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Energy policy

India Denies Stopping Oil Purchases from Russia Amid Trump's Claim

Strategic Insights

— 1 min read

India has not made any official decision to stop buying oil from Russia, despite US President Donald Trump's claim that the country has done so. Sources close to the Indian government have clarified that Oil Marketing Companies (OMCs) continue to import Russian crude, guided by economic rationale and not geopolitics. This comes amid heightened pressure from Washington, where Trump's administration has imposed tariffs on exports from India and other countries and threatened penalties over India's energy and defence ties with Russia.

Key Takeaways:

  • India has not stopped buying oil from Russia, despite Trump's claim, with Oil Marketing Companies (OMCs) continuing to import Russian crude.
  • Sources close to the Indian government have clarified that the decision to import Russian crude is guided by economic rationale and not geopolitics.
  • Indian officials have defended their position, citing India's strategic interest in securing affordable and stable energy.
  • The country's reliance on Russian oil is due to its 85% crude oil import dependence.
  • Indian firms have adhered to international rules and bought oil within the $60 per barrel price cap recommended by the US.
  • The European Union, a critic of Russian energy exports, has been the largest importer of Russian-origin liquefied natural gas (LNG) during the same period.
  • A pause in purchases by Indian state refiners was a commercial decision, not a strategic shift, according to government insiders.
  • India's approach has been pragmatic, legal, and globally stabilising, as per sources.

Statistics:

  • 85%: India's crude oil import dependence.
  • 25%: Tariff imposed by the US on exports from India and other countries.
  • 70+: Countries subject to the 25% tariff imposed by the US.
  • $137: The price oil prices could have spiralled to if India had not absorbed discounted Russian crude during peak volatility.

Sources:

  • ANI (no publication date provided)
  • Indian National Press (Bombay) Pvt. Ltd. (Copyright 2025)

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