India's Purchase of Russian Oil Maintains 'Stability' in Energy Market, Moscow Claims

Russia has said it has no indication that India has stopped buying Russian oil, even as New Delhi negotiates a trade deal with United States.

During a weekly press briefing, Russian foreign ministry spokesperson Maria Zakharova said India has repeatedly conveyed its position to Russian leaders. She stressed that India's oil purchases are based solely on its national interest and commercial considerations.

"India’s purchase of Russian hydrocarbons benefits both countries and helps maintain stability in the international energy market," she said.

Earlier this month, Russian Foreign Minister Sergey Lavrov said Moscow has no information suggesting that India has halted purchases of Russian crude. He maintained that oil trade between the two countries continues.

The statements come after US Secretary of State Marco Rubio stated last week that India had committed to halting Russian oil purchases.

India's Unclear Position

Meanwhile, India has consistently defended its oil trade with Russia, saying its decisions are guided by energy security needs for its 1.4 billion people.

"Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy to ensure this,” Ministry of External Affairs spokesperson Randhir Jaiswal said this month. He further added that “All of India's actions are taken and will be taken with this in mind."

Neither Prime Minister Narendra Modi nor the joint India-US statement made any direct reference to Russian crude imports.

After the India-US trade deal was announced earlier this month, US President Donald Trump lifted the 25% punitive tariff that had been imposed over India's purchase of Russian oil. In his post annoucing the deal, he claimed that PM Modi has agreed to stop buying Russian oil.

Speaking at the sideline of the India AI Impact Summit 2026, US Ambassador to India Sergio Gor said Washington does not want any country buying Russian oil, clarifying that the earlier tariff action was not aimed only at India. He added that India has been diversifying its oil sources as part of its commitment.

Outlook Business has reported that while India has reduced its purchases of Russian oil during trade negotiations with US, it may still continue importing certain volumes instead of stopping completely.

Even as India trims Russian imports, Moscow remains New Delhi's largest oil supplier.

Meanwhile, Indian refiners have stepped up purchases from Venezuela as part of their diversification strategy. State-run Bharat Petroleum Corporation Limited (BPCL) recently made its first-ever purchase of Venezuelan crude. HPCL Mittal Energy Limited (HMEL) also resumed buying Venezuelan oil after a two-year gap, Reuters claimed on Thursday.

Both refiners purchased one million barrels each of Venezuela’s heavy Merey crude in deals facilitated by global trader Vitol. Separately, Reliance Industries has reportedly received a US licence allowing it to directly import Venezuelan oil without violating sanctions and bought around two million barrels this month.

Traders like Vitol have been marketing Venezuelan crude under US-issued licences as part of the broader oil supply deal between US and Venezuela. The deal came into place after the Donald Trump administration captured Nicolas Maduro, the former President of Venezuela.