India resumes buying Russian oil despite US pressure – Bloomberg
Photo: India increases purchases of Russian oil despite criticism from the US (Getty Images)
India's state-owned oil refineries have resumed purchases of Russian Urals crude after a brief hiatus, despite high tariffs and criticism from US President Donald Trump's administration, Bloomberg reports.
According to the agency's sources, Indian Oil Corp. and Bharat Petroleum Corp. have purchased oil shipments over the past two days.
Shipments are scheduled for September and October. Sources familiar with the situation asked not to be named because they are not authorized to comment publicly.
Earlier this month, state-owned refineries suspended purchases of Urals due to pressure from the US.
At the end of July, the Indian government asked refiners to prepare plans to abandon Russian oil in case of a supply stoppage.
One official clarified that this was only scenario planning.
White House trade adviser Peter Navarro said in a column for the Financial Times that the resumption of purchases was driven by the profiteering lobby of India's big oil companies, rather than the country's domestic needs.
US Treasury Secretary Scott Bessent added that the richest families in India benefited from the purchase of Russian oil and confirmed plans to raise tariffs on New Delhi.
Background
Earlier, Indian refineries urgently stopped purchasing Russian oil after the US imposed large-scale tariffs on Indian goods.
According to sources, companies were awaiting instructions from the government after the US decision to impose an additional 25% tariff on Indian goods. The new measures were a response to the continued import of Russian oil.
The Indian Foreign Ministry immediately began to justify the need to purchase Russian oil, explaining it by the country's internal needs and energy security.
