- India buys Russian oil on discounted price.
- US tariff reduces India’s Russian oil buying by 38%.
- Modi doesn’t say US ask for halting oil purchases.
The Kremlin said on Tuesday it had not received any indication from India that it would stop buying Russian oil following the announcement of a trade deal with US President Donald Trump.
Trump said he had struck a deal to reduce tariffs on India and that Prime Minister Narendra Modi had promised to stop buying Russian oil over the war in Ukraine.
India’s purchases of Russian oil — discounted due to Western sanctions complicating logistics and cutting off markets — have surged since Russia launched its full-scale military offensive on Ukraine in February 2022.
Ukraine and its Western allies have been seeking to cut off the billions of dollars in revenue, a vital source of income for Russia’s stretched economy and its military.
“So far, we haven’t heard any statements from New Delhi on this matter,” Kremlin spokesperson Dmitry Peskov told reporters, including AFP.
Trump said he was cutting levies on Indian goods to 18%. He had previously imposed 25% “reciprocal” tariffs on many products, plus an additional 25% for New Delhi’s purchases of Moscow’s oil.
While Modi thanked Trump for the “wonderful” phone call and the easing of tariffs, he made no reference to Trump’s assertion about halting oil purchases.
In 2024, Russia supplied nearly 36% of India’s total crude imports, around 1.8 million barrels of discounted oil per day.
But after Trump hit New Delhi with tariffs, India’s monthly oil imports from Russia plunged by 38%, local media reported, citing India’s Ministry of Commerce and Industry’s data.
Russian President Vladimir Putin promised “uninterrupted shipments” of oil during a visit to New Delhi in late 2025.
Bilateral trade between the two sides reached $68.7 billion in 2024-25 — almost six times higher than the pre-pandemic levels — dominated by Moscow’s energy sales, with Indian exports to Russia accounting for under $5 billion.
