By Anthony Marcus for Eurasia Business News, January 7, 2025. Article n°1975
US President Donald Trump said that India has significantly reduced its purchases of Russian oil. “If you look at the present, they have significantly reduced oil imports from Russia,” he said on Fox News, speaking to members of the Republican Party in Washington.
In early January, Reuters, citing sources, reported that the Indian authorities require Indian refineries to report on purchases of Russian and American oil every week. According to the agency’s sources, imports of Russian oil in the coming months may decrease and will amount to less than 1 million barrels per day.
Earlier, the Donald Trump administration imposed import duties against India, and in August last year raised them to 50%, explaining this by Delhi’s large-scale purchases of Russian oil.
India has imported $168 billion worth of Russian crude oil since Putin invaded Ukraine in February 2022, according to data from Finland-based Centre for Research on Energy and Clean Air (CREA).
India’s oil imports from Russia since the war in Ukraine began have reached 144 billion euros, or $168 billion, per CREA’s estimates reported by Indian media sources.
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India has been the second-biggest buyer of Russian oil behind China.
Russia, for its part, has continued to receive massive revenues from the energy it sells to China, India, and even the European Union, thanks to exemptions for pipeline oil, and no sanctions on Russian gas.
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© Copyright 2025 – Eurasia Business News. Article no. 1975
Eurasia Business News 