“New Delhi Is Free” Moscow reacts to India halting Russian oil trade
At its peak, India imported over two million barrels daily, falling to about 1.3 million barrels in December and stabilising now
New Delhi:
Russia has said that India is free to buy oil from any country it chooses. The statement came after US President Donald Trump claimed that India agreed to stop buying Russian oil as part of a new trade deal with Washington.
The Kremlin made it clear that it sees nothing unusual in India changing its oil sources. Russian officials said India has always bought oil from many countries and not just from Russia.
Kremlin spokesman Dmitry Peskov spoke on the issue while responding to questions about Trump’s claim. He said Russia is not the only oil supplier to India and never has been.
Therefore, we see nothing new here.”
Trump had earlier said that Prime Minister Narendra Modi agreed to switch India’s crude oil purchases from Russia to the United States. He also hinted that India may stop buying oil from Venezuela.
India has not confirmed any such commitment. Russian officials also noted that they have not received any official message from New Delhi saying it will stop buying Russian oil.
A day before Peskov’s latest remarks, he said Russia had heard nothing from India about ending oil imports. This added to doubts about Trump’s claim.
Russia’s Foreign Ministry also defended the oil trade between the two countries. Spokesperson Maria Zakharova said the trade benefits both sides and helps keep global energy markets stable.
She added that Russia is ready to continue close cooperation with India in this area.
Russian business radio station Kommersant FM pointed out another detail. It noted that while Trump spoke openly about stopping Russian oil imports, Prime Minister Modi did not mention any such agreement.
India’s dependence on Russian oil has changed greatly in recent years. Until 2021, Russian crude made up just 0.2 per cent of India’s oil imports.
That changed after Russia invaded Ukraine in February 2022. Western countries cut back on buying Russian oil. India stepped in and became the biggest buyer of discounted Russian crude.
India is the world’s third largest oil importer. It buys about 88 per cent of its crude oil from abroad. Nearly one third of that now comes from Russia.
At its peak, India was importing more than 2 million barrels of Russian oil each day. This later fell to about 1.3 million barrels a day in December. Experts say this level is likely to stay steady this month.
According to data from Kpler, a global trade tracking firm, India has been importing around 1.5 million barrels of Russian crude per day. This was even after Trump imposed 25 per cent punitive tariffs on Indian goods.
New Delhi is the second largest buyer of Russian crude. Russian oil now makes up over one third of India’s total crude imports.
Last year, Trump imposed steep tariffs on India. These included a 25 per cent levy linked to India’s purchase of Russian energy. In total, tariffs on Indian goods reached as high as 50 per cent.
After this, India’s imports of Russian oil dropped. In the first three weeks of January, imports fell to about 1.1 million barrels per day.
Energy experts say India cannot fully replace Russian oil with US supplies. Igor Yushkov from the National Energy Security Fund explained why.
He said American shale oil is light in quality, closer to gas condensate. Russian Urals crude is heavier and has more sulfur. Indian refineries are designed to handle heavier oil.
“That adds extra cost. A simple switch is not possible.”
He also said the US cannot supply the same volumes as Russia. America cannot cover that,” he said.
Yushkov believes Trump is trying to show strength. “It feels like Trump wants to look like he won the talks and forced his terms,” he said.
He also recalled what happened in 2022. When Russia lost Western buyers, it cut oil production by one million barrels per day. Prices shot up to 120 dollars per barrel.
For now, Russia says it is calm. India, it insists, is free to choose.