Moscow | The Kremlin on Wednesday said that India is free to purchase crude oil from any country and that New Delhi’s decision to diversify its energy suppliers is neither new nor unusual.
Responding to questions about recent claims made by United States President Donald Trump, Kremlin spokesperson Dmitry Peskov said Russia sees no change in India’s oil import policy. Trump had claimed that Prime Minister Narendra Modi agreed to stop buying Russian oil and instead switch to crude supplies from the United States and possibly Venezuela.
Peskov said Russia has not received any official communication from India indicating a halt in Russian oil imports. He added that India has always sourced petroleum products from multiple countries and that Russia has never been its sole supplier.
“We, along with all other international energy experts, are well aware that Russia is not the only supplier of oil and petroleum products to India. India has always purchased these products from other countries. Therefore, we see nothing new here,” Peskov said.
Russian Foreign Ministry spokesperson Maria Zakharova also addressed the issue, saying the hydrocarbons trade between India and Russia remains beneficial for both sides. Speaking at a press briefing, she said the energy partnership contributes to stability in the global energy market and that Moscow is ready to continue close cooperation with New Delhi.
Zakharova added that Russian oil supplies play a constructive role in global energy balance, particularly at a time of market volatility.
Russian business radio station Kommersant FM noted that while President Trump spoke of a deal to stop Russian oil purchases, Prime Minister Modi did not make any such reference in his public remarks.
Expert analysis on India’s oil imports
Energy experts say India is unlikely to completely halt Russian crude imports due to technical and economic constraints.
Igor Yushkov, a senior expert at the National Energy Security Fund, said American shale oil differs significantly from Russian crude in quality. He explained that US exports are primarily light grades, similar to gas condensate, while Russia supplies heavier, sulphur-rich Urals crude.
According to Yushkov, Indian refineries are designed to process heavier grades and would need to blend US oil with other varieties, increasing operational costs. As a result, a direct substitution would not be feasible.
He also pointed out that Russia typically exports between 1.5 million and 2 million barrels per day of crude to India, a volume that the United States would struggle to replace.
Yushkov suggested that Trump’s comments appear aimed at projecting a political victory in trade negotiations rather than reflecting market realities.
He recalled that when Russia redirected oil exports to Asia in 2022 after losing access to European markets, it cut production by around one million barrels per day. This contributed to oil prices surging to 120 dollars per barrel and led to record fuel prices in the United States.
Trump last year imposed steep tariffs on Indian goods, including a 25 per cent levy linked to India’s purchases of Russian energy, taking total tariffs to as high as 50 per cent in some cases.
India’s oil import landscape
India imports around 88 per cent of its crude oil requirements from overseas markets. Until 2021, Russian oil accounted for just 0.2 per cent of India’s total crude imports.
Following Western sanctions on Moscow after Russia’s invasion of Ukraine in February 2022, India emerged as the world’s largest buyer of discounted Russian crude.
However, recent data shows a moderation in imports. According to real-time analytics firm Kpler, India’s purchases of Russian crude fell to about 1.1 million barrels per day during the first three weeks of January. This is down from an average of 1.21 million barrels per day in December and over 2 million barrels per day at peak levels in mid-2023.
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