Russia faces a steep drop in oil income if United States President Donald Trump successfully pressures India to stop importing Russian crude, because losing its top purchaser of seaborne exports would force Moscow to slash prices to find other buyers, analysts and traders said.
Trump on Monday cut US tariffs on Indian goods in a trade deal he said also included provisions for India to halt oil imports from Russia, the world’s second-biggest oil exporter. The US is also putting pressure on Russia to agree to a peace deal in Ukraine.
Trump has over the past year already claimed that Indi
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