Affinity for Oil Ties with Russia Remains the Same
Despite public comments from Trump and his social media warnings, Indian officials said there would be no immediate shift in oil buying from Russia. Explaining one of the reasons, an official said India's long-term oil agreements with Russia cannot be cancelled overnight. While one added that the Indian buyers have prevented global prices from spiking by guaranteeing a regular oil export despite sanctions.

While Iranian and Venezuelan crude is under direct international sanctions, Russian oil isn't. And in that technical sense--Russia not being placed on an energy embargo like Iran or Venezuela--the country is legitimate to buy from legally. In addition, India is still purchasing Russian oil below the EU's price cap, making it an economically practical sounding candidate.

"Russia has been a constant and time-tested friend," said India's foreign ministry spokesman Randhir Jaiswal. Italy, during a press briefing, said India bases its energy decisions on market offerings and global conditions.

Trade War and Energy Fights Heat Up
Since returning to the presidency, Trump has worked furiously to halt any semblance of a Russia-Ukraine war, and has even warned of 100% tariffs on countries that keep purchasing Russian oil. He said the sanctions will stay unless Moscow delivers a major peace deal for Ukraine.

Oil makes up around a quarter of India's imports, and Russia supplies about 35% of it, making it one of the country's biggest oil sellers. In the first half of 2025, India imported about 1.75 million barrels per day (bpd) of Russian crude, up just 1% from a year ago.

But the price discounts have shrunk, and several Indian state-run refiners — including Indian Oil Corp, Bharat Petroleum, Hindustan Petroleum Ltd (HPCL) and Mangalore Refinery Petrochemical Ltd (MRPL) — have stopped new Russian oil purchases in recent weeks.

Rival Nayara Energy, a big Russian oil buyer which is majority owned by Russian companies including Rosneft, has also encountered problems. The European Union last week sanctioned Nayara, forcing its CEO to resign and making some of the company's oil products unavailable due to outstanding cargoes.