Russia maintains its position as India’s primary oil supplier, contributing 34% of incoming deliveries in September. (AI image)

Will India stop buying oil from Russia? US President Donald Trump has claimed that PM Narendra Modi has assured him that India will stop Russian crude. The Ministry of External Affairs has denied being aware of any call between the two leaders.The Trump administration has exerted pressure on India to reduce Russian oil imports, alleging that these purchases finance Moscow’s military operations in Ukraine. The US authorities implemented a 25% supplementary tariff on Indian exports to America as a consequence of Russian oil acquisitions, although similar measures were not enforced against other purchasing nations. China continues to be the largest procurer of Russian crude, but does not face any tariffs from the US on that account.Russia maintains its position as India’s primary oil supplier, contributing 34% of incoming deliveries in September, despite a 10% reduction in volume during the initial eight months of 2025, according to data from Kpler, a commodities and shipping markets monitoring firm.

Russia continues to be India’s top oil supplier

The latest analysis from Kpler indicates India’s crude imports in September exceeded 4.5 million barrels per day (bpd).

How has India reacted to Trump’s claim?

India has indicated that it continues to diversify its energy procurement sources to address market needs. When questioned about Trump’s assertion regarding a Wednesday conversation with Modi, External Affairs Ministry spokesperson Randhir Jaiswal said he had no knowledge of such a discussion, adding that India’s oil procurement decisions are driven by the need to protect Indian consumers amidst unstable energy markets.“Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions,” Jaiswal said.Also Read | ‘We do not interfere in…’: Moscow reacts to Trump’s claim on PM Modi stopping Russian oil trade; says ‘our supplies very beneficial for Indian economy’“As per my information, there was no phone conversation between PM Modi and President Trump yesterday,” he said. The last phone conversation between Modi and Trump was on October 9, Jaiswal said.However, he declined to directly address questions regarding Trump’s claim about Modi’s alleged assurance to stop purchasing Russian energy.

How Much Russian Oil Does India Buy Right Now?

Indian refiners procured Russian crude worth $2.91 billion (₹25,597 crore) during September, ranking second to China’s $3.73 billion purchases, according to the latest Centre for Research on Energy and Clean Air (CREA) data. India also secured the second position in Russian coal and refined fuels acquisitions, with total fossil imports valued at $4.2 billion, whilst China led with $6.41 billion.In the hierarchy of Russian fossil fuel purchasers, China maintained the top position, with India, Türkiye, the EU and South Korea following respectively. China dominated the imports of Russian crude, LNG, and coal, whereas Türkiye led in refined oil products and pipeline gas procurement.

Who bought Russia’s fossil fuels in September 2025 (CREA data)

However, it is important to note that Russian crude exports to India experienced a decline of 9% in September, reaching their lowest point since February, primarily due to state-run refiners reducing their purchases by 38% – the smallest volume since May 2022.According to the latest Kpler report Russian oil imports stood at approximately 1.6 million bpd, constituting 34% of India’s total crude imports. India’s overall crude imports in October have remained consistent with projections at 1.6 million bpd. The report indicates that Russian crude deliveries have decreased by 180,000 from the average volumes imported during the first eight months of 2025.The decline in imports is attributed solely to market conditions rather than US tariff threats or European criticism regarding India’s ongoing procurement of these oil supplies.Industry analysts indicate that declining oil prices have reduced the Russian crude discount to approximately $2 per barrel. This situation has created opportunities for Indian refineries, which possess the technical capacity to process diverse crude varieties, leading them to source more oil from West Asia, Africa and the United States. The monsoon-related decrease in fuel consumption, particularly diesel, which leads fuel sales in India, has also influenced this modest shift from Russian crude, especially considering the reduced price advantages.

Who bought Russia’s fossil fuels after EU bans (CREA data)

“We are buying crude as per the economics. We are not making any extra effort for either increasing or decreasing Russian crude,” IndianOil chairman Arvinder Singh Sahney had told TOI recently, suggesting that crude selection is determined by price considerations and product yield alignment with planned refinery output.Despite this reduction, Kpler indicates that Russian oil will continue to be one of the most cost-effective options for Indian refiners, considering their substantial GPW (gross product margin) and competitive pricing compared to alternatives, as refineries increase production to meet the October-December festive season fuel requirements.