India Resists Pressure to Cut Russian Oil Ties

Published on 8.2.25

  India has paused purchases of Russian crude oil due to lower discounts and steady demand, amid ongoing global tensions and US President Donald Trump's threat of 100% tariffs on countries importing Russian oil. India is the world's third-largest oil importer and consumer, receiving about 1.75 million barrels per day of Russian oil in January-June this year. The decision not to buy Russian crude is influenced by concerns over sanctions and the potential for Russia to retaliate by closing the Caspian Pipeline Consortium pipeline from Kazakhstan. India's state-owned refiners have stopped buying Russian oil after discounts narrowed, with the country relying heavily on Indian refiners for up to 70% of its Urals exports. The move comes as discounts shrink to their lowest since 2022, when Western sanctions were imposed on Moscow, and is seen as a way to maintain global energy stability by adhering to the $60 per barrel price cap framework.

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