India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

Donald Trump was asked about India's argument that the US buys Russian uranium and fertilisers even as he criticises New Delhi for doing business with Moscow

But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand.