Marco Rubio, US Secretary of State, announced on Monday that the US is "very close" to finalising a trade deal with India. This statement was made during a press conference in Samarkand, Uzbekistan, where Rubio suggested that the waiver from tariffs for purchasing Russian oil was linked to the ongoing negotiations.

Key Statements

"We're trying to finalise the trade deal with India right now. We're very close to doing that. So that's one of the things we take into consideration when the President makes a decision about national security waivers and things of that nature," Rubio told reporters.

Upcoming Meetings

Rubio is scheduled to travel to India to meet with External Affairs Minister S. Jaishankar in Mumbai. The discussions will cover a range of topics, including:

  • Energy
  • Trade
  • Defence
  • Critical and emerging technologies
  • Other key areas of bilateral cooperation

Context of Oil Purchases

Rubio acknowledged the complexities surrounding India's continued purchase of oil from Russia, especially in light of the Sanctioning Russia and Iran Act passed in September. He stated, "You also can't unravel the economy of other countries because of one central issue. So that's the complex part of having to balance all of this."