“Well, I understand India no longer is going to be buying oil from Russia. That’s what I heard. I don’t know if that’s right or not, but that’s a good step. We’ll see what happens,” US President Donald Trump told reporters on Friday.
However, fresh reports on Saturday quoted senior Indian officials dismissing any shift in policy. One official noted the government had “not given any direction to oil companies” to reduce Russian imports.
Since Western sanctions led to lower Russian oil prices, India has emerged as one of Moscow’s top customers—helping Russia maintain export revenues while securing cheaper energy for India’s growing economy. Earlier this week, Trump formalised 25% tariffs on Indian exports through an executive order covering around 70 countries, though it stopped short of including the extra “penalty” he had warned of over India’s Russian oil imports—a measure the US could still impose.
When asked about reports suggesting Indian firms had stopped Russian oil purchases, Ministry of External Affairs spokesperson Randhir Jaiswal said India’s energy decisions are driven by international prices and prevailing global conditions.
Trump has often criticised India’s close energy ties with Russia while highlighting a “massive trade deficit with India.” He has also described India as having “the most strenuous and obnoxious non-monetary trade barriers of any country,” noting India’s historical dependence on Russian military equipment and energy—second only to China—at a time when the global community seeks to curb Russia’s offensive in Ukraine.
Despite his remarks, Indian officials told Reuters the country would keep buying Russian oil. “These are long-term oil contracts. It is not so simple to just stop buying overnight,” one government source explained.
Russia remains India’s leading oil supplier, accounting for about 35% of its total imports. From January to June this year, India imported roughly 1.75 million barrels per day of Russian crude—up 1% compared to the same period last year, according to data shared with Reuters.
Defending India’s approach, another official said buying Russian grades has helped stabilise global oil prices, which might have spiked further given Western curbs on Russia’s oil sector.
Unlike Iranian and Venezuelan crude, Russian oil isn’t directly sanctioned, and India continues to purchase it below the European Union’s price cap. However, industry sources told Reuters that Indian state refiners recently paused Russian oil purchases as discounts fell to their lowest since 2022—driven by tight Russian supply and steady demand. Firms including Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp, and Mangalore Refinery Petrochemical Ltd have reportedly not sought Russian crude in recent weeks.