India Gradually Reducing Russian Oil Imports Amid U.S. Pressure
Some Indian refiners are preparing to cut imports of Russian crude, with a gradual reduction expected, according to sources familiar with the matter. The move comes as the United States pressures New Delhi to halt purchases of Russian oil to support efforts to end the war in Ukraine. U.S. President Donald Trump claimed that Prime Minister Narendra Modi assured him India would stop buying Russian crude, the country’s top source of imported oil.
India, however, emphasized that its primary goals remain ensuring stable energy prices and securing supply for domestic consumers. The Ministry of External Affairs stated that import policies are guided entirely by safeguarding the interests of Indian consumers and did not directly address Trump’s comments. Officials added that abruptly stopping Russian oil imports would be difficult, as switching to alternative crudes could drive up global prices and exacerbate inflation.
In the first half of the fiscal year, India imported 1.75 million barrels per day of Russian crude, accounting for 36% of its total oil imports, slightly down from 40% in the previous year. Imports of U.S. crude rose 6.8% to 213,000 barrels per day, while Middle Eastern oil accounted for 45% of total imports. Indian officials are in Washington for trade talks, with discussions ongoing on deepening energy cooperation with the United States.
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