New Delhi: India will continue importing oil from Russia despite fresh warnings from US President Donald Trump, who has threatened New Delhi with higher tariffs and possible penalties over its continued energy and defence dealings with Moscow, Reuters reported, citing two government officials.
The officials indicated that India’s position remains unchanged and guided by long-term strategic and economic interests.
'Not So Simple to Stop Overnight': Officials Stand by Russian Oil Deals
One of the sources told Reuters that the oil deals with Russia are bound by long-term contracts and cannot be undone abruptly. “These are long-term oil contracts. It is not so simple to just stop buying overnight,” the source added, responding to Trump’s statement suggesting that India might be rethinking its Russian oil imports.
Another official said that India’s continued oil purchases have actually helped prevent a dramatic surge in global oil prices, adding that Russian crude is not under direct sanctions, unlike Iranian and Venezuelan oil. Furthermore, India continues to procure Russian oil below the price cap imposed by the European Union, the source added.
MEA, Oil Refiners Reiterate India’s Position on Energy Security
On Saturday, August 2, government sources told ANI that Indian oil refiners have no plans to halt imports from Russia, stating that supply decisions are based on factors such as pricing, grade of crude, logistics, and overall economic benefit.
“Indian oil refiners continue to source oil from Russian suppliers. Their supply decisions are guided by price, grade of crude, inventories, logistics, and other economic factors,” the official told ANI.
Meanwhile, Ministry of External Affairs spokesperson Randhir Jaiswal said India would remain guided by global market offerings to meet its energy demands. “We are driven by our energy security needs and what is available in the international market,” he said.
Though Reuters reported on Friday, August 1, that India might stop purchasing discounted Russian oil, there has been no official instruction issued to refineries, according to Russian media.
Trump, reacting to the report, told journalists, “That’s what I heard. I don’t know if that’s right or not. That is a good step. We will see what happens.”
