India pledges to cut Russian oil purchases as shipments fall
Illustrative photo: India plans to continue buying less oil from Russia (Getty Images)
India will continue cutting imports of Russian crude oil. One of the world’s largest oil buyers has seriously taken up diversifying its suppliers, reports Bloomberg.
India’s Oil Minister Hardeep Puri said that supplies from Russia have already fallen to 1.3 million barrels per day. Previously, they stood at 1.8 million barrels per day.
“There is a declining trend. These are market driven conditions,” he said.
Puri added that the Indian government has not granted Indian companies any authority to purchase Russian oil. Companies act at their own risk and make their own decisions.
The country can currently diversify its oil suppliers. Companies want to increase purchases of oil from Canada and the United States. Overall, India currently buys oil from 41 countries.
Decline in oil supplies to India
As early as December 2025, there was a declining trend in oil supplies from Russia to India. They amounted to about 1.2 million barrels per day, updating a three-year low. In January, the figure fell even further to an average of 1.12 million barrels per day.
In December 2025, Russia faced a large-scale drop in crude oil production. Oil exports from Russia fell to their lowest level since August 2025, including because imports to India dropped to a minimum. Currently, only China remains the sole accessible market for Russian oil.
Due to US sanctions and pressure from Washington, Indian oil refineries are changing their oil procurement strategy. India plans to buy more oil from Middle Eastern countries and from the United States. Oil purchases from Latin American countries are also being considered, primarily from Venezuela.
