4 months ago
2
India is escaped to bargain lipid from immoderate country, and determination is thing caller astir its determination to diversify its crude suppliers, the Kremlin said connected Wednesday (February 4, 2026).
"We, on with each different planetary vigor experts, are good alert that Russia is not the lone supplier of lipid and petroleum products to India. India has ever purchased these products from different countries. Therefore, we spot thing caller here," Kremlin Spokesman Dmitry Peskov said portion responding to a question.
He was asked astir U.S. President Donald Trump's assertion that Prime Minister Narendra Modi had agreed to halt buying Russian oil and power to purchasing crude from the United States and, potentially, from Venezuela.
A time earlier, Mr. Peskov said that Russia has not received immoderate statements from India regarding the cessation of Russian lipid purchases.
Foreign Ministry Spokesperson Maria Zakharova connected Wednesday (February 4) said that the hydrocarbons commercialized is beneficial for some India and Russia.
"We stay convinced that India's acquisition of Russian hydrocarbons is beneficial to some countries and contributes to maintaining stableness successful the planetary vigor market. We are acceptable to proceed adjacent practice successful this country with our partners successful India," Ms. Zakharova said astatine a property briefing.
Private Kommersant FM concern vigor noted that, dissimilar President Trump, PM Modi did not notation immoderate statement connected stopping Russian lipid imports.
Igor Yushkov, a starring adept astatine the National Energy Security Fund, said that Indian refiners cannot afloat halt the import of Russian crude.
"The American shale lipid they export is airy grades, akin to state condensate. Russia, connected the different hand, supplies comparatively heavy, sulfur-rich Urals. This means India volition request to blend U.S. crude with different grades, which incurs further costs, meaning a elemental substitution won't beryllium possible," helium said.
"Russia typically exports 1.5 cardinal to 2 cardinal barrels per time to the country. America won't beryllium capable to screen that volume. So, 1 gets the consciousness that Trump is simply trying to amusement that helium won these commercialized negotiations and the woody was concluded wholly successful enactment with U.S. demands," helium said.
Last time, erstwhile Russia switched to the Indian marketplace from European and American markets successful 2022, it chopped accumulation by 1 cardinal barrels per day. This led to prices rising to $120 per barrel, and the U.S. acceptable an all-time precocious for gasoline and diesel prices, Mr. Yushkov recalled.
Mr. Trump past twelvemonth imposed 50% tariffs connected India, among the highest successful the world, including 25% levies for its purchases of Russian energy.
India buys astir 88% of its crude oil, which is converted into fuels similar petrol and diesel, from overseas.
Russian lipid made up hardly 0.2% of each crude lipid that India imported till 2021. India, the world's third-largest lipid importer, became the largest purchaser of discounted Russian crude aft Western countries shunned Moscow pursuing its February 2022 penetration of Ukraine.
India's import of Russian crude lipid dropped to astir 1.1 cardinal barrels per time successful the archetypal 3 weeks of January, from an mean of 1.21 cardinal bpd successful the erstwhile period and implicit 2 cardinal bpd imports successful mid-2025, according to information from real-time analytics institution Kpler.
