RUSSIAN OIL EXPORTS TO INDIA
'They are pulling back': Trump repeats claim of India 'not be buying' Russian oil
While addressing a bilateral lunch with Ukrainian President Volodymyr Zelenskyy in the White House, the US President again claimed that India had significantly reduced its oil imports from Russia and is now pulling back entirely, stating that New Delhi "will not be buying oil from Russia anymore."
How India is playing its oil-buying game
India's foreign policy has prioritised national interest amid global shifts. Recent claims about stopping Russian oil imports were dismissed. India is diversifying oil sources, increasing purchases from the US. This strategic approach balances relationships with key energy partners, demonstrating a mature and confident foreign policy.
India tries to balance US, Russia ties in pursuit of Trump deal
India navigates a delicate balance, seeking a trade deal with the US while maintaining energy ties with Russia. Prime Minister Modi indicated a potential reduction in Russian oil purchases, signaling a willingness to work with Washington, though emphasizing the need for cost-effective energy supplies for consumers.
India refutes Trump's claim on halting Russian oil purchase
India's Ministry of External Affairs has refuted US President Donald Trump's claim that Prime Minister Narendra Modi assured him of ending Russian oil purchases. The MEA stated no such telephonic conversation occurred, emphasizing India's consistent priority to safeguard consumer interests in volatile energy markets.
Russia claims it’s offering top-grade oil at bargain prices to countries Trump is courting
Kremlin spokesman Dmitry Peskov said Moscow can offer high-quality oil at lower prices to nations that U.S. President Donald Trump is urging to halt Russian imports. He warned that denying countries the right to choose their suppliers would breach free trade principles.
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Western pressure to hit Asian buying of Russian oil from December, sources say
Asian buyers of Russian energy face increasing pressure, potentially impacting India's oil imports from December. While China and India's seaborne Russian oil imports are expected to rebound, new sanctions could lead to cautious ordering. Japan, however, is unlikely to halt its crucial Sakhalin LNG shipments for now.
No telephone conversation between Modi & Trump yesterday: MEA counters US President's claim
India’s External Affairs Ministry on Thursday said it is “not aware of any conversation” between Prime Minister Narendra Modi and US President Donald Trump regarding Russian oil purchases, countering Trump’s claim that Modi had assured him India would stop buying Russian crude. MEA spokesperson Randhir Jaiswal clarified there was no call or discussion between the leaders on the matter.
India to stop buying Russian oil like Trump claims? MEA issues statement
The External Affairs Ministry said the US has shown interest in deepening energy cooperation with India, with discussions underway. The statement came after President Trump claimed Prime Minister Modi assured him India would stop buying Russian oil.
Trump praises PM Modi, then makes bizarre remark: 'Don’t want to destroy his political career’
US President Donald Trump said on Thursday that Indian Prime Minister Narendra Modi “loves Trump,” but quickly clarified he did not want to harm Modi’s political career. Trump also claimed Modi assured him that India will stop buying Russian oil, though he noted the process would take time.
Trump claims PM Modi assured India will stop buying Russian oil
President Trump announced that Indian Prime Minister Modi pledged to cease oil purchases from Russia, a significant move aimed at cutting Moscow's energy revenues. Trump stated his intention to pursue similar action from China next. This development follows U.S. tariffs imposed on Indian exports to discourage Russian oil imports.
India's Russian oil import rebound in Oct after dip in previous quarter
India's crude oil imports from Russia rebounded in early October after a three-month decline, driven by renewed discounts and refinery demand for festive season. Despite US pressure, Russia remains India's top oil supplier due to economic and strategic ties, with refiners unlikely to cease imports without government directive.
Energy ties align with India's interests: Russian Ambassador to India Denis Alipov
In the ever-evolving landscape of global energy, Russian crude oil stands out as India's most economical option. Ambassador Denis Alipov emphasizes that Russia is not just a supplier but a steadfast ally in energy affairs, reinforcing a partnership that resonates with India's strategic objectives.
It is based on India's national interest: Russia on its energy ties with New Delhi
Russia’s envoy to India, Denis Alipov, said energy cooperation with India aligns with New Delhi’s national interests, highlighting an upswing in bilateral trade. His remarks came after President Trump claimed Prime Minister Modi assured him India would stop buying Russian crude.
Explained: India's Russian oil trade and options before it
US President Trump claimed India will halt Russian oil buys, but Indian refiners await government clarity. Russia remains India's top oil supplier, offering significant discounts. Abruptly stopping these imports is near impossible, with deliveries contracted months ahead. Refiners face economic and strategic trade-offs if Russian oil becomes inaccessible.
