USA Insists India Halt Russia Oil Purchases To Secure Trade Deal

India said it held “constructive meetings” with the United States this week on a trade deal, although Washington’s demand that New Delhi stop buying Russian oil is weighing on the negotiations. USA trade negotiators made it clear to their Indian counterparts that resolving the Russia issue was crucial to reducing India’s tariff rate and sealing a trade deal, a person familiar with the matter said, asking not to be identified because the discussions are private. While the negotiations this week were positive, they failed to yield any significant breakthroughs, the person said. An Indian team led by Commerce Minister, Mr Piyush Goyal offered concessions to the US officials including easing some restrictions on the import of genetically modified corn and offering to buy more American defense and energy goods, the person said. Goyal said Wednesday that India was willing to buy more energy goods from the USA “in the years to come.”

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