India to keep buying Russian oil despite Trump threats, NYT reports
India plans to keep buying cheap oil from Russia despite threats from U.S. President Donald Trump, officials in India told the New York Times (NYT) in a story published Aug. 2.
Trump on July 30 announced a 25% tariff on India along with an unspecified penalty for continuing to purchase Russian oil products. Trump has also threatened to impose 100% secondary tariffs on Russian oil by Aug. 8 if Moscow does not make a deal to end the war in Ukraine.
Two senior Indian officials told the NYT that the White House announcement triggered no change in energy or trade policy. The government has "not given any direction to oil companies" to reduce Russian imports, one official said.
Randhir Jaiswal, India's foreign ministry spokesperson, said at a news conference on Aug. 1 that India's and Russia's relationship remained "steady."
"Our bilateral relationships with various countries stand on their own merit and should not be seen from the prism of a third country," Jaiswal said. "India and Russia have a steady and time-tested partnership."
India is the second-largest buyer of Russian oil, after China. Long dependent on Middle Eastern oil, India sharply increased imports from Russia after Moscow launched its 2022 full-scale invasion of Ukraine, taking advantage of deep discounts and falling European demand.
Following Trump's warnings of steep secondary tariffs, Reuters reported on July 30 that Indian state-owned refineries suspended Russian oil purchases for at least a week. Bloomberg then reported on Aug. 1 that several oil tankers carrying Russian crude were idling off India's western coast as the nation's refiners sought alternatives.
Trump commented on the reports in remarks to the media on Aug. 1.
"I understand that India is no longer going to be buying oil from Russia," he said. "That's what I heard. I don't know if that's right or not. That is a good step. We will see what happens."
The Indian officials' comments to the NYT indicate that reports of large-scale trade policy change may have been premature. Analysts at Kpler, which tracks shipping data, told the NYT that the decline in Russian crude imports to India in July coincides with a period where India typically buys less oil due to monsoon season and scheduled refinery maintenance.
