Archana Shukla

But apart from that, the fine print of the deal is really missing.

While President Trump says India will stop buying Russian oil, that India will also cut tariff on American goods to zero.

None of this is actually confirmed by New Delhi.

If we talk about the Russian oil purchases, India and Russia are long-term allies.

And it's unlikely that India will completely cut down its Russian oil purchases.

One, because it's also cheap.

And secondly, because of the long-standing relations.

And even from the geopolitical lens, Beijing, Delhi, Moscow, they've literally deepened their ties after the sweeping tariffs came into effect.

So from that perspective, it seems unlikely that such sort of major deal has been struck where India would say they would cut Russian oil supplies completely or bringing it down to zero tariffs as far as agriculture and dairy is concerned, which are really very politically sensitive sectors in India.

And hence, many experts who are looking at some of the sketchy details that are still emerging say,

They feel that right now what we should position this as just political signals, a truce coming through, but not really a full trade deal in picture.

Thank you, Nick.

So far, no, Paul, there has been no word around any deal on oil purchases.

And right after President Trump's Truth Social post announcing this trade deal, the fact that India will be buying $500 billion worth of American goods or that India would reduce tariff to zero for all American products and also stop buying Russian oil and instead buy more from U.S.

Paul, it seems unlikely that India will completely cut down on Russian oil for two main reasons.

One, it's cheap for India's import bills.

Beijing, Delhi and Moscow have actually strengthened their ties.

So completely cutting down on Russian oil may not really be on the cards.

But yes, the purchases have come down.

And in fact, over the last few months, India has bought more oil from the US.