India defies US pressure, set on buying Russian oil
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India will continue purchasing Russian oil despite US sanctions, with Finance Minister Nirmala Sitharaman saying discounted energy imports are vital for the country’s economy.
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An oil tanker is moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia, on Oct. 11, 2022 (AP, File)
India will continue buying Russian oil despite growing pressure from the United States, Finance Minister Nirmala Sitharaman confirmed on Friday, September 5.
Speaking in an interview for News18 television, she emphasized that oil imports remain a crucial economic decision for the country.
“Where we buy our oil from, especially a big-ticket foreign exchange item where we pay so much, highest in terms of import, we will have to take a call on what suits us best,” Sitharaman said. “We will undoubtedly be buying.”
India has emerged as the largest buyer of Russian seaborne crude since the Ukraine war began, benefiting from discounted supplies rejected by Western countries. These purchases have helped the world’s third-largest oil consumer keep its energy import bill under control.
Read more: Russia, China, India form axis of new order, Alexander Dugin argues
US sanctions and tariffs add strain to ties
The stance has fueled tensions with Washington. The United States, under President Donald Trump, has demanded that New Delhi scale back its Russian oil imports. In response to what it views as defiance, the Trump administration doubled tariffs on Indian goods to 50%, among the highest in the world.
Trump has also repeatedly criticized both India and Russia for strengthening their partnerships with China, suggesting that these alignments undermine US influence in Asia.
For New Delhi, the decision remains primarily an economic one. Access to discounted Russian oil has provided critical relief at a time of global energy volatility. Officials argue that abandoning these imports would expose India to higher costs, threatening its economic stability.
Indian policymakers maintain that their energy imports must remain guided by national interest rather than external pressure.
In late August, Bloomberg reported that Indian refiners were prepared to scale back the purchase of Russian crude with the goal of easing US pressure on the South Asian nation, while keeping energy ties with Russia intact.
Read more: Russia, China sign new Siberia gas pipeline deal
India passes on US crude for Nigerian, Middle East oil
In a related development, trade sources told Reuters on September 5 that the Indian Oil Corp skipped on the purchase of US crude in its latest tender, opting instead for 2 million barrels from West Africa and the Middle East.
India's top refiner stated that it bought one million barrels of Nigerian oil grades Agbami and Usan from French supplier TotalEnergy, and another million from Abu Dhabi Das crude from Shell.
These recent oil purchases are set to arrive at Indian ports in late October or early November. Last week, the Indian Oil Corp bought five million barrels of US West Texas Intermediate.
Geopolitical tensions rise as Modi meets Putin and Xi
The issue comes amid a broader realignment of international alliances. Earlier this week, Prime Minister Narendra Modi and Russian President Vladimir Putin held discussions with Chinese President Xi Jinping at the Shanghai Cooperation Organization summit in Tianjin.
Talks covered cooperation on energy, trade, and security, underscoring closer ties between the three powers at a time when the United States is stepping up its criticism of all three governments.
Read more: Trump warns US may have lost India, Russia to China
