Russian oil exports to India could drop as refiners wait for official guidance from New Delhi after President Donald Trump said Prime Minister Narendra Modi had committed to stop taking the crude.
Several executives from state-owned Indian refiners said they were caught off guard by Trump’s comments on Wednesday. The executives, who asked not to be named as they’re not authorized to speak publicly, said they hadn’t been briefed by New Delhi or any ministries on the matter. Three executives said Indian imports of Russian oil would drop in the short term.
Indian purchases of Russian crude have come under intense scrutiny in recent months, after Washington singled out the trade as justification for hefty tariffs on the South Asian nation. In response, New Delhi has swung between striking a defiant tone and crimping the flows to comply with the US, as Modi faces domestic pressure not to cave to Trump.
State-owned Indian Oil Corp., the nation’s largest refiner, and privately-held Reliance Industries Ltd. are now assessing their crude-buying practices, said people with knowledge of the companies’ activities, who asked not to be named due to the sensitivity of the matter.
Press officials from Indian Oil, Reliance, Hindustan Petroleum Corp., Bharat Petroleum Corp. and Mangalore Refinery and Petrochemicals Ltd. didn’t respond to emailed requests for comment.
Published on October 16, 2025
