Government sources have denied reports claiming that state-run Indian oil companies stopped buying crude oil from Russia. They said India’s energy imports are based on market conditions and the country’s national interest.
This clarification came a day after US President Donald Trump praised the reported halt in Russian oil imports, calling it a “good step.”
Sources explained that the Indian government had already shared its stance, stating that it has no confirmation of any Indian oil company stopping Russian crude imports. They added that factors like price, type of crude, storage, transport costs, and other business-related issues decide such purchases.
India's Stand Based on Market and National Needs
On Friday, Ministry of External Affairs spokesperson Randeep Jaiswal answered a question about India’s energy policy in the current global situation, which includes pressure from the United States. He made it clear that India’s energy choices are guided by the global market and its own interests.
“Regarding energy, our stand is well known. We buy based on market availability and what suits our needs considering the global scenario,” Jaiswal said.
India Remains Largest Buyer of Russian Seaborne Crude
India continues to be the biggest buyer of Russian oil shipped by sea. Reports mentioned that major Indian refiners like Indian Oil Corporation, Hindustan Petroleum, Bharat Petroleum, and Mangalore Refinery haven’t ordered Russian crude in recent days. This development came at a time when the US is increasing pressure on countries still doing business with Russia. The Indian government, however, has stood by its long-term relationship with Russia, calling it a trusted partnership. At the same time, it stressed the importance of its strong ties with the United States.
Tensions Rise After US Announces New Tariffs
On July 30, Donald Trump announced a 25% tariff on Indian goods and warned of more action over India’s deals with Russia involving arms and oil. Right after this, he criticized India’s close links with Moscow and called both nations “dead economies.” Trump also said openly that he “does not care” about what India does in its dealings with Russia. Despite these remarks, India has shown confidence that its relations with the US will remain strong and continue to grow in the future.
