Reality check for Trump! Why blame India for Russian crude trade? US, EU trade with Russia runs in billions

US President Donald Trump has again slammed India for its continued purchase of crude oil and arms from Russia. In a Truth Social post on Monday, Trump said, “India buys most of its oil and military products from Russia, very little from the US.

”The US has imposed a 25% additional tariff on India for its crude oil trade with Russia, accusing India of indirectly financing the war with Ukraine. But, the interesting thing to note is that both America and the European Union continue to do trade worth billions of dollars with Russia, albeit significantly reduced compared to pre-war levels.Indeed, Russian President Vladimir Putin during his visit to Alaska for a meeting with Trump noted that trade with the US has jumped 20%!Despite a 90% reduction in US-Russia trade following Russia's war with Ukraine, the United States continued to import goods worth $3 billion from Russia last year, as confirmed by data from the US Bureau of Economic Analysis (BEA) and Census Bureau quoted in a CNN report.Also Read | ‘Modi’s war’? How US, EU are 'fuelling', funding Russia-Ukraine conflictThe European Union, whilst supporting American sanctions against Russia, imported goods valued at $41.9 billion (36 billion euros) from Russia in 2024, according to the bloc's statistical agency.

Reality check for Trump: How much does the US import from Russia?

According to the CNN report quoting US Census Bureau statistics data, the United States received fertiliser imports valued at $927 million during January-June this year. Russian fertiliser imports to the US exceeded $1 billion last year.

The US significantly depends on Russia for three chemical fertiliser varieties: urea, urea ammonium nitrate (UAN) and potassium chloride muriate of potash (potash)."Unless the US sanctions Russian fertilizer imports, as it does with Belarusian potash, this (level of trade) is likely to continue," Allan Pickett, head of fertilizer analysis at S&P Global Commodity Insights was quoted as saying by CNN. "Russia remains one of the most important global fertilizer suppliers and the influence of it has not diminished since 2022.""Urea and potash could be readily sourced from elsewhere, although with potash it would further increase US dependence on Canada, which currently has an interesting trade dynamic," Pickett added.

Whilst palladium imports from Russia have decreased notably since 2021, the US imported $878 million worth in 2024 and $594 million worth through June 2025. This silvery metal is essential for electronic and industrial products, particularly in vehicle catalytic converters.Uranium and plutonium imports from Russia to the US reached $755 million in the first half of this year, according to Census data. The previous year's imports of these nuclear materials from Russia totalled $624 million.

How much does the European Union import from Russia?

Russia's position as the EU's primary petroleum supplier changed following its war with Ukraine. Maritime Russian oil and refined products imports faced EU restrictions, causing a significant decline to $1.72 billion in the first quarter of 2025, compared to $16.4 billion in the same period of 2021, as per Eurostat figures quoted in the CNN report.According to the Centre for Research on Energy and Clean Air's analysis, in July 2025, Hungary, France, Slovakia, Belgium and Spain emerged as the principal European importers of Russian fossil fuels. Hungary and Slovakia dominated crude oil imports, whilst others primarily imported liquefied natural gas.

Natural gas imports from Russia showed an increase in value over four years due to price rises, reaching $5.23 billion in 2025's first quarter, according to Eurostat.

The EU reduced Russia's share in liquefied natural gas imports from 22% to 19% between 2021 and 2025, whilst increasing American imports substantially.Russian iron and steel imports to the EU decreased considerably. First quarter 2025 figures showed imports worth $850 million, approximately half the value from the same period in 2021, as Eurostat reports.Fertiliser imports from Russia remained relatively stable since 2021, unaffected by sanctions and import duties.

EU nations imported Russian fertiliser worth $640 million in 2025's first quarter.

The EU diversified its nickel sourcing, increasing imports from the United States, Norway, the United Kingdom and Canada. Nevertheless, Russian nickel imports totalled $300 million in the first quarter of 2025. Nickel serves primarily in stainless steel, alloy steel and battery production.While the EU's trade with Russia has reduced, it is important to note that it has not stopped.Also Read | 'Social Truth' vs data: What Trump doesn’t get about India’s 'dead' economy

The big oil question: How much crude do India and China get from Russia?

India's trade with Russia has seen a dramatic surge, with imports reaching $67 billion in 2024, as per United Nations data. The majority, approximately $53 billion, consisted of petroleum oils and crude oil. This marks a significant increase from 2021's figure of $8.7 billion in total imports before the conflict began.According to Vortexa, an energy data firm, Russian oil currently dominates India's market with a 36% share, establishing Russia as India's primary crude oil supplier.

This substantial growth in oil and gas imports occurred following the commencement of hostilities.Similarly, China increased its Russian crude oil purchases after 2022, taking advantage of reduced prices resulting from Western nations curtailing their Russian fuel imports. Vortexa data indicates that Russian oil comprises 13.5% of China's crude imports. UN-aggregated figures show China's total Russian imports reached $130 billion in 2024, with petroleum oils and crude accounting for $62.6 billion.

Both India and China have maintained that the source of crude oil procurement is a matter of strategic autonomy. In response to Trump’s additional 25% tariffs on India for its crude oil trade with Russia, the ministry of external affairs has said, “The United States has in recent days targeted India’s oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.

It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests.”Also Read | India's holdings of US Treasury bill down! Gold finds favour in forex reserves; still among top 20 T-bills investors