Game Over For Trump’s Oil Play? India Slashes Russian Oil Imports – Guess Who’s Cashing In? | World News

New Delhi: While shipments from the USA continue to increase, India’s imports of Russian crude oil have decreased. Russian crude oil shipments to India fell 8.4% between April and September following Washington’s decision to impose a 25% tariff on oil from Moscow, according to Reuters.

The decline reflects a tightening of the global market and reduced discounts from Russian suppliers. Industry sources and shipping data show Indian refiners are now sourcing more oil from the Middle East and the US, realigning trade flows that were once heavily directed towards Russia.

Pressure from Washington also played a role. White House Trade Adviser Peter Navarro has previously said India’s crude oil purchases effectively helped “finance Russia’s war in Ukraine.”

Shipping data reveals that a major Indian refinery imported 1.75 million barrels of Russian crude per day in the first half of the financial year. In September, imports remained stable at 1.6 million barrels per day, down 14.2% year on year compared to September 2024.

Refineries and Reorganizations

Private players such as Reliance Industries Limited and Nayara Energy increased their oil purchases from Russia in September. In response, state-owned refineries reduced their purchases.

US trade negotiators argue that reducing imports from Russia is essential to lowering tariffs and finalizing pending trade deals with India.

Between April and September, India’s crude imports from the US increased by 6.8% to nearly 213,000 barrels per day. In total, India imported 4.88 million barrels per day in September; this was 1% lower than in August, but 3.5% higher than the same month in 2024.

Changing Shares

Russia’s share in India’s total oil imports fell from 40% to around 36% in the six-month period. While the increase was seen in the United States, the share of oil supplied from the Middle East increased from 42% to 45%.

Collectively, the Organization of the Petroleum Exporting Countries (OPEC) countries (a coalition of major oil-producing countries such as Saudi Arabia, Iraq, Iran, Kuwait, the United Arab Emirates, Nigeria and Venezuela) increased their share from 45% to 49%.

The data paints a clear picture: India is gradually diversifying its oil portfolio amidst global uncertainty, economic leverage and strategic diplomacy. The United States, on the other hand, appears to be emerging as a beneficiary of influence by gaining influence in a market once dominated by Moscow.