Some Indian refiners to move away from Russian oil, sources say
India plans to reduce liquefied petroleum gas (LPG) imports from the Middle East as state refiners aim to increase purchases from the U.S., supporting broader trade talks with Washington. State refiners have informed suppliers in Saudi Arabia, UAE, Kuwait, and Qatar about the likely cut, though the exact reduction is unclear.
Russia confident of continuing energy trade with India: DPM Novak
Russia remains confident in its energy ties with India. Deputy Prime Minister Alexander Novak stated cooperation will continue. This comes after US President Donald Trump claimed India assured him of stopping Russian oil purchases. India maintains its import policies are driven by national interest and market conditions.
India's seeks cheaper oil amid US pressure, aims to continue Russian imports
India's Mangalore Refineries and Petrochemicals is actively seeking discounted oil from new sources. The company aims to maintain its purchases of Russian oil, a key import. This strategy aligns with India's policy of prioritizing the lowest cost energy options. Refiners have benefited from discounted Russian crude following sanctions.
Indian refiners prepare to cut Russian oil imports, sources say
Russian oil exports to India may decline as refiners await official guidance following President Donald Trump’s claim that Prime Minister Modi committed to stopping Russian crude imports. Executives from state-owned and private refiners said they were surprised by Trump’s remarks and had received no instructions from New Delhi.
India paying for Russian oil in yuan along with rubles, says Deputy PM Alexander Novak
India has begun paying for Russian oil in Chinese yuan. This follows a period where India significantly increased oil imports from Russia. Payments are still largely made in rubles. This development occurs amidst ongoing discussions about India's energy security and its independent foreign policy. The US has expressed concerns regarding these transactions.
'Modi is frightened of Trump': Rahul Gandhi criticises PM over US President's remark on Russian oil buys
Congress leader Rahul Gandhi and the party have criticized Prime Minister Narendra Modi following Donald Trump's claim that India will stop purchasing oil from Russia. They allege Modi is "frightened" of Trump and has compromised India's honor and foreign policy for personal gain, ruining relations with Russia.
India a close 2nd to China with₹25,597 crore Russian oil buys
India and China remain significant buyers of Russian fossil fuels. In September, India's imports of Russian crude oil saw a decline. This comes as the United States urges India to reduce its reliance on Russian energy. China leads as the top importer of Russian crude, LNG, and coal. Turkiye also features prominently in these energy trade flows.
Oil prices up 1% after Trump says India promised to stop buying Russian oil
Oil prices experienced a notable rise following remarks from President Trump, who announced Indian Prime Minister Modi's commitment to ceasing oil imports from Russia. This pivotal decision is poised to shake up global oil dynamics. Market watchers are now on alert for upcoming US inventory data to guide their next steps, especially after a recent slew of mixed inventory outcomes.
India willing to spend $15 billion on US oil amid trade talks
India has indicated its readiness to increase oil purchases from US by an additional $15 billion, aiming to accelerate trade talks. This move is part of a broader strategy to reduce its significant trade surplus with the US and potentially ease punitive tariffs.
India's trade deficit widens to 11-month high of $32.15 bn in September
India’s merchandise trade deficit hit an 11-month high of $32.15 billion in September as imports surged to $68.53 billion, outpacing exports of $36.38 billion. The widening deficit follows U.S. tariff hikes on Indian goods like textiles, shrimp, and gems. Despite this, goods exports to the U.S. rose over 13% in the first half of the fiscal year.
India spent 2.5 bn euro on Russian oil buy in Sept
During September, India invested 2.5 billion euros in Russian crude oil, a 14% reduction from August figures. With state-owned refineries significantly trimming imports, India continues to stand as the second-largest buyer of Russian fossil fuels, just behind China. This development is part of a broader pattern seen after the Ukraine invasion, where discounted Russian oil has led to increased imports.
India's Russian oil imports in April-Sept fell 8.4% Y/Y, data shows
India's Russian oil imports dropped 8.4% between April and September due to narrower discounts and tighter supplies, with refiners shifting towards Middle Eastern and U.S. sources. This reduction is also influenced by U.S. pressure and trade negotiations, as India's overall oil imports saw a slight increase.
Crude oil prices in 2025: Navigating the choppy waters of global energy markets
Crude oil prices have remained range-bound between $60–$70 a barrel in 2025 as supply exceeds demand amid geopolitical tensions and U.S. tariff disruptions. With strong U.S. output, steady Russian exports, and India’s rising demand, analysts expect Brent to average around $68 this year.
Sanctions-hit Nayara scrambles to sustain operations, with govt's help
Nayara Energy, a Russian-owned refinery, is navigating significant challenges following EU sanctions. The Indian government is providing support, including tanker trains and coastal vessels, to keep the refinery operational. Nayara is struggling with finding export buyers and facilitating payments. Maintenance and banking issues are immediate concerns.
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