Indian Reliance Industries will stop importing crude from Rosneft after the U.S. imposed sanctions on the Russian oil giant, causing oil prices to jump.

India and China’s largest refineries are looking at curbing purchases of Russian oil, as US sanctions on Russia’s largest oil companies reverberated through global energy markets yesterday.

U.S. trade talks collapsed earlier this year with New Delhi not agreeing to widen market access into its vast agricultural and dairy sectors.

India has seemingly pushed back against US President Donald Trump’s claim it had agreed to stop importing Russian oil in defiance of massive sanctions from Washington, signaling that an issue that has

Indian Prime Minister Narendra Modi said on Wednesday he had held a conversation with Donald Trump, with the US president saying the pair had discussed trade as the countries negotiate a deal that could mend strained ties.