Indian oil refiners have stopped buying Russian crude and, according to Reuters sources in the refining and trading industries, do not expect to resume purchases over the long term.
Reuters notes that the decision is tied to talks on a trade deal with the United States. According to the agency, Indian Oil, Bharat Petroleum, and Reliance Industries have отказались of Russian crude. At the same time, sources said the companies have not canceled deliveries already agreed for March. Most other Indian refiners have also halted purchases of Russian oil, Reuters adds.
In early February 2026, U.S. President Donald Trump said that India’s Prime Minister Narendra Modi had “agreed to stop buying Russian oil and to buy much more from the United States and, possibly, from Venezuela.” Trump said the shift should help bring the war in Ukraine to an end. He also said the U.S. intends to lower tariffs for India. Modi confirmed an agreement on reducing tariffs, but did not comment on Russian oil.
Kremlin spokesman Dmitry Peskov said Moscow had heard no statements from India about plans to отказаться from buying Russian oil. On February 7, Trump signed an executive order отмена the additional 25-percent tariffs on Indian goods imposed over India’s purchases of Russian crude.
Trump originally signed the order imposing the additional tariffs on India in August last year. In October of the same year, the U.S. president said Modi had promised him to stop buying oil from Russia. After that, Indian companies temporarily suspended or reduced imports of Russian crude, but later returned to those supplies.