US President Donald Trump on Friday claimed Russia lost India as one of its oil clients after Washington imposed a penalty on New Delhi over the purchases, and warned against the possibility of a similar sanction on Moscow with "devastating" results.

After meeting with Putin, President Trump expressed that retaliatory tariffs on nations buying Russian oil are not an immediate concern, but he might reconsider in two to three weeks.

For years, India has balanced close partnerships with both Washington and Moscow, even throughout Ukraine war. Trump is finally demanding it picks a side