India Dials Down Russian Oil Ahead of U.S. Trade Pact

Indian refiners are cutting down on Russian oil imports as they aim to secure a significant trade agreement with the United States, sources from the refining and trading sectors have revealed. The initiative is part of broader efforts by New Delhi to fortify economic ties with Washington.

Ahead of a potential trade agreement slated for March, refiners like Indian Oil, Bharat Petroleum, and Reliance Industries have halted Russian oil trades set for March and April. Meanwhile, Indian-led discussions did not confirm a complete cessation, although President Donald Trump lifted tariffs citing India’s pledge to stop Russian oil imports.

Despite historical reliance on discounted Russian crude since the Ukraine conflict, India has been pivoting towards Middle Eastern, African, and South American oil sources. While Nayara, a Russian-backed refiner, may persist in limited dealings, India’s overall import levels have fallen below prior averages, emphasizing strategic diversification.