time), Trump said Prime Minister Narendra Modi was aware of his displeasure over India’s energy trade with Moscow and suggested tariffs could be imposed “very quickly”.
“PM Modi’s a very good man. He’s a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly,” Trump said.
The warning comes as India and the United States are holding trade negotiations.
Trump’s remarks reflect growing scrutiny in Washington over India’s oil purchases from Russia, even as New Delhi has defended the imports as essential for ensuring energy security for its large population. The US has imposed 50 percent punitive tariffs on India
The warning follows a recent US military operation in Venezuela, during which President Nicolás Maduro and his wife were detained by the United States. The development has heightened global attention on oil geopolitics. Venezuela holds the world’s largest proven oil reserves, estimated at over 300 billion barrels, or roughly 17-18% of global reserves, according to OPEC data. However, production has fallen sharply to around 1 million barrels per day due to US sanctions, underinvestment, and the technical challenges involved in extracting and refining heavy crude oil.
Modi and Trump have spoken three times since Trump doubled tariffs on imports from India to as much as 50 pc, hitting exports of textiles, chemicals and food items such as shrimp. Modi described his conversation with Trump as “warm and engaging” and said both countries would continue to work together for global peace, stability and prosperity.
Trade negotiations between the two sides collapsed in late July after India resisted opening its market to US farm products and declined to acknowledge Trump’s role in mediating during an India-Pakistan conflict. Talks have continued since then.
In December 2025, US Deputy Trade Representative Rick Switzer held a two-day meeting with Indian officials in New Delhi as India pressed for relief from punitive tariffs linked to its Russian oil purchases. The US Trade Representative’s office declined to comment on the discussions.
Meanwhile, Trump has also hinted at imposing new tariffs on Indian rice imports, accusing India of dumping rice in the US market.
. .
