"russian-oil"

India’s Russian crude imports have risen sharply since the US-Iran war due to West Asia supply disruptions rather than discounts, averaging 60 million barrels monthly. Axis Bank said Russia’s share increased despite stable discounts and premiums, while higher oil prices could impact US inflation

A US House-passed bill could allow President Donald Trump to impose tariffs of up to 100 per cent on India over Russian oil purchases, GTRI said. It warned such measures could threaten Indian exports, energy security and trade relations with Washington 

External Affairs Minister S Jaishankar said India remains in continuous contact with Russia and Ukraine and is exploring ideas to help end the conflict. In Warsaw, he stressed dialogue, diplomacy and negotiations, while defending India’s Russian oil purchases as separate from resolving the war

External Affairs Minister S Jaishankar criticised European countries for selling weapons that are allegedly used against India, while asserting that New Delhi has never endangered Europe’s security. He also said the US had encouraged India to buy Russian oil after the Ukraine war to stabilise global energy markets

Iranian Foreign Minister Abbas Araghchi accused the US of hypocrisy, saying Washington pressured India to stop buying Russian oil but is now urging countries to purchase it after the recent conflict involving Iran, the US, and Israel escalated tensions across the Gulf region

The United States urged India to buy Russian oil cargoes waiting near Chinese refineries and redirect them to Indian refineries to ease supply concerns and curb price spikes during the West Asia conflict, while maintaining that Washington’s policy toward Russia remains unchanged

Indian refiners have begun purchasing stranded Russian crude oil cargoes following a US Treasury waiver, as disruptions in the Strait of Hormuz threaten Middle Eastern supplies.

At the Munich Security Conference, External Affairs Minister S. Jaishankar reaffirmed India’s commitment to strategic autonomy, emphasizing that energy decisions—including Russian oil imports—will be based on availability, cost, and risk, rejecting US claims of any commitment to halt purchases

US President Donald Trump announced a cut in tariffs on Indian goods to 18% after Prime Minister Narendra Modi agreed to curb Russian oil purchases. The move links trade relief to geopolitical pressure over the Ukraine war

India is rebalancing crude oil imports toward Middle Eastern suppliers as Russian volumes dip due to sanctions and compliance risks. While Russian crude remains economical, refiners are prioritising supply reliability, with Iraq and Saudi Arabia regaining share in early 2026

President Trump has approved a bipartisan Russia sanctions bill that could impose up to 500% tariffs on nations buying Russian oil. The move targets countries like India, China, and Brazil to curb funding for Russia’s war in Ukraine.

US President Donald Trump warned India over Russian oil purchases, saying tariffs could be raised quickly. He claimed Prime Minister Narendra Modi understood Washington’s displeasure, while Senator Lindsey Graham linked reduced Russian oil imports to US tariff pressure

US President Donald Trump praised Prime Minister Narendra Modi for reducing India’s Russian oil purchases, claiming tariff pressure prompted the shift, while Senator Lindsey Graham said the move weakens Russia’s war effort and shows tariffs work.

Reliance Industries has stopped processing Russian crude at its export-only SEZ refinery in Jamnagar, Gujarat, effective November 20, to comply with European Union sanctions. From December 1, all exports will be derived from non-Russian oil, ensuring full compliance ahead of the January 2026 deadline. The move follows US sanctions on Rosneft and Lukoil, Russia’s largest oil exporters, and EU restrictions on fuels made from Russian crude.

India spent €2.5 billion on Russian crude in October, remaining the second-largest buyer despite new US sanctions on Rosneft and Lukoil. Russian oil imports rose 11%, with state refineries increasing intake as discounts narrowed and Western buyers further reduced purchases

US President Donald Trump claimed India would reduce Russian oil imports to “almost nothing” by year-end, crediting talks with PM Modi. He also said he plans to persuade China to follow suit, while defending his controversial tariff policies.

The Congress attacked Prime Minister Narendra Modi after US President Donald Trump again claimed India is cutting oil imports from Russia. Jairam Ramesh said this was the fourth time Trump had announced India’s policy, quipping that “while Modi conceals, Trump reveals.”

US President Donald Trump warned India of “massive tariffs” if it continues buying Russian oil, claiming Prime Minister Modi assured him of a halt in purchases. India denies such a commitment, citing energy diversification and market conditions.

US President Donald Trump claimed India has stopped buying Russian oil and reiterated his role in mediating India-Pakistan hostilities. India clarified it is diversifying energy sourcing, while Washington’s tariffs on Indian goods continue to strain bilateral ties.

India reaffirmed that its oil and gas import policy is guided solely by consumer interests and market stability, amid reports of US pressure to curb Russian crude purchases. Officials said India continues to diversify energy sources to ensure secure supplies