US riders for trade deal: Cut Russian oil, import American

Indian negotiators set to remain in Washington through this week to try and break logjam

- Dhirendra Kumar

India's crude oil imports from the US averaged around 310,000 bpd during April-August, up 80% from a year ago, according to Kpler Analytics data.

(BLOOMBERG)

The US has asked India to give an assurance, possibly in writing, that it will taper its purchases of Russian oil, and boost imports of American crude before a trade deal between the two nations can be finalized, according to two people aware of the matter.

The Indian team of negotiators is currently in Washington and is scheduled to remain there through this week to try and break the logjam over trade discussions. Earlier this month, assistant US trade representative Brendan Lynch visited New Delhi to bring the talks back on track, stalled after President Donald Trump imposed 50% tariffs on Indian exports, including a punitive 25% for New Delhi's purchases of discounted Russian oil.

The American side prefers a comprehensive agreement, covering goods, services and investments in one go, rather than taking a sector-by-sector approach, the people cited earlier said on the condition of anonymity.