US President Donald Trump on Friday welcomed reports that India may have stopped buying oil from Russia, calling it a "good step," even as he admitted he was unsure about the accuracy of the information.

"Well, I understand India is no longer going to be buying oil from Russia. That's what I heard. I don't know if that's right or not, but that's a good step. We'll see what happens," Trump told reporters.

Trump has been pressuring India to halt Russian oil imports. This could impact billions of dollars in Russian revenue and potentially spark retaliation from Moscow, such as shutting down a major US-led pipeline project. India, the world's third-largest oil importer, has emerged as Russia's biggest oil customer since 2022, buying up to 2 million barrels per day, roughly 2 per cent of global supply. China and Turkey are also among the top buyers.

Trump's remarks came a day after the White House announced new tariffs on exports from about 70 countries, including a 25 per cent tariff on Indian goods. While the executive order did not specify additional penalties, Trump has previously warned India could face consequences for its defence and energy ties with Russia.

Analysts at JP Morgan noted this week that India's role in Russia's oil trade is so significant that any disruption could trigger a response from Moscow, possibly involving the shutdown of the CPC pipeline from Kazakhstan. US oil majors Chevron and Exxon hold significant stakes in the project. "Russia is not without leverage," JP Morgan said in a note.

Trump has also threatened to impose tariffs of up to 100 per cent on countries that continue buying Russian oil unless Moscow agrees to a peace deal with Ukraine between August 7 and 9. The 25 per cent tariff on Indian imports took effect on Friday. On Thursday, Reuters reported that Indian state-run refineries had paused purchases of Russian oil this week amid rising pressure from Washington.

MEA: Oil sourcing guided by market conditions
At the weekly press briefing, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal was asked whether Indian oil firms had indeed halted Russian oil purchases.

"As far as sourcing India's energy requirements is concerned, we take decisions based on the price at which oil is available in the international market and depending on the global situation at that time. As for the specifics of your particular question, I am not aware of it. I don't have details of these specifics," Jaiswal said.

Trump slams India's trade barriers, defence ties with Russia
Despite referring to India as a "friend," Trump launched a scathing attack on the country's trade policies. "India has among the highest tariffs in the world and some of the most strenuous and obnoxious non-monetary trade barriers," he said.

He also criticised India's continued reliance on Russian military hardware and energy imports, saying it undermines global efforts to isolate Moscow over the war in Ukraine. "India has always bought a vast majority of its military equipment from Russia and remains one of their top energy clients, along with China. All things are not good!"

In a sharply worded post on his platform, Truth Social, Trump added: "I don’t care what India does with Russia. They can take their dead economies down together, for all I care. We've done very little business with India... Let's keep it that way."

(With inputs from Reuters, PTI)