India’s major oil refiners have begun distancing themselves from new purchases of Russian crude, a move that reflects shifting geopolitical and economic priorities as New Delhi advances negotiations for a new trade agreement with the United States. According to industry sources, several of India’s largest refiners—including Indian Oil Corporation, Bharat Petroleum, and Reliance Industries—have declined offers from traders for Russian oil scheduled to load in March and April. While some shipments arranged earlier are still expected to arrive in March, most refiners have temporarily halted new buying activity.

This development comes as India and the United States work toward finalizing a framework for a broader trade pact aimed at lowering tariffs and expanding economic cooperation. Although the joint announcement outlining the trade framework did not explicitly mention Russian oil, U.S. President Donald Trump stated that India had pledged to cease importing Russian crude either directly or indirectly. As a result, Washington lifted a previously imposed 25 percent tariff on Indian goods that had been introduced in response to India’s purchases of discounted Russian oil.

India has not formally confirmed plans to stop buying Russian crude. Officials from the country’s foreign ministry emphasized that India’s energy strategy centers on diversifying supply sources in response to changing global conditions while ensuring energy security for its large and growing population. Since Russia’s invasion of Ukraine in 2022, India had become the largest buyer of Russian seaborne crude, taking advantage of heavily discounted prices after Western sanctions disrupted Russia’s traditional export markets.

However, imports have already begun declining. Sources say India had been preparing to reduce Russian oil imports to below one million barrels per day by March, with expectations that volumes could eventually fall to between 500,000 and 600,000 barrels daily. This would represent a significant drop compared with the average of 1.7 million barrels per day imported last year, and far below the peak of more than two million barrels per day recorded in mid-2025. Trade data also show that Indian purchases of Russian crude reached a two-year low in December.

Despite the broader reduction, one exception may remain. Nayara Energy, a private refinery partly backed by Russian interests, relies heavily on Russian crude for its 400,000-barrel-per-day operations. The company may continue purchasing Russian oil, although it currently plans no imports in April due to scheduled maintenance at its refinery.

As Indian refiners scale back Russian purchases, they are increasingly sourcing crude from suppliers in the Middle East, Africa, and South America. Industry analysts say future decisions on Russian oil buying will likely depend on guidance from the Indian government and developments in international trade negotiations.

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