India Navigates Russian Oil Purchases Amid U.S. Tariff Negotiations
India continues to import Russian crude while simultaneously urging the U.S. to eliminate a 25% tariff, presenting a dual-track approach to energy diplomacy. New Delhi claims reduced volumes, yet state refiners like Indian Oil Corporation and Bharat Petroleum persist in securing future deliveries through unsanctioned suppliers. The request reached the WHITE House via political channels, with Senator Lindsey Graham relaying Ambassador Vinay Mohan Kwatra's appeal to President Trump.
Market reactions were immediate. West Texas Intermediate crude fell 1.37% to $56.35, while Brent crude dropped 1% to $60.09. The decline in India's December Russian crude imports stemmed not from state entities but Reliance Industries, which curtailed purchases after U.S. sanctions targeted Lukoil and Rosneft. Analysts confirm state-backed buyers have filled the void, maintaining a steady FLOW of Russian barrels.
