MOSCOW, February 3. /TASS/. Russia is currently only seeing public statements from the US regarding the possibility of India refusing Russian oil, the Russian government is monitoring the situation, Deputy Prime Minister Alexander Novak told reporters.

"We're only seeing public statements. We'll see how the situation develops," he noted.

He added that Russia is confident that its energy resources will continue to be in demand globally, as they ensure a balance between supply and demand.

"Overall, our energy resources are in demand. Supply will always find demand, because the balance remains," he said.

Earlier, US President Donald Trump announced that the US and India had agreed to a deal on further bilateral trade terms. He specified that the US intends to reduce the retaliatory tariff rate from 25% to 18%. He also claimed that Indian Prime Minister Narendra Modi had agreed to stop purchasing Russian oil and switch to purchasing oil from the US and, possibly, from Venezuela.