A White House official has claimed that India has halved its purchases of Russian oil, but Indian industry sources say no such reduction has taken place, casting doubt on Washington’s assertion as trade tensions between the two countries continue to simmer.
The statement came amid ongoing talks in Washington between Indian officials and the Trump administration, which has been pressing New Delhi to curb imports of discounted Russian crude. The U.S. argues that Moscow uses oil revenues to fund its war in Ukraine. Russian oil has become a sticking point in prolonged U.S.–India trade negotiations, with President Donald Trump imposing 50% tariffs on Indian goods — half of which he says are retaliation for continued Russian oil purchases.
According to the White House, Indian refiners have already cut Russian imports by 50%, but Indian industry insiders said Friday they had received no instructions from the government to reduce purchases. In fact, refiners have placed firm orders for November loadings, including cargoes scheduled for December delivery.
Commodity tracker Kpler estimates India’s Russian oil imports will rise by around 20% this month to 1.9 million barrels per day, as Russia increases exports following Ukrainian drone attacks on its refineries.
Adding to the confusion, Trump claimed on Wednesday that Prime Minister Narendra Modi personally assured him that India would stop buying Russian oil. India’s foreign ministry, however, said it was unaware of any such phone conversation between the two leaders that day. Meanwhile, India’s oil minister has requested detailed data from refiners on Russian crude imports for November and December, but no policy changes have been announced.
Russia accounted for 36% of India’s oil imports — about 1.75 million barrels per day — in the six months through September. India has emerged as the largest buyer of seaborne Russian oil sold at discounted rates since Western nations imposed sanctions after Moscow’s 2022 invasion of Ukraine.
The issue is deeply entwined with broader U.S.–India trade negotiations. Modi initially hoped for a quick deal, but talks have stalled, and Trump has levied some of the highest tariffs in his global trade regime on Indian goods. U.S. negotiators say reducing Russian crude imports is key to lowering tariffs and reaching an agreement.
Meanwhile, Kremlin spokesman Dmitry Peskov signaled confidence in the Russia–India energy partnership, saying Moscow could offer oil even more cheaply to countries under U.S. pressure.
Oil markets reacted cautiously on Friday, with Brent crude futures dipping 0.79% to $60.58 a barrel as uncertainty grew over global supply and upcoming talks between Trump and Russian President Vladimir Putin.