economy
February 4, 2026
Russia not aware of India halting oil purchases
US President Donald Trump has said that India has agreed to stop buying Russian oil
TL;DR
- Russia is unaware of India halting crude oil purchases, according to Kremlin spokesman Dmitry Peskov.
- US President Donald Trump claimed India agreed to stop oil purchases from Russia.
- Indian Prime Minister Narendra Modi did not mention a halt to Russian oil purchases.
- Russia intends to continue developing relations with India.
- Indian refiners would need a wind-down period for oil deals with Russia, and no halt has been ordered.
- An immediate halt to Indian crude oil imports from Russia could disrupt global oil markets and India's economic growth.
- India's oil imports from Russia have declined recently due to market-driven conditions and diversification of sources.
- Indian oil companies make their own purchasing decisions, without government mandate.
- India became a key market for Russian crude after the Ukraine conflict escalated in 2022.
Continue reading
the original article