Despite swirling rumors and growing pressure from the United States, Indian oil refiners are still sourcing oil from Russia, multiple credible sources confirm. The move, though controversial in international circles, appears to be rooted in economic logic and national interest, not diplomacy.
Why Indian Refiners Aren’t Backing Off
According to sources quoted by news agency ANI, India’s refiners remain undeterred by geopolitical noise and have laid out several hard-nosed reasons for sticking with Russian crude:
- 🔻 Price: Russian oil is still cheaper than alternatives, a crucial factor for India, the third-largest energy consumer in the world.
- ⚗️ Grade of Crude: Indian refineries are optimized to handle the kind of oil Russia produces, reducing processing headaches.
- 🛢️ Inventory Needs: Managing fuel security and stock levels remains a high priority, especially with rising demand.
- 🚢 Logistics: Transport routes and shipping deals for Russian oil are already streamlined and cost-efficient.
Contradicting the Narrative
This reality sharply contradicts claims by both President Donald Trump and a Reuters report:
- Trump told reporters he “heard” India might’ve stopped buying Russian oil and said it would be a “good step.”
- Reuters, citing anonymous industry insiders, reported that state-owned Indian refiners had temporarily paused spot purchases of Russian oil, allegedly due to a mix of reduced discounts and tariff fears.
The Government Steps In
India’s Ministry of External Affairs made it crystal clear:
“India’s energy sourcing is determined by national interest and global market dynamics. We’re not aware of any halt to Russian crude imports.”
Translation? India doesn’t take orders on who to buy oil from.
The Bottom Line
The growing divergence appears to be between private refiners (like Reliance and Nayara) who are going full steam ahead with Russian imports, and state-owned refiners, who may be treading cautiously on new spot deals.
But so far, there’s no blanket pause, no government diktat, and certainly no surrender to foreign pressure.