US president had slapped India with a punitive 25% tariff for buying Russian oil on top of a 25% ‘reciprocal’ tariff.

Kremlin Spokesman Dmitry Peskov was asked about US President Donald Trump's claim that Prime Minister Narendra Modi had agreed to stop buying Russian oil and switch to purchasing crude from the United States and,

The U.S. and India have finalized a trade deal on Monday after months of negotiations, steadying a relationship that had plummeted to its lowest point in decades.

India and the European Union have reached a free trade agreement that covers up to 2 billion people after nearly two decades of negotiations.

Peskov was responding to Trump’s claim that Modi had agreed to shift oil purchases from Russia to the United States and possibly Venezuela

India and the EU together represent almost one-fifth of global trade and around 25 per cent of the global population, highlighting the growing economic and strategic weight of the partnership.

At Davos, Ursula von der Leyen made India the centerpiece of her declaration of European independence. The president of the European Commission said that she was travelling to New Delhi to energize the relationship.

Brussels has accelerated its outreach to markets around the world. Over the past year, von der Leyen has signed deals with Japan, Indonesia, Mexico and South America under the catchphrase “strategic autonomy,” which in practice is akin to decoupling from a U.S. seen by most European leaders as erratic.

The 25% tariffs on Mexico were set to go into effect Tuesday, despite an existing free-trade agreement between the two countries that wasn't up for renegotiation until 2026. Trump signed the agreement during his first term.