NEW DELHI: US President Donald Trump on Saturday said he had heard about India stopping purchasing Russian crude, adding it would be a good step, a claim the government denied. Trump made the remark after announcing 25% reciprocal tariff on Indian imports, along with additional penalties linked to Russian crude imports.
“I understand that India is no longer going to be buying oil from Russia. 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,” Trump said.
The petroleum ministry, however, clarified that India has not stopped importing Russian crude. A ministry official said Indian oil marketing companies (OMCs) continue to buy Russian oil, with supply decisions based on factors such as price, crude grade, inventories, logistics, and other economic considerations. “These are long-term oil contracts. It is not so simple to just stop buying overnight,” the official said.
The official also emphasised that Indian OMCs do not import crude from Iran or Venezuela — both sanctioned by the US. Russian oil, however, is not sanctioned by the US or the EU. Instead, it is subject to the G7-EU price-cap mechanism, which aims to restrict Russia’s revenue while ensuring global oil supplies continue.
India has consistently complied with the US-recommended price cap of $60 per barrel on Russian oil. Recently, the EU proposed a lower price cap of $47.6 per barrel, to be enforced from September. The official said India’s purchases remain legitimate and fully within international frameworks.