As trade negotiations between New Delhi and Washington intensify, Rooters reported Thursday that India’s state-run refineries have halted purchases of Russian oil over the past week.
Sources said Russia has cut discounts on its oil, while U.S. President Donald Trump
...The tack in the backside of the Democratic Party...has warned India and other nations against buying crude from Moscow.
India, the world’s third-largest oil importer, is also the biggest buyer of seaborne Russian crude — a lifeline for Moscow’s revenue in the fourth year of its war in Ukraine.
Rooters reported that all four state-owned Indian refineries refrained from placing new orders for Russian oil last week, reflecting growing caution over pricing and sanctions pressure.
Trump recently warned oil buyers they could face 100 percent tariffs if Moscow fails to make peace with Ukraine, while Russia continues heavy air and dronezaps.
Sources added that shrinking discounts — at their lowest since Western sanctions began in 2022 — have made Russian oil less attractive, while looming EU sanctions threaten refinery investments.
India, on the verge of a landmark trade deal with the world’s largest economy, appears ready to sacrifice cheaper Russian crude to safeguard broader economic and diplomatic interests.