New Delhi: Russia has expressed strong confidence that India will continue importing its crude oil despite mounting U.S. pressure and tariffs. Moscow emphasized the benefits of discounted prices and a ruble–rupee payment system, underscoring the resilience of the energy partnership that has grown significantly since the start of the Ukraine conflict. Russian oil now makes up about 35 percent of India’s total imports, compared to a negligible share before 2022.
India’s state-run refiners Indian Oil Corporation (IOC) and Bharat Petroleum (BPCL) have resumed purchases of Russian crude for September and October deliveries after briefly halting imports in July. The pause came as discounts narrowed and U.S. criticism intensified. Data showed that in July, Indian imports of Russian oil fell by 24.5 percent, dropping to 1.5 million barrels per day, though Russia remained India’s top supplier.
The United States has escalated its pressure campaign, with the Trump administration imposing tariffs of up to 50 percent on Indian exports, accusing New Delhi of indirectly financing Russia’s war effort. Washington has also warned that continued purchases could harm India’s strategic relationship with the U.S. Despite these tensions, India has signaled its intent to continue trade talks with Washington, with a new round of negotiations set to begin on August 25.
Russian officials have sharply criticized U.S. actions, describing the tariffs as unfair and politically motivated. Senior diplomat Roman Babushkin stated that “friends don’t behave like that,” while reaffirming that India remains a strategic partner. Moscow has also opened its markets to Indian goods as a countermeasure to the U.S. restrictions.
At the same time, Russia is seeking to strengthen a trilateral framework with India and China, aimed at countering Western influence in the region. Prime Minister Narendra Modi is expected to visit China soon, while all three nations will take part in the upcoming Shanghai Cooperation Organisation summit. Moscow also expects President Vladimir Putin to visit New Delhi before the end of the year, signaling deeper political and economic engagement.
Global oil prices have been trending higher amid this geopolitical uncertainty. Brent crude climbed to $67.11 per barrel and WTI to $63, supported by strong U.S. fuel demand and supply disruptions linked to the conflict. Analysts note that while a peace deal in Ukraine could ease prices, current conditions continue to keep the market elevated.
The unfolding situation places India in a delicate position, balancing its strategic ties with both Russia and the United States while ensuring its energy security. The coming months will likely determine whether New Delhi maintains its current stance or adjusts under international pressure.