Despite US President Donald Trump’s recent remarks suggesting that India may have halted Russian oil imports, Indian government sources have confirmed that oil refiners continue sourcing Russian crude, guided by economic and strategic considerations—and in full compliance with international norms.
Responding to Trump’s comment that “India is no longer going to be buying oil from Russia,” sources in an ANI report said Indian oil companies have not paused Russian imports, and supply decisions remain based on factors like price, logistics, crude grade, and inventory needs.
Trump made the statement on Friday, calling the potential move “a good step” if true. But Indian officials pushed back, reiterating that India’s energy policy is grounded in national interest and driven by economic realities.
Providing context, sources noted that Russia is the world’s second-largest crude producer, with an output of 9.5 million barrels per day—roughly 10% of global demand—and continues to export approximately 4.5 mb/d of crude and 2.3 mb/d of refined products.
India, the third-largest energy consumer globally, with 85% dependence on oil imports, has adapted its sourcing strategy amid geopolitical and market disruptions to secure affordable energy, while adhering to international norms, they added.
Notably, Russian oil has never been directly sanctioned by the US or EU. Instead, it is subject to the G7/EU price cap mechanism aimed at limiting Kremlin revenues without disturbing global supply.
Indian refiners have complied with the $60/barrel cap and have not sourced Iranian or Venezuelan crude, which are under direct US sanctions.
Sources in the report also pushed back on reports—such as those from Reuters—that some Indian state-owned refiners had suspended Russian purchases, calling such claims “inaccurate.” The MEA earlier clarified it was not aware of any specific change in procurement.
Pointing to global dynamics, Indian officials emphasized that India’s continued purchase of Russian oil has helped prevent a repeat of the March 2022 Brent price spike to $137/barrel. With OPEC+ cutting output by 5.86 mb/d, Indian demand for discounted Russian crude helped maintain global price stability and limit inflationary shocks.
