India will continue importing Russian oil, according to government sources, disregarding threats from Trump.
In a move that defies US threats and potential penalties, India is persisting in purchasing substantial quantities of Russian oil. This decision, despite the risks, has been driven by the attractive discounts offered on Russian crude, which has helped India reduce its energy import costs, maintain stable domestic fuel prices, and control inflation.
Currently, Russian crude makes up about 35-40% of India's total oil imports, a dramatic increase from less than 0.2% before Russia's invasion of Ukraine in early 2022. India imports approximately two million barrels of Russian crude oil per day, making it the second largest buyer of Russian oil after China.
India's stance on this matter was clarified by India's foreign ministry spokesperson, Randhir Jaiswal, who stated that India's energy sourcing requirements are based on market availability, global circumstances, and prevailing offers. Jaiswal also emphasized India's steady and time-tested partnership with Russia.
However, not all Indian refiners are maintaining the same pace. Nayara Energy, a significant buyer of Russian oil, has faced challenges due to the imposition of EU sanctions and the resignation of its chief executive last month. Company veteran Sergey Denisov has since been appointed as the new CEO. Nayara Energy, which is majority owned by Russian entities, was recently sanctioned by the European Union.
Despite these challenges, India's top oil supplier during the first six months of 2025 remains Russia, accounting for approximately 35% of India's overall supplies. The long-term oil contracts with Russia make it difficult for India to easily terminate these purchases.
It is worth noting that Iraq, Saudi Arabia, and the United Arab Emirates are the next top oil suppliers to India, following Russia. Indian state refiners have, in the past week or so, stopped buying Russian oil due to narrowing discounts. Three vessels carrying oil products from Nayara Energy are currently hindered from discharging their cargoes due to the new EU sanctions on the Russia-backed refiner.
Despite these challenges, India plans to continue purchasing oil from Russia, a decision that has drawn criticism from the US. U.S. President Donald Trump had indicated last month that India would face additional penalties for purchases of Russian arms and oil. However, unnamed senior Indian officials stated there had been no change in government policy. The White House in Washington did not respond to requests for comment regarding India's continued oil purchases from Russia.
Trump claimed on Friday that he had heard India would no longer be buying oil from Russia, but this assertion seems to be unfounded, as India continues to navigate this complex geopolitical landscape.
References:
- India's Oil Imports from Russia Soar Amidst US Threats
- India Remains a Key Buyer of Russian Oil Despite US Pressure
- India's Energy Ties with Russia Remain Strong Despite US Pressure
- In contrast to US threats and potential penalties, India continues to purchase oil from Russia, making it the top oil supplier to India during the first half of 2025.
- Despite the reservations from the US, India's energy sourcing is primarily based on market availability, global circumstances, and prevailing offers, as explained by India's foreign ministry spokesperson, Randhir Jaiswal.
- India's persistent purchasing of Russian oil, despite EU sanctions on some Indian refiners, has sparked criticism from the US, with President Trump suggesting additional penalties for such transactions, but Indian officials maintain no change in their government policy.
- Amidst the complex geopolitical landscape, India's steady and time-tested partnership with Russia remains strong, as shown by the significant quantities of Russian oil imported daily, making India the second largest buyer after China.
