India’s state-owned oil refiners have not imported Russian crude over the past week as discounts have narrowed and U.S. President Donald Trump warned that buyers of Russian oil could soon face steep tariffs, Reuters reported Thursday, citing industry sources.
Indian Oil Corporation (IOC), the country’s largest refiner, was among those to halt purchases. IOC operates 10 of India’s 20 refineries, with a combined annual capacity of 60 million metric tons.
Other major state-owned refiners — Hindustan Petroleum, Bharat Petroleum and Mangalore Refinery and Petrochemicals — have also paused Russian oil imports, according to the same sources.
Executives at the affected companies told Reuters that Indian refineries are now turning to the spot market to fill supply gaps, ramping up purchases from Middle Eastern OPEC members and West African producers.
The shift marks a notable reversal for India, which became a major buyer of discounted Russian crude following the Kremlin’s invasion of Ukraine in 2022.
Indian imports of Russian oil surged over the past two years despite pressure from Western governments, helping Moscow offset losses from lost European markets.
Still, India’s privately owned refiners Reliance Industries and Nayara Energy continue to be the country's top importers of Russian oil.
Nayara, which is partly owned by Russia’s state-run oil giant Rosneft, has come under fresh scrutiny after being named in the EU’s 18th sanctions package.
The pause in state-sector imports follows Trump's ultimatum for Russia to reach a peace deal with Ukraine by Aug. 8, threatening 100% tariffs on countries that continue purchasing Russian crude if the deadline passes without progress.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Remind me later.