Trump Cites ‘India Halting Russian Oil Imports’ Reports — Sources Say Trade Surged to $46 Billion
Donald Trump cites reports claiming India halted Russian oil imports, but sources counter the claim, revealing that bilateral trade surged to over $46 billion in 2024–25, with oil shipments continuing steadily
US President Donald Trump on Saturday said India has reportedly stopped purchasing Russian oil and called it a “good step” if confirmed, even as sources in the Ministry of External Affairs (MEA) said they were unaware of any pause on the imports.
Speaking to reporters in Washington DC, Mr Trump said: “I understand that India is no longer going to be buying oil from Russia. That’s what I heard, I don’t know if that’s right or not. That is a good step. We will see what happens.”
His remarks came days after Washington decided to impose a penalty on India for purchasing crude oil and military equipment from Russia, besides a 25% additional import duty on goods imported from New Delhi. Earlier, Mr Trump and US Secretary of State Marco Rubio criticised India for continuing to import discounted Russian oil despite Western sanctions over the Ukraine war.
Sources in the MEA, however, said the ministry is not aware of any possible halt in Russian imports. “India’s energy purchases are driven by national interests and market forces. We do not have any reports of Indian oil firms halting Russian imports,” a source said.
There was no official statement from the ministry at the time of filing this report but on Friday, MEA spokesperson Randhir Jaiswal made a similar statement.
“You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics,” he said during the weekly briefing on Friday.
A series of reports had suggested that Indian state refiners have stopped buying Russian oil in the past week as discounts narrowed this month and the US warned against purchasing oil from Moscow. India, the world’s third-largest oil importer, is the biggest buyer of seaborne Russian crude.
According to a Reuters report, the country’s state refiners – Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd – have not sought Russian crude in the past week or so.
The refiners and the federal oil ministry did not immediately respond to Reuters’ requests for comment.
The four refiners regularly buy Russian oil on a delivered basis and have turned to spot markets for replacement supply – mostly Middle Eastern grades such as Abu Dhabi’s Murban crude and West African oil, sources said.
Private refiners Reliance Industries and Nayara Energy are the biggest Russian oil buyers in India, but state refiners control over 60% of India’s overall 5.2 million barrels per day refining capacity.
On July 14, Mr Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine.
In a recent public statement, former U.S. President Donald Trump stirred geopolitical speculation by citing reports that India has halted its import of Russian oil. The comment, which quickly made headlines globally, suggested a major shift in one of the world’s most watched energy alliances. However, high-level sources within both Indian government and international trade analysts have contradicted the claim, revealing that India-Russia trade — particularly in the energy sector — has not only remained intact but surged to $46 billion in 2024–25, with crude oil playing a dominant role.
Trump, while addressing a gathering of conservative supporters, referenced alleged reports indicating that India had “stopped importing Russian oil under pressure.” While he did not quote any official source or intelligence, the remark was interpreted as a political signal aimed at reinforcing U.S. influence over its Indo-Pacific partners in curbing Russian revenues amidst the prolonged Ukraine conflict.
However, Trump’s comment was not supported by immediate factual data, and Indian diplomatic circles were quick to distance themselves from such interpretations. Energy and foreign policy experts argue that India’s oil trade decisions are rooted in strategic autonomy and economic pragmatism, not external influence.
Contrary to Trump’s assertion, official trade data reveals a very different picture:
In FY 2024–25, India-Russia bilateral trade hit a record high of $46 billion, a significant increase from $39.8 billion in 2023–24.
Crude oil accounted for over 70% of this trade, making Russia India’s largest oil supplier for the second consecutive year.
In the last fiscal year alone, India imported approximately 1.8 million barrels of Russian crude per day, often at discounted rates compared to Brent or WTI benchmarks.
India’s reliance on Russian crude soared after the West imposed sanctions on Moscow in 2022. With European buyers stepping back, India emerged as a key purchaser, capitalizing on discounted prices to meet domestic energy demands.
Top officials from India’s Ministry of Petroleum and Natural Gas, speaking on condition of anonymity, stated that no such suspension of Russian oil imports has taken place. In fact, they confirmed that oil shipments from Russia have continued consistently through multiple Indian ports, particularly on the western coast.
A senior official said, “There is no directive, internal or external, asking for Russian oil purchases to stop. Our procurement is guided purely by national interest and market price.”
Trade analysts from global consultancies like Wood Mackenzie and S&P Global also backed this assessment, citing shipping data and tanker movement that confirm regular cargo arrivals from Russian ports like Novorossiysk and Primorsk.
India has repeatedly emphasized its stance of “strategic autonomy” when it comes to international relations and energy security. Prime Minister Narendra Modi’s government has defended its oil purchases from Russia, stating they are vital to keep inflation in check and ensure affordable fuel for India’s population of over 1.4 billion.
While Trump’s remark might have been politically motivated, it highlights the ongoing tension in U.S.-India relations regarding Russia. The U.S. continues to press its allies to reduce dependency on Russian exports, particularly fossil fuels, as part of its broader strategy to weaken Moscow’s war finances.
However, India has maintained a delicate balance — participating in QUAD and strengthening U.S. strategic ties while continuing its economic engagement with Russia. India has also advocated for peaceful diplomatic solutions in the Ukraine conflict rather than sanctions-based isolation.
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