Editor’s Note
This report details India’s evolving strategy regarding Russian oil imports, clarifying that while no immediate halt is planned, a gradual reduction is underway. We examine the directives being issued to refineries and the broader implications of this shift.
Amidst ongoing speculation regarding crude oil purchases from Russia, a major update has emerged. According to sources, India will not immediately halt purchases of Russian oil but is working on a strategy to gradually reduce them. Read in the report what messages refineries are receiving.
According to recent information, India will not immediately stop purchasing crude oil from Russia. PTI reported, citing sources, that India may move towards gradually reducing these imports. Refineries like Nayara Energy currently have limited options, making a sudden change impossible.
However, as per the report, Indian refineries have not received any formal order to completely stop buying oil from Russia, but they have been informally advised to reduce purchases. These refineries, which produce fuels like petrol and diesel, are now also looking at alternative suppliers.
Union Commerce Minister Piyush Goyal provided information on some aspects of the India-US trade deal on Saturday, but when asked about stopping oil purchases from Russia, he clearly stated that only the Ministry of External Affairs (MEA) would provide official information on this. This indicated that the matter is not just about trade but is also linked to diplomatic and strategic levels.
The order issued by the White House stated that the 25 percent “penal” tariff imposed on India has been removed following India’s commitment to stop oil imports from Russia. President Trump also claimed that India agreed to stop oil imports from Russia, which is why this tariff was removed.
