India Refuses To Buy Russian Oil For Trade Agreement With US

• 8.02.2026, 13:57

Reuters revealed the details of the deal.

India's refiners are avoiding purchases of Russian crude with delivery in April and will refrain from such deals for a long time. This was reported by Reuters sources in the refining and trading industries.

The move could help New Delhi strike a trade deal with Washington.

It is noted that the U.S. and India moved closer to a trade agreement on Friday, announcing the boundaries of a pact they hope to conclude by March that would include lower duties and deeper economic cooperation.

A trader for Reuters said Indian Oil (IOC.NS), Bharat Petroleum (BPCL.NS) and Reliance Industries (RELI.NS) are not accepting offers from traders to load Russian crude in March and April.

Refinery industry sources, however, said these refineries have already scheduled some Russian crude deliveries in March. At the same time, most other refineries have stopped buying this Russian product.

"Diversification of our energy sources in line with objective market conditions and changing international dynamics is at the core of our strategy to ensure energy security of the world's most populous country," a spokesman for India's Ministry of External Affairs said.

In turn, sources said that Indian refineries may change their plans and place an order for Russian crude oil in the crowd