Is There Really a Halt on Russian Oil Imports by India?

Synopsis
Key Takeaways
- India continues to import Russian oil.
- Energy purchases are influenced by national interests.
- Indian refiners are exploring alternative oil sources.
- Government sources deny any halt in imports.
- India-Russia relations remain stable and strong.
New Delhi, Aug 2 (NationPress) Following claims from US President Donald Trump that India has ceased its imports of Russian oil, government insiders have confirmed that there is no suspension of oil purchases from Russia.
As stated by these sources, “India's energy acquisitions are influenced by national priorities and market dynamics. We have received no reports indicating that Indian oil companies have stopped Russian imports.”
Nonetheless, there has been no formal comment from the Ministry of External Affairs (MEA) regarding Trump's assertions.
During a press briefing in Washington, DC, Trump remarked, “I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens.”
Trump has warned of imposing 100 percent tariffs on nations that purchase Russian oil unless there is a significant peace agreement with Ukraine.
MEA spokesperson Randhir Jaiswal mentioned on Friday, “You are aware of our general approach to energy sourcing needs, focusing on available market options and the current global context. We are not privy to any particulars.”
Some reports suggest that Indian refiners, including Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp, and Mangalore Refinery Petrochemical Ltd, may have halted Russian oil purchases in the past week. India is the largest importer of Russian crude oil.
Sources reveal that “the four refiners routinely acquire Russian oil on a delivered basis and have shifted to spot markets for alternative supplies, predominantly Middle Eastern grades such as Abu Dhabi's Murban crude and West African oil.”
India's oil procurement is based on global market offerings to fulfill its energy requirements.
“Our relationships with any country are based on their own merits and should not be viewed through the lens of a third country. Concerning India-Russia relations, we maintain a consistent and tested partnership,” Jaiswal stated on Friday.
“India and the United States enjoy a comprehensive global strategic partnership grounded in shared interests, democratic values, and strong people-to-people connections,” Jaiswal added during the weekly media briefing.