US Secretary of State Marco Rubio on Monday indicated that the proposed US-India trade deal was close to finalisation, saying Washington was working to conclude negotiations with New Delhi. Rubio, who is currently in Uzbekistan, is scheduled to visit Mumbai on Tuesday, where he will meet External Affairs Minister S Jaishankar, before travelling to Jamnagar later in the week.
“We’re trying to finalise a trade deal with India right now. We’re very close to doing that,” Rubio told reporters in Samarkand, Uzbekistan. His remarks come amid discussions in Washington over energy supplies, trade arrangements and the possible impact of sanctions linked to Russian oil and gas imports. Rubio also underlined India’s importance as a US ally, saying its energy requirements and the wider implications for global markets needed to be considered while framing foreign policy decisions.
Rubio links trade talks to energy and sanctions decisions
Speaking about the challenges of imposing sanctions and tariffs, Rubio said the United States had waived certain sanctions-related measures in recent months because of their potential impact on global supplies and prices. He said countries such as India had diversified their energy sources but continued to obtain a substantial amount of energy from Russia because shifting suppliers immediately was difficult.
“You’ve got countries like India, for example, that have voluntarily diversified their energy portfolio, but are still getting a substantial amount of energy from Russia because it’s hard to pivot from one day to the next. But they’re also an important ally and partner of the United States,” Rubio said.
He added that the US administration needed time to assess the effects of sanctions and tariffs on the global economy and the American economy before deciding on the appropriate approach.
Trump pauses sanctions-related tariffs on Russian oil buyers
Rubio’s remarks followed US President Donald Trump’s decision to waive certain sanctions-related measures under the Lindsey O Graham Sanctioning Russia and Iran Act. The law had provided for tariffs of up to 100 per cent on goods imported into the US from the five largest importers of Russian-origin crude oil or natural gas, including India and China. Trump invoked Section 115 of the legislation on Friday, authorising the President to waive the application of certain sanctions provisions and duties under the Act.
Rubio said the decision reflected the need to examine the wider economic consequences of sanctions and tariffs. He also referred to changing geopolitical conditions, including conflict involving Saudi Arabia and the Houthi militia, pressure on energy supplies around the Strait of Hormuz, and the continuing Russia-Ukraine war. According to Rubio, attacks on energy infrastructure and disruptions to supply routes were contributing to pressure on global energy prices.
India remains an important US energy partner
Rubio said India remained an important strategic partner whose energy needs had to be considered when determining trade and sanctions policy. He stressed that geography and the availability of alternative energy sources played a role in how countries responded to restrictions on Russian supplies.
The US Secretary of State said Washington was trying to balance national security considerations with the economic impact of restrictions on energy markets. He added that the administration was using the available period to assess the consequences of different policy options.
Rubio to meet Jaishankar in Mumbai
During his India visit, Rubio is scheduled to meet Jaishankar in Mumbai on Tuesday. Discussions are expected to cover the US-India strategic partnership, regional and global developments, and opportunities to strengthen energy cooperation. Rubio is also scheduled to travel to Jamnagar later in the week. The city is home to one of the world’s largest refining complexes.
His visit comes as both countries continue discussions on trade and energy cooperation. While Rubio described the trade deal as close to finalisation, he did not announce a formal agreement or provide a timeline for its completion. The proposed deal remains an important part of the broader economic engagement between the two countries, with energy supplies and the implications of sanctions on Russian oil among the issues shaping the discussions.
(With inputs from ANI)
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US Secretary of State Marco Rubio to visit India; energy, investment and strategic ties on agenda
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