Washington, Jan. 5 -- US President Donald Trump has warned India of possible tariff hikes over its continued imports of Russian oil, signalling that Washington is prepared to act swiftly and saying Prime Minister Narendra Modi is aware of his "displeasure" on the issue.

Speaking to reporters aboard Air Force One on Sunday (local time), Trump said Prime Minister Narendra Modi was aware of his displeasure over India's energy trade with Moscow and suggested tariffs could be imposed "very quickly".

"PM Modi's a very good man. He's a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly," Trump said.

The warning comes as India and the United States are holding trade ...