India stays silent on Russia oil claims
India's crude oil sourcing strategy has come under renewed scrutiny ahead of the announcement of key parameters of the proposed India-US trade agreement. Top Government sources on Tuesday said India would continue to procure crude oil from countries that are "not under sanctions," indicating there has been no immediate change in policy.
The clarification followed President Trump's assertion that Prime Minister Narendra Modi had agreed to halt imports of Russian oil and instead ramp up purchases from the United States and "potentially, Venezuela." The Government has so far refrained from publicly endorsing or rejecting the US president's remarks, adopting a cautious diplomatic stance. India is currently the world's second-largest buyer of Russian crude, despite Moscow being under US sanctions. Kremlin spokesperson Dmitry Peskov said on Tuesday that Russia had received no communication from New Delhi suggesting any intention to stop oil purchases. "We haven't heard any statements from New Delhi on this matter yet," Peskov said in Moscow, a day after Trump's comments.
India meets nearly 88 per cent of its crude oil requirement through imports, which are refined into fuels such as petrol and diesel. Until 2021, Russian oil accounted for just 0.2 per cent of India's total crude imports. That changed dramatically after Western nations cut purchases from Moscow following its invasion of Ukraine in February 2022, allowing India to emerge as the largest buyer of discounted Russian crude.
Recent data, however, indicates a moderation in volumes. According to real-time analytics firm Kpler, India's imports of Russian crude averaged about 1.1 million barrels per day (bpd) during the first three weeks of January, down from 1.21 million bpd in the previous month and significantly lower than the peak of over 2 million bpd recorded in mid-2025.
At the same time, supplies from other producers have risen. Iraq is now supplying nearly comparable volumes, with exports increasing to around 9.04 lakh bpd in December 2025. Saudi Arabia's shipments have also grown, reaching about 9.24 lakh bpd in January, up from 7.10 lakh bpd in December and a low of 5.39 lakh bpd in April 2025, Kpler data showed.Amid these developments, Union Commerce and Industry Minister Piyush Goyal on Tuesday said the India-US trade agreement has entered its final stage and is a deal "every Indian can take pride in."
