50% US tariffs: Indian refiners look to cut back on Russian crude imports

India is looking to trim its Russian lipid imports with refiners readying a gradual reduction, according to a Reuters study quoting sources. Russia continues to beryllium India’s largest crude lipid supplier.

The Donald Trump medication has imposed 50% tariffs connected India, 25% of which are for the latter’s crude lipid procurement from Russia.On Wednesday, US President Donald Trump claimed that Prime Minister Narendra Modi had fixed assurance that India would discontinue purchasing lipid from Russia."So I was not blessed that India was buying oil, and helium (Modi) assured maine contiguous that they volition not beryllium buying lipid from Russia," Trump informed reporters astatine a White House gathering connected Wednesday.Sources told Reuters that Indian refiners person not received immoderate authoritative directive from the authorities regarding stopping Russian lipid imports.The sources quoted successful the study indicated that an contiguous halt to Russian lipid purchases would beryllium problematic, arsenic transitioning to alternate crude sources would effect successful accrued planetary lipid prices and perchance trigger ostentation concerns.During April to September, India's Russian crude imports averaged 1.75 cardinal barrels per day, representing astir 36% of full lipid imports, down from 40% successful the corresponding play past year, according to authorities statistics.

Imports of US crude accrued by 6.8% year-on-year to astir 213,000 bpd, constituting 4.3% of full imports.For the six-month play ending September 2025, Middle Eastern oil's proportionality accrued to 45% from 42%, arsenic revealed by the data.Following Trump’s claim, India issued a connection connected Thursday emphasising its 2 superior objectives: maintaining unchangeable vigor prices and ensuring proviso security."It has been our accordant precedence to safeguard the interests of the Indian user successful a volatile vigor scenario.

Our import policies are guided wholly by this objective," the overseas ministry said successful a statement.Indian officials are presently conducting commercialized negotiations successful Washington, whilst the US has accrued tariffs connected Indian goods by twofold to promote New Delhi to alteration Russian lipid imports. US negotiators person indicated that reducing these purchases would beryllium indispensable for lowering India's tariff complaint and concluding a commercialized agreement, the Reuters study said.India and China person emerged arsenic the starring purchasers of Russian seaborne crude exports, benefiting from reduced prices that Russia has had to connection pursuing European buyers' withdrawal and sanctions imposed by the US and EU aft the Russia-Ukraine warfare that started successful February 2022.Meanwhile India has indicated that it is exploring enhanced vigor collaboration with the United States."The existent Administration has shown involvement successful deepening vigor practice with India. Discussions are ongoing," said overseas ministry spokesperson Randhir Jaiswal successful the statement.