India is going full speed on expanding oil and gas imports from the United States, even as President Donald Trump keeps hitting the country with trade penalties for sticking with Russian crude. Commerce Minister Piyush Goyal said during a stop in New York that India plans to deepen energy trade with Washington, calling the U.S. a “natural partner” and saying the country’s energy strategy would include a strong American presence. The trip comes at a time when New Delhi is trying to get Trump to cut tariffs and restart a stalled trade deal. The push to buy more U.S. energy comes just weeks after Trump hammered Indian exports with a 50% tariff , accusing it of helping to fund Vladimir Putin’s war in Ukraine. The White House has argued that discounted Russian oil is bankrolling the conflict, and India, being the largest buyer of Russian seaborne crude since the invasion began, is in the hot seat. Still, Goyal says increased American oil imports will help close the trade gap and keep negotiations moving. Trump blocks exports and adds visa fee while India leans harder on energy Trade talks had been warming up after Trump called Prime Minister Narendra Modi to wish him a happy birthday. But any thaw quickly froze over again when Washington imposed a $100,000 visa fee on the H-1B program, which is mostly used by Indian tech workers. The visa hike landed hard, especially since it came during what was supposed to be a diplomatic reset. Goyal kept his focus on energy, saying the U.S. has a “crucial role” in helping India reduce its dependency on single sources and bring more stability to its energy supply. With oil demand still surging, New Delhi is trying to mix long-term strategy with short-term survival, using both Russian discounts and American ties to stay ahead. Trump had added another 25% tariff specifically tied to India’s ongoing Russian oil purchases. Zelenskyy points at energy gap, Ambani pulled into the spotlight Ukrainian President Volodymyr Zelenskyy also weighed in this week, telling Fox News during the 80th United Nations General Assembly that India is “mostly” aligned with Kyiv. He admitted the energy link to Moscow is still a sticking point, saying, “I think we have to do everything not to withdraw Indians, and they will change their attitude to the Russian energy sector.” Zelenskyy added that Trump could manage the situation, noting that Europe is also working to tighten relations with India. Meanwhile, U.S. Treasury Secretary Scott Bessent lit another fire under the story when he said on air that “some of the richest families in India” were benefitting from the war. He didn’t name anyone, but it didn’t take long before all eyes turned to Mukesh Ambani. With a net worth of over $100 billion, Ambani’s Reliance Industries is everywhere—telecoms, retail, and most importantly, oil. The company’s refining arm has bought $33 billion worth of Russian crude since February 2022, making up around 8% of Russia’s total oil sales during the full-scale invasion. That puts Ambani and Reliance right at the center of the energy triangle—fueling domestic demand, sending products abroad, and keeping Moscow’s oil cash flowing despite global isolation. Join Bybit now and claim a $50 bonus in minutes
