No Halt To Russian Oil - News Reports Indicate No Change In Indian Oil Imports

Sources in India have refuted claims that the country is halting oil imports from Russia, stating that purchases are driven by national interests and market forces. 

The clarification comes amid conflicting news reports suggesting a potential shift in India’s energy policy, particularly following statements from U.S. President Donald Trump. 

On Friday, Trump remarked that he had heard India might stop buying Russian oil, calling it a positive step, though he expressed uncertainty about the accuracy of the information.

The development follows reports from Reuters indicating that Indian state-owned refiners, including Indian Oil Corp and Hindustan Petroleum Corp, paused Russian oil purchases last week due to narrowing discounts and U.S. pressure. 

However, sources cited by news outlets today emphasized that no official decision has been made to halt imports. Instead, India continues to prioritize energy security, with Russian crude remaining a significant portion of its oil imports.

Parallel reports highlighted the unloading of stranded oil tankers off India’s coast, with Bloomberg noting that vessels carrying Russian crude have recently departed after delivering shipments to local refineries. 

This activity suggests ongoing trade despite external pressures, including Trump’s threat of 100% tariffs on countries buying Russian oil unless a Ukraine peace deal is reached within 50 days, a deadline set for August 8.

The situation remains fluid as global attention focuses on India’s balancing act between economic interests and geopolitical alliances, with further developments expected as the U.S. deadline approaches.