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Some Indian refineries are gearing up to reduce Russian oil imports gradually, according to three sources familiar with the matter, amid U.S. pressure on New Delhi to halt Russian crude purchases to help end the Ukraine conflict.
U.S. President Donald Trump stated that Prime Minister Narendra Modi assured him India would cease buying oil from Russia, which is currently India’s largest source of imported oil.
India emphasized Thursday that its primary objectives remain maintaining stable energy prices and securing supply. A foreign ministry spokesperson said, “Our consistent priority is to protect Indian consumers in a volatile energy market. Our import strategies are solely guided by this goal.” The statement made no mention of Trump’s comments on India’s Russian oil purchases.
India’s officials are currently conducting trade negotiations in Washington, where the U.S. has doubled tariffs on Indian exports in an effort to persuade New Delhi to cut Russian oil imports. American negotiators believe reducing those purchases is key to lowering tariffs and concluding a trade deal.
India and China are the leading consumers of Russian seaborne crude, capitalizing on discounted prices after European buyers shunned Russian imports and Western sanctions were imposed following Moscow’s invasion of Ukraine in February 2022.
Trump expressed dissatisfaction, saying, “I was not happy that India was buying oil, but Modi assured me today they will stop buying Russian oil.” Meanwhile, India indicated that it is exploring deeper energy cooperation with the United States, with a spokesperson saying discussions are ongoing.
Refiners in India have yet to receive official instructions from the government to halt Russian imports. Sources, speaking on condition of anonymity, indicated that an immediate switch away from Russian crude would risk pushing up global oil prices and fueling inflation.
From April to September, India imported approximately 1.75 million barrels per day of Russian crude, which accounted for about 36% of its total oil imports—down from 40% in the same period last year. Additionally, India increased its US crude imports by 6.8% year-over-year to roughly 213,000 barrels per day, representing 4.3% of total imports. The share of Middle Eastern oil rose to 45% from 42% during this six-month period.
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