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No Delhi Statement on Russian Oil Ban, Kremlin Says

  • By Thetripurapost WebDesk, Moscow
  • Feb 03, 2026
  • 543

Russia said on Tuesday that it has received no official communication from India indicating that New Delhi plans to stop importing Russian crude oil, contradicting recent claims made by U.S. President Donald Trump.
According to a Reuters report, Kremlin spokesperson Dmitry Peskov stated that Moscow is closely analyzing President Trump’s remarks regarding India’s energy imports. When asked directly whether India had decided to halt purchases of Russian oil, Peskov said no such statement has been issued by the Indian government so far.
The Kremlin’s response follows Trump’s announcement on Monday that the United States and India had reached a trade agreement under which Washington would reduce tariffs on Indian goods from 50 percent to 18 percent. In return, Trump claimed, India agreed to stop buying oil from Russia and lower trade barriers. New Delhi has neither confirmed nor denied these assertions.
Russian oil exports to India surged after Moscow launched its military invasion of Ukraine in February 2022, triggering sweeping Western sanctions on Russia’s energy sector. As European buyers reduced imports, Russia offered crude oil at steep discounts, prompting India to significantly increase purchases.
As a result, India–Russia bilateral trade rose to $68.7 billion in FY 2024–25, with crude oil accounting for the bulk of the volume. India alone imported $52.73 billion worth of Russian crude during this period. Analysts warn that a complete halt in oil imports could reduce bilateral trade to below $20 billion.
India’s Petroleum Minister Hardeep Singh Puri said last month that imports from Russia are likely to decline further, citing market dynamics rather than political pressure. In an interview with Bloomberg, Puri emphasized that India is diversifying its energy sources to avoid dependence on a single supplier. He noted that Russian oil supplies have fallen to about 1.3 million barrels per day, down from 1.8 million barrels per day last year.
Despite this, Trump has repeatedly claimed that U.S. pressure has forced India to cut Russian oil purchases. In Davos last week, U.S. Treasury Secretary Scott Bessent told Fox News that India had “almost stopped” buying Russian oil following the imposition of a 25 percent tariff, a claim disputed by Indian officials.
While some private refiners have reduced imports, the Indian government maintains that oil purchases from Russia continue.
In December 2025, India ranked as the third-largest buyer of Russian oil, purchasing crude worth €2.3 billion (approximately ₹23,000 crore). China remained the top buyer with imports worth €6 billion, followed by Türkiye at €2.6 billion.
India’s declining imports were led by Reliance Industries, whose Jamnagar refinery cut Russian oil purchases by nearly half amid concerns over U.S. sanctions. State-owned oil companies also reduced imports by around 15 percent in December.
The economic rationale for buying Russian oil has weakened significantly. After the Ukraine war, Russia offered discounts of $20–25 per barrel when global crude prices were near $130 per barrel. Currently, international crude prices hover around $63 per barrel, while Russian discounts have narrowed to $1.5–2 per barrel. Higher shipping and insurance costs have further eroded the advantage.
As a result, India is increasingly turning back to traditional and stable suppliers such as Saudi Arabia, the UAE, and the United States, where price differences are now marginal.