India plans to keep purchasing oil from Russia, even with the possibility of penalties from President Trump, according to two Indian government sources who chose to remain anonymous due to the sensitive nature of the matter.
Last month, Trump indicated via social media that India would face further penalties for its purchases of Russian oil and weaponry, on top of the new 25% tariffs on Indian exports to the U.S.
During a press briefing on Friday, Trump claimed to have received information suggesting that India had stopped buying Russian oil.
Nonetheless, the sources indicated that there would be no immediate shift in India’s purchasing strategy.
“These are long-term contracts,” one source explained. “It’s not something you can just stop overnight.”
The second source justified continuing to import oil from Russia by mentioning that these purchases have helped stabilize global crude oil prices, despite Western sanctions on the Russian oil sector.
Unlike oil from Iran and Venezuela, Russian crude isn’t directly sanctioned, and India remains below the price cap established by the European Union, the sources noted.
The New York Times also reported on this issue, citing two unnamed Indian officials.
Indian officials have yet to respond to requests for comments regarding their oil purchases.
In a regular press conference on Friday, Ministry of Foreign Affairs spokesperson Randhir Jaiswal stated that India maintains a “stable and implemented partnership” with Russia.
“We consider our energy procurement requirements, available market options, and what is generally obtainable in the current global context,” he added.
The White House has not provided a response to inquiries for comment.
Top India suppliers
Trump, who has prioritized addressing the Russian war in Ukraine since taking office, has expressed growing frustration with Russian President Vladimir Putin. He has threatened to impose 100% tariffs on U.S. imports from countries that purchase Russian oil unless a substantial peace agreement is reached in Ukraine.
Currently, Russia is the world’s third-largest oil importer and consumer, serving as India’s primary supplier, which accounts for roughly 35% of India’s oil imports.
Between January and June of this year, India imported about 1.75 million barrels of Russian oil per day, reflecting a 1% increase compared to the previous year, according to Reuters data.
While the Indian government appears undeterred by Trump’s threats, it has been noted that Indian state refiners halted purchases of Russian oil following a reduction in discounts offered in July—marking the lowest levels since sanctions were first enacted against Russia.
Indian Oil Corporation, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Mangalore Refinery Petrochemicals Co., Ltd. have reportedly not sought Russian crude oil in the past week, as confirmed by multiple sources.
Nayara Energy, a refinery owned by Russian entities including Oil Major Rosneft and a major buyer of Russian oil, has recently been sanctioned by the EU. The company’s CEO has stepped down following these sanctions, and three ships carrying Nayara’s petroleum products remain in limbo due to new restrictions imposed by the EU.
