Trump has threatened India with penalties for purchasing Russian oil, despite India’s long-term oil contracts. Two Indian government sources confirmed that India will continue to purchase Russian oil despite Trump’s threats. The Indian government has a “steady and time-tested partnership” with Russia, and the country’s top supplier to Russia, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago. However, Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 due to lower Russian exports and steady demand. The Indian government has made ending Russia’s war in Ukraine a priority of his administration, and Trump has expressed growing impatience with Russian President Vladimir Putin. The Indian government has not responded to Reuters’ request for official comment on its oil purchasing intentions.
Trump’s threats have led to India retaining Russian oil imports, according to government sources.
