Bloomberg: India To Cut Russian Oil Purchases Due To US Duties
2- 26.08.2025, 9:52
- 2,128
In the coming weeks.
India's refineries, which are among the biggest buyers of Russian crude, plan to cut purchases in the coming weeks.
This is reported by Bloomberg.
As the agency notes, this is a partial concession to Washington amid pressure and looming US tariff hikes. At the same time, India has signaled it has no intention of cutting ties with Moscow.
Sources said state-owned and private refiners, including Reliance Industries, will buy between 1.4 million and 1.6 million bpd from October. By comparison, the first half of the year averaged 1.8 million bpd.
India will only slightly reduce purchases of Russian crude due to US duties, Bloomberg
US pressure and tariffs
The Donald Trump administration is seeking to reduce the trade deficit with India and has increased pressure on the country's energy ties with Russia. The doubling of U.S. tariffs to 50% comes into effect on August 27.
Sources said buying volumes could change if India reaches a trade agreement with the United States. It also depends on whether Washington eases pressure on India for funding Russia's war against Ukraine.
Company Reactions and Washington's Criticism
India's oil ministry, Reliance, Nayara Energy, and state-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum did not respond to requests for comment.
Since late last month, Donald Trump has openly criticized India for increasing its purchases of Russian oil. They were minimal until 2022, but the country now buys 37% of Moscow's total oil exports, according to Kasatkin Consulting.
U.S. pressure
U.S. administration officials have also stepped up public criticism of Indian oil companies. US authorities have targeted the country's biggest energy players.
The US Department of Homeland Security on Monday issued a draft notification to double tariffs on Indian imports to 50%. The new rules will take effect on August 27.
